Originally Posted by
PrecisionPainters
If the CI would look up your record, which most CIs don't, but anyway it's the thread starter's decision after all, if credibility wise, it's safe just let someone assume your bike if you want not to tarnish your credibility.
Almost all CIs will not go as far as digging that deep though they can really look up records of a particular person from other dealers. Each dealer needs a customer and if one customer is blacklisted from a particular dealer and if CI protocol will be followed, there would be little to no customers today kay a large percentage of motorcycle applicants have had a motorcycle repossessed or surrendered before.
Originally Posted by
PrecisionPainters
Yes, the one who will assume the bike will have his character background checked for previous faults like repossessions and delinquent payments, also if he has the capacity to pay or assume the remaining payments of the bike.
That is true. Once a motorcycle is surrendered and a new one will assume the responsibility of continuing to pay for the mortgage, the dealer will have a credit investigation of that person as well for financial capacity and credibility, then again, background check does not really happen, it's just for show, and dealers will just evaluate the new applicant based on financial documents submitted.
Originally Posted by
Mr.Awesome
Sir Kung IPA assume nako ako e inform ang ako g kuha an sa motor??or padayonon LNG niya pero ang name na naka rehistro sa 3s shop ako LNG gihapon?
Yes, the motorcycle will still be under your name pero on record you will no longer be liable for paying the motorcycle, basically you're off the hook from any legal issues that may arise. The change of ownership will only happen when the registration is renewed, that's the time that the name of the new owner is used on the motorcycle registration.
Reply With Quote
Posting Permissions
