I'm looking to buy a secondhand bike from a direct owner.

Can help me advise how the process will be like.

The bike is still under AEON loan so the seller said he need to make full payment before he can change the ownership.

I have the cash, so should I pay full amount first, and wait the seller change name later?

When should I get the bike? Upon paying full or after change ownership?

Thanks.

Seller can still sell right? He still needs to service his loan regardless. I bought second hand pay half first meet, pay second half at jpj via tng ewallet. Then change name. No idea if motor got loan or not

Thanks for your reply.

Ok then i can try deal the same with seller.

Btw, may I know how long between 1st and 2nd payment?

Is it on the same day?

I usually nego to pay 1K first, full remainder only pay upon successful name change

But the seller need the cash to make settlement for the loan.

check out icity motorworld youtube. There are a few similar shorts on this topic for understanding.


This post has been edited by harryleesbr: Oct 7 2023, 04:50 PM

It is quite simple.

1) Pay the owner the amount to settle the loan
2) Then the bank or bike company will cancel the hakmilik
3) Go with the owner to JPJ or UTC or the agent and do the transfer
4) Once transferred, pay the owner the final amount

I am selling my bike and this is the method I tell my prospective buyers. It also has to have an element of trust. Otherwise, do a simple agreement which both parties sign to protect both sides. Or get a 3rd party to hold the amounts and disburse on behalf if you both don't trust each other.

May I ask if the buyer make full amount, can he take the bike straighaway isntead of waiting the transfer

Understand, I don’t buy those still on loan

Just sharing my case.

The owner allowed me to bring the bike home after I transferred the loan amount. He prepared a letter allowing me to use the bike while he subsequently settle the loan amount.

Upon clearance, he settled his JPJ stuff and let me know when is my time to settle mine.

Well, best wishes to you, fingers crossed, I don’t like dealing with uncertainties

Thanks. It is already in the past.

The bike had clocked in about 40k km since and still going strong. Even going around the entire peninsular twice without any hiccups.

No. I will make sure it is transferred ownership first. He also must have bought his insurance. Anything can happen once he takes the bike away...and it is still under your name, so, a bit dangerouslah for you.