i already put it up for sale in the SBF.
but i never sold a bike to anyone in the open market before.
what is supposed to happen? i pay for the rest of my bike rite?
then what?
No, you dont have to pay for the rest of your bike
instalment. The other person may either take a loan and that
loan covers the rest of the instalments as well as cash payments to
you.
Or if he pays you full cash, you go to the loan companies pay
off everything and remind them to release the bike for name
transfer.
You only need the confirmation that the bike is reloaned or paid
off. Go with the buyer to LTA with both your NRICs and effect
a transfer there. He is also required to have his insurance
ready.
Then you just need to terminate your insurance for the bike and
take back the remaining unused insurance paid,.
