Buying a bike with COE expiring less than a year.

[z_ahutd]

Hello to the bikers out there.

 

I'm new to buying bikes so I need a few advices from the experienced bikers out there. I am planning to get a bike with COE expiring less than a year, but I'm not so sure how to buy the insurance.

 

Do I have to buy a new policy or just use the existing previous owner's policy by adding my name to the list of riders?

 

If both are possible, which one is the best and cheapest one? Thank you in advance for the reply

 

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[pufferfis]

just get the details of the bike..example plate...model...manufacturer n cc....n just go to the nearest ntuc income insurance to get a quote.....if the best...depends u want comprehensive...fire and theft with 3rd party...or just 3rd party insurance....there are also other insurance companies...but so far ntuc i neber pay more than 200 for 400cc....cheers

[coolzone]

Bike or car insurance is non transferable

Edited November 14, 2013 by coolzone

[flyingcow]

If the previous owner had only paid the PQP (extension) for 5 years , it would meant that your bike has to be scrapped or export

upon its expiry . No extensions would be allowed .

 

 

usually can just calculate from bike registration date right? whether +10/20 years or +5 years?

[pufferfis]

usually can just calculate from bike registration date right? whether +10/20 years or +5 years?

not really...coz sometimes some owners renew during the $1 coe sale in 2003....u can check online on when u wanna check on how much is the transfer fee..it will show the details of the bike inclusive original registration date and coe expiry date and quota premium...and you dont need any singpass or what not..cheers

[z_ahutd]

just get the details of the bike..example plate...model...manufacturer n cc....n just go to the nearest ntuc income insurance to get a quote.....if the best...depends u want comprehensive...fire and theft with 3rd party...or just 3rd party insurance....there are also other insurance companies...but so far ntuc i neber pay more than 200 for 400cc....cheers

 

Thanks for the info bro! Gonna take your tips.

 

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[Eno]

Hello,

 

Since you are new, let me give you some advice on buying bikes.

 

Buying 2nd hand from shop

-Survey few shops to get the average price of the bike u want

-Some reputable shops I recommend is AsPhoon because they are well-known to be good and has no early settlement fees.

 

Buying 2nd hand from person

-You have to pay in full and not in installment

-If you carry on installment (COI), ask the bikeshop if you can transfer ownership at a fee. Do not add in your name as subrider and pay monthly installments. This is because when you finish paying installment, he has the right to refuse transfer of ownership as he is still the owner. You can't say anything. (This is because you mainly cannot transfer ownership while the bike is under installment. Some bike shops like ASPhoon allows this at a price)

-When you agree to buy a bike from a person, here's the procedure u can follow. Go to Insurance Company (like NTUC), buy your insurance. Go to LTA at Sin Ming to transfer ownership. Once ownership transferred, pay him the money.

-Check whether the bike got outstanding summon first (https://onepay.onemotoring.com.sg/onepay/erp/getRecord.do)

 

Renew COE

-If you renew 5 years, you cannot renew COE again. Essentially you have to scrap the bike. Nobody wants to buy a bike with 5 years renewed COE.

-If you renew 10 years, you can renew COE once it expires again. Value of bike retain. COE will be slightly expensive between $1500-2000.

 

Insurance

-Generally, try to get 3rd Party. If you think people will steal your bike, get 3rd party Fire and Theft.

-I like NTUC because you get better customer service. They have "Orange Force" which is good in case you have accidents. Just call them and they will advice you on the procedures and bring you to Vicom to inspect damage.

 

Good luck and read well before you buy a bike.

[z_ahutd]

Hello,

 

Since you are new, let me give you some advice on buying bikes.

 

Buying 2nd hand from shop

-Survey few shops to get the average price of the bike u want

-Some reputable shops I recommend is AsPhoon because they are well-known to be good and has no early settlement fees.

 

Buying 2nd hand from person

-You have to pay in full and not in installment

-If you carry on installment (COI), ask the bikeshop if you can transfer ownership at a fee. Do not add in your name as subrider and pay monthly installments. This is because when you finish paying installment, he has the right to refuse transfer of ownership as he is still the owner. You can't say anything. (This is because you mainly cannot transfer ownership while the bike is under installment. Some bike shops like ASPhoon allows this at a price)

-When you agree to buy a bike from a person, here's the procedure u can follow. Go to Insurance Company (like NTUC), buy your insurance. Go to LTA at Sin Ming to transfer ownership. Once ownership transferred, pay him the money.

-Check whether the bike got outstanding summon first (https://onepay.onemotoring.com.sg/onepay/erp/getRecord.do)

 

Renew COE

-If you renew 5 years, you cannot renew COE again. Essentially you have to scrap the bike. Nobody wants to buy a bike with 5 years renewed COE.

-If you renew 10 years, you can renew COE once it expires again. Value of bike retain. COE will be slightly expensive between $1500-2000.

 

Insurance

-Generally, try to get 3rd Party. If you think people will steal your bike, get 3rd party Fire and Theft.

-I like NTUC because you get better customer service. They have "Orange Force" which is good in case you have accidents. Just call them and they will advice you on the procedures and bring you to Vicom to inspect damage.

 

Good luck and read well before you buy a bike.

 

Thanks bro for the info! Really appreciate it!

 

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