Question on Transfer of Car Ownership

[Nhyone]

Once it is cleared at the finance institutation end, they will update the LTA system within 24hrs before any ownership transfer can be done.

 

The update can be instantenous. Just a few clicks on the finance company's part, you are able to effect the transfer already. This is very important when you're already at LTA. Don't ask me how I know.

[Galantspeedz]

Need some advice on transfer of car ownership:

 

Suppose i want to buy a second hand car (relatively new car, abt 1 or 2 years) directly from a owner, i know that we can make a trip to LTA to do the transfer, which is relatively easy.

 

However, if the owner borrowed a car loan from a bank, how do i ensure that the car will not be towed away by the bank should the owner failed to pay the car loan. How does it work? I saw a few such cases in the newspaper before, and it is really a nightmare to find your newly bought car towed away.

 

ask him full settle the loan first. and the only way to do the transfer is to use the original logcard but if he dun fully settle the car den cannot get logcard den cannot transfer car.

 

looking at this point, it is safer to get the car from direct owner den dealer.

[Ex_vagrant]

Hi,

 

I'm also faced with a similar situation as I want to transfer ownership of wifey's car to her name.

 

Her car financing is under my name and from all the inputs here, does it means that I have to full settle the loan before can transfer ownership?

 

Can I ask her to source for her own financing and once approved, get her bank to deal with my bank instead?

 

Appreciate any useful advice and thanks...

[Amazon777]

There are quite a number of brokers out there who is willing to redeem the loan for you and effect the transfer etc. You can tried Alpine Credit or Swift Leasing. If you want to take a loan from DBS bank, I think they will require u to go through their broker which is Swift leasing as DBS bank will not redeem the seller's logcard

[Tanlee]

When I bought my recent 2nd hand car, from LTA web site, it mentioned that transfer fees is 6xx. after my dealer appeal, it was reduce to 4xx.

 

my question is : is this appeal process a formal one??

[Sabian]

Sorry to dig old thread but rather post here then start a new one.

 

How long does the bank take to dislodge their claim on their vehicle from the day you fully settle in cash?

 

Edit: NVM. Apparently, some banks will take their own sweet time unless you call them to inform them of their obligation under the HP Association rule or something like that...

Edited January 8, 2013 by Sabian

[SGCMbenson]

Dear All,

 

I need some advice.

 

Recently bought a second hand car from a dealer with full cash but it have been about 1 month and the car ownership still haven't transfer to my name yet.

 

What should I do now?

[W13ng1974]

Hi, wanted an advise from expert here.

M buying a 5 months old car, was told by dealer not able to transfer ownership till the car reaches 6 months.

 

Dealer said I can take over the car first n use it , wait till 1 month later den they transfer ownership.

 

I sit advisable to do that

[Deckbuild]

Hi, wanted an advise from expert here.

M buying a 5 months old car, was told by dealer not able to transfer ownership till the car reaches 6 months.

 

Dealer said I can take over the car first n use it , wait till 1 month later den they transfer ownership.

 

I sit advisable to do that

 

Advice you to wait and rent a car for 1 month

[Little_prince]

Hi, wanted an advise from expert here.

M buying a 5 months old car, was told by dealer not able to transfer ownership till the car reaches 6 months.

 

Dealer said I can take over the car first n use it , wait till 1 month later den they transfer ownership.

 

I sit advisable to do that

 

that is correct.

[13177]

Hi, wanted an advise from expert here.

M buying a 5 months old car, was told by dealer not able to transfer ownership till the car reaches 6 months.

 

Dealer said I can take over the car first n use it , wait till 1 month later den they transfer ownership.

 

I sit advisable to do that

Take over car first and use it? Insurance got cover? Better to wait until ownership transfer to you then start use.

[W13ng1974]

Is it bank will only release payment to dealer after transfer of ownership?

[drwatson]

Hi Guys....planning to visit LTA this friday to transfer ownership to my buyer. Can i know usually how long will it take in terms of queuing and everything? is there a lot of people around noon time? 

[7hm]

Hi Guys....planning to visit LTA this friday to transfer ownership to my buyer. Can i know usually how long will it take in terms of queuing and everything? is there a lot of people around noon time? 

 

I recall one time was involved in this took about 45 mins altogether I think, but I really cannot remember

[RadX]

Hi Guys....planning to visit LTA this friday to transfer ownership to my buyer. Can i know usually how long will it take in terms of queuing and everything? is there a lot of people around noon time? 

 

 

merged here...search in future

[mersaylee]

Reviving an old thread as I can’t find the latest one here on the online ownership transfer protocol. 

How to make transfer fee payment (is it $25now?) to LTA?

Onemotoring site mentioned credit card payment- but does that work separately from the ownership transfer when both seller/buyer use the online portal or it’ll be part of the online transaction process? 

My last car purchase this February was from a dealer and I remembered I paid around $25 either by cash or Nets, not part of the online ownership transfer process. 

Thanks in advance 

[Fitmugen]

46 minutes ago, mersaylee said:

Reviving an old thread as I can’t find the latest one here on the online ownership transfer protocol. 

How to make transfer fee payment (is it $25now?) to LTA?

Onemotoring site mentioned credit card payment- but does that work separately from the ownership transfer when both seller/buyer use the online portal or it’ll be part of the online transaction process? 

My last car purchase this February was from a dealer and I remembered I paid around $25 either by cash or Nets, not part of the online ownership transfer process. 

Thanks in advance 

If I am not wrong, seller go into system first to fill up buyer details. After that, buyer go into system to fill up insurance details and pay transfer fee. After that the transfer is complete

[Ody_2004]

9 hours ago, mersaylee said:

Reviving an old thread as I can’t find the latest one here on the online ownership transfer protocol. 

How to make transfer fee payment (is it $25now?) to LTA?

Onemotoring site mentioned credit card payment- but does that work separately from the ownership transfer when both seller/buyer use the online portal or it’ll be part of the online transaction process? 

My last car purchase this February was from a dealer and I remembered I paid around $25 either by cash or Nets, not part of the online ownership transfer process. 

Thanks in advance 

Online Transaction between seller and buyer using Singpass.

Seller "sell" his car on onemotoring using his SIngpass and entered Buyer details.

Buyer received SMS and can login to onemotoring to Accept the transaction using his/her Singpass. At this time you be prompted for payment of Transfer Fee $25 (and/or road tax). Choose Credit Card and the process be like any Credit Card transaction online