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,.
so do i have to go back to my bike shop to tell them
anything?
or all this can be done outside?
now i don't even know what's the resale value of my bike. i got
it at almost 28K
now its more than 2yrs 3 months old, i'm thinking 16K?