Tranfer fees?

Honda_Repsol SG

My friend need to sell his bike, and as he know the transfer fees is $150. But after the transfer, for the rest of the installment unpaid, is the next owner of the bike need to an extra of 10% of the installment??
Antone know?

tOngEh SG

wau seh 10% so high ah!!!but why must ur friend pay the transfer fees sholud be the buyer pay.

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tOngEh
A good rider is one who can live long enough to ride another day.

Honda_Repsol SG

He havent sell, but he want to know is there another 10% on the installment very month..
Anyone know?

nick34 SG

yes there is ... the best way is to include the next owner as a sub rider so that there will be no increase of installments ... but your frenz mustbe aware that if anything happen ... example no payments of installments your frenz must pay and he can take his bike back too

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wish u good luck
wish u bad luck
wish u born a baby duck

ah_tee SG

no, shld be 10 percent every year, different bike shops got different rates, i seen 5 %, and even 14 %

the new owner will be taking over, the instalments, the interest, plus his own interst for the bike, which means, lets say ur friend left 2k, n interst is 8 percent , which is 160, the new owner will b taking over a loan of 2160, on top of that, his own interst will b added in, depend on him, if he want to pay it in 1 year, 2 year or 3 years,then his own interest will b calculated n added in, this is how shops suck ur blood

Honda_Repsol SG

Ok! Thanks for your info!! Smile

kof-guy SG

u forgot to include something very important loh.
after all that is done, anything happen to the bike, the guy nvr pay instalments or what, will be none of your friend's business, coz the bike is now under his name.

usually this practise is termed "cancel name".

however, if you choose to just include the buyer as the sub rider of your bike, if the guy just 1 day happy happy decide to run away wif yur fren's bike n dun pay instalments, then your fren hong kan liao.

this practies is termed "carry on instalment". this kinda trade, best is among frens, at least got that trust there. if between 2 strangers, you never know what's gonna happen.

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vroom...tingtingtingtingti...vroom~

Givache SG

when sell...the buyer need to reloan...and the percent is c which motor diam...mostly is range from 7.5% to 14%....
The 5% is for those 1st hand nia...unless got full cash..if not the buyer sibei jialat one..

Honda_Repsol SG

What u mean?? then the next owner need to pay downpayment and count like buying new bike again meh? like that who 1 2 buy? or is it just the unpaid installment with add on interest? like let say 18 months unpaid. monthly $150 then the count $150 X 18 X 105%=$2835 left, if loan for 18 months. then 2835/18= $157.5

izt?

Givache SG

no...u tat means baleh reloan the amount the bike owns the motordiam loh..lets say the bike need to installment left 2000...then buyer need to reloan 2000 from the motor diam and multiply 2000*10% if the then divided by 12...if is 10% interest per yr lah

jungleboy111 SG

I'm not sure how this really works. Can anyone enlighten me?
Does this mean that interest will be calculated from the remaining unpaid installments every year?

Eg : Need to pay $2000 altogether. So $2000 + 10% = $2200. Lets say first year manage to pay only $1000, left over of $1200. Interest 10% added on this again? Which means remaning debt is $1200 + $120 = $1320.

Is that how it works?

One more thing. If someone is selling off his bike that still has installments to clear, why do we need to pay a certain sum to the owner b4 taking over? What does the money given to the owner include? Insurance? Settlement fee? Or what?