How to transfer motorcycle ownership in Singapore?
Whether you are a newbie or an old veteran with years of riding experience, some of us might recall the "good" old days doing a vehicle transfer at Land Transport Authority using the (M01) transfer form. Gone with tremendous long queuing up at Sin Ming (LTA) customer service centre to collect a ticket and waiting absurdly long for your number to be called before you can do the vehicle transfer at the counter.
Credit: foursquare
Credit: foursquare
With the new digital transformation by LTA (One Motoring) website since November 2018, all vehicle transfer can now be done online without the need of even stepping out of your house.
We are going to share with you some step by step procedure on how you could do vehicle transfer of ownership using the digital way. So do share this article with your future buyer in case he/she is confused about this procedure.
Let's presume you (buyer) have already met up with the seller at our used motorcycle listing. After viewing and negotiating the price of the bike, what should you do next?
Usually, we would advise both the seller & buyer to pen down their offered & agreed price on the agreement form before proceeding on the transfer of ownership.
You can download these useful forms at our website to aid on the motorcycle transfer of ownership:
Next, arrange a date to meet up to do the transfer of vehicle ownership. If you guys are not sure and would like a third party to witness the whole procedure, we would be happy to assist on the transfer of ownership at our office with a small service fee. Contact us for more details on the service fee.
Some requirements to take note before doing a transfer of motorcycle ownership at one motoring website.
Seller's motorcycle needs to be:
✔️ The registered owner of the motorcycle, not the sub-rider
✔️ Fully paid
✔️ Not under loan/finance. (Dealers/finance companies can tag their hire purchase vehicles to stop them from transferring out).
✔️ SingPass/CorpPass 2FA ready
Buyer needs to prepare:
✔️Ready cash or bank transfer
✔️ Purchase valid motorcycle insurance under the buyer's name (Commerce date should start on the date that you wish to do the transfer). We do offer exclusive motorcycle insurance premium rates for all our members. Get an instant quote at our motorcycle insurance tag.
✔️SingPass/CorpPass 2FA ready
Once you guys have all these requirements ready,
Meet up and start the procedure of transfer.
Seller need to first login to One Motoring
At the top right-hand corner under "Login" / For individuals / Login via Singpass.
Once login to his/her one motoring account, The account will display the vehicle details.
Select the vehicle you wish to transfer.
Click on the Terms and conditions and select "Next"
For Seller, You need to key in the Buyer's Details.
Select his/her ID type, Name & Mobile and submit once its done.
Click Confirm and you will be directed to the OTP page.
Key in the SMS OTP and the transfer will be done.
*Do note that the buyer needs to acknowledge and make payment for the transfer to be officially transfered.
Once the Seller have transfer the vehicle to the buyer, Both the seller & buyer will received a SMS from LTA regarding the transfer of ownership.
The Buyer have 5 days to accept the transfer of ownership & the seller can also cancel the transfer of ownership before the buyer confirm the transaction.
Next, it's the Buyer's turn to login to his Singpass via One Motoring.
Buyer select the vehicle that has been transfer to him/her.
Click on the Terms and conditions and select "Confirm Transfer"
Select the Insurance company and key in the policy No. and then "Submit"
This will be taken straight to OTP page after input the SMS OTP, you will be directed to making payment for the transfer of ownership.
There is the option to make payment via credit/debit card or interbank.
Once the payment is done, you (Buyer) are the offical owner of the vehicle.