It's simpler. Assuming it's a private transaction;hairball wrote:Hi guys,
I'm coming from Canada for a one-year program and since I'll be travelling back and forth a lot to school, I've been thinking about getting a motorcycle. I'm licensed in Canada.
I was wondering if anyone could help me clarify what the typical buying process of a used motorcycle is in Singapore?
Here typically, you would find and pay for the bike, then it needs to pass a safety before you can plate it (this can involve having it brought to a mechanic) and then it needs to be insured before finally you can legally drive it. This process tends to involve a lot of either getting friends with a truck to help you move the bike or renting a trailer.
Is it similar in Singapore? or is there a window where you can you ride it home once you've bought it and then go through the insurance process?
Thanks!
Deposit depends on sellers attitude. It doesn't need to be big ($100 to $1000).hairball wrote:Thanks for the prompt reply, PNGMK!
So if I understand correctly, you'd go see the bike, then if you were to decide you wanted to purchase it you would arrange to meet again at the LTA office to put down a deposit, and then once more to finalize the sale? Do most sellers ask for a deposit, or can you skip that step and pay the whole amount upon meeting at the LTA?
I thought that didn't apply to motorbikes but only cars?franky-MS wrote:... and you can be sure that it is a good time to buy!
The market is totally down since the government introduced the new loan guidelines where every buyer needs a 50% share in cash on the loan.
My own bike went down in price already 4thsd dollars.
Just crazy!
Hi,PNGMK wrote:I thought that didn't apply to motorbikes but only cars?franky-MS wrote:... and you can be sure that it is a good time to buy!
The market is totally down since the government introduced the new loan guidelines where every buyer needs a 50% share in cash on the loan.
My own bike went down in price already 4thsd dollars.
Just crazy!
IF you're referring to the LTA transaction IME a passport and insurance is ok.luca9277 wrote:Hi there,
does anybody know if a confirmed FIN is needed to buy a bike? Can I just go with my passport and insurance?
I'm curious, why would you be buying a bike without a FIN? LTA may be able to look your FIN up by passport, but they'll probably take issue if you don't have one.PNGMK wrote:IF you're referring to the LTA transaction IME a passport and insurance is ok.luca9277 wrote:Hi there,
does anybody know if a confirmed FIN is needed to buy a bike? Can I just go with my passport and insurance?
IF you're referring to a loan application I don't know.
There's plenty of reasons and no I don't believe LTA will care.zzm9980 wrote:I'm curious, why would you be buying a bike without a FIN? LTA may be able to look your FIN up by passport, but they'll probably take issue if you don't have one.PNGMK wrote:IF you're referring to the LTA transaction IME a passport and insurance is ok.luca9277 wrote:Hi there,
does anybody know if a confirmed FIN is needed to buy a bike? Can I just go with my passport and insurance?
IF you're referring to a loan application I don't know.
Assuming you have an 'in principal approval' letter for a WP or EP, your FIN will be on it.
The application form specifically says "passport" for non Malaysian foreigners although I used my FIN and later my NRIC.luca9277 wrote:Hi there,
does anybody know if a confirmed FIN is needed to buy a bike? Can I just go with my passport and insurance?
All I could think of was a foreigner showing up for one of those 'Singapore to Saigon', or other regional rides. In such a case, it would be much cheaper (no COE) to just go and buy in JB.PNGMK wrote: There's plenty of reasons and no I don't believe LTA will care.
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