Vehicle Registration Numbers Retention & Transfer (Process & Fees)

[Apple-Tree]

Aiya, X & Y are sibling, then unless no trust, there is actually no need for item 4 lor ....... Y sell old car and return money to X lor.

 

You save 11 dollar lor

 

The problem is Y tick the WRONG option on the retention form,  AD EAT them all !!!  Huat ah !!

 

 

Hi there,

 

I would like to seek help from fellow members with regards to transfer of number plates.

 

Scenario: Double transfer of ownership and retention of car plate number

 

Person X - owns a car and wants to sell it to a dealer

Person Y - looking to buy a new car with Person X's car plate number asap

Persons X & Y are siblings

 

1. X & Y go to LTA first 

2. X transfers ownership of car to Y (cost incurred: $11) 

3. Y retains car plate number and LTA auto assigns new number to the old car (cost incurred: $1300)

4. Y transfers ownership of car back to X (cost incurred: $11)

5. X proceeds to sell car to dealer

6. Y buys new car with the retained number (Refund: $1200)

 

Total expenditure: $144 excluding installation cost

 

My questions:

1. Is this the fastest and cheapest way for Y to retain the car plate number and buy the new car? 

2. Is there an alternative to this?

3. Is it possible for the dealer, to whom X is selling the car to, assist in anyway so that Y will eventually get X's car plate number? If yes, what is the estimated cost involved?

 

Many thanks in advance. Cheers.

 

Edited November 3, 2016 by Apple-Tree

[V12k]

Aiya, X & Y are sibling, then unless no trust, there is actually no need for item 4 lor ....... Y sell old car and return money to X lor.

 

You save 11 dollar lor

 

The problem is Y tick the WRONG option on the retention form,  AD EAT them all !!!  Huat ah !!

 

Thanks for your comments.

 

Y is a first time car buyer and he has no insurance.

 

Step 4 is needed so that Y does not have to purchase insurance for the old car.

 

If the car is transferred from X to Y, Y needs to have a insurance to drive the old car around before he sells to the dealer directly. That would mean that Y has to purchase 2 insurances in a short span of time - for the old car and for the new car that he's going to get. This will be pointless I believe.

 

The whole idea of the double transfer is for Y to avoid insurance purchasing for the old car.

[Mkl22]

Hi there,

 

I would like to seek help from fellow members with regards to transfer of number plates.

 

Scenario: Double transfer of ownership and retention of car plate number

 

Person X - owns a car and wants to sell it to a dealer

Person Y - looking to buy a new car with Person X's car plate number asap

Persons X & Y are siblings

 

1. X & Y go to LTA first 

2. X transfers ownership of car to Y (cost incurred: $11) 

3. Y retains car plate number and LTA auto assigns new number to the old car (cost incurred: $1300)

4. Y transfers ownership of car back to X (cost incurred: $11)

5. X proceeds to sell car to dealer

6. Y buys new car with the retained number (Refund: $1200)

 

Total expenditure: $144 excluding installation cost

 

My questions:

1. Is this the fastest and cheapest way for Y to retain the car plate number and buy the new car? 

2. Is there an alternative to this?

3. Is it possible for the dealer, to whom X is selling the car to, assist in anyway so that Y will eventually get X's car plate number? If yes, what is the estimated cost involved?

 

Many thanks in advance. Cheers.

 

1. yes

2.No

3. why do you need a dealer?  just make sure there is no outstanding bank loans and then DIY at LTA. simple.

 

actually total cost is $122 to LTA and 20-30 bucks to make the new plate.  how you you get 144?

 

Edited November 3, 2016 by Mkl22

[Hubwee]

Hi there,

 

I would like to seek help from fellow members with regards to transfer of number plates.

 

Scenario: Double transfer of ownership and retention of car plate number

 

Person X - owns a car and wants to sell it to a dealer

Person Y - looking to buy a new car with Person X's car plate number asap

Persons X & Y are siblings

 

1. X & Y go to LTA first 

2. X transfers ownership of car to Y (cost incurred: $11) 

3. Y retains car plate number and LTA auto assigns new number to the old car (cost incurred: $1300)

4. Y transfers ownership of car back to X (cost incurred: $11)

5. X proceeds to sell car to dealer

6. Y buys new car with the retained number (Refund: $1200)

 

Total expenditure: $144 excluding installation cost

 

My questions:

1. Is this the fastest and cheapest way for Y to retain the car plate number and buy the new car? 

2. Is there an alternative to this?

3. Is it possible for the dealer, to whom X is selling the car to, assist in anyway so that Y will eventually get X's car plate number? If yes, what is the estimated cost involved?

 

Many thanks in advance. Cheers.

 

X transfer to Y ( provided no more loan ) - Y then retain( hang the plate if new car not out )  the number plate , pays 1,300 plus 11 for transfer and maybe 100 bucks for car insurance .

 

Y can then sell car straight to dealer or scrap , if family , no need transfer back , sell or scrap liao then just pass money to X .

 

If die die wants to transfer back , pay transfer fee and must buy car insurance again .

 

When Y new car is ready , register number to new car , LTA refunds you 1,200 .

 

If Y is used car , then no refunds from LTA .  

 

[V12k]

1. yes

2.No

3. why do you need a dealer?  just make sure there is no outstanding bank loans and then DIY at LTA. simple.

 

actually total cost is $122 to LTA and 20-30 bucks to make the new plate.  how you you get 144?

 

Thanks for you reply.

 

You are right. Slight miscalculation. Should be $122 excluding the new plate fabrication. 

[V12k]

 

Thanks for the feedback.

[Celicar]

Hi there,

 

I would like to seek help from fellow members with regards to transfer of number plates.

 

Scenario: Double transfer of ownership and retention of car plate number

 

Person X - owns a car and wants to sell it to a dealer

Person Y - looking to buy a new car with Person X's car plate number asap

Persons X & Y are siblings

 

1. X & Y go to LTA first 

2. X transfers ownership of car to Y (cost incurred: $11) 

3. Y retains car plate number and LTA auto assigns new number to the old car (cost incurred: $1300)

4. Y transfers ownership of car back to X (cost incurred: $11)

5. X proceeds to sell car to dealer

6. Y buys new car with the retained number (Refund: $1200)

 

Total expenditure: $144 excluding installation cost

 

My questions:

1. Is this the fastest and cheapest way for Y to retain the car plate number and buy the new car? 

2. Is there an alternative to this?

3. Is it possible for the dealer, to whom X is selling the car to, assist in anyway so that Y will eventually get X's car plate number? If yes, what is the estimated cost involved?

 

Many thanks in advance. Cheers.

I am not a guru by any means, but what about Y get the new car first and then swap number plate with X's old car? I am not sure if it is more expensive that way.

[flashbang]

I am not a guru by any means, but what about Y get the new car first and then swap number plate with X's old car? I am not sure if it is more expensive that way.

 

More expensive, cos once new car is assigned a number, it will cost 1.3k to assign existing number to it.

 

The method above is the best already. Transfer car from X to Y, Y retains plate, transfers car back. Now Y can get the dealer to put the number plate onto his new car.

[Apple-Tree]

Wait a minute.  When X transfer Y, I think need to show insurance and also buy another 6 month of road tax.

 

For me I transfer to agent, they have a LTA trade permit ??  So no need new insurance and road tax renewal.

 

Anyway, this point is not very clear to me lor ........ I only grab the cashier order then sign the transfer on the spot lor .....

 

 

 

 

Thanks for your comments.

 

Y is a first time car buyer and he has no insurance.

 

Step 4 is needed so that Y does not have to purchase insurance for the old car.

 

If the car is transferred from X to Y, Y needs to have a insurance to drive the old car around before he sells to the dealer directly. That would mean that Y has to purchase 2 insurances in a short span of time - for the old car and for the new car that he's going to get. This will be pointless I believe.

 

The whole idea of the double transfer is for Y to avoid insurance purchasing for the old car.

 

[V12k]

Wait a minute.  When X transfer Y, I think need to show insurance and also buy another 6 month of road tax.

 

For me I transfer to agent, they have a LTA trade permit ??  So no need new insurance and road tax renewal.

 

Anyway, this point is not very clear to me lor ........ I only grab the cashier order then sign the transfer on the spot lor .....

 

LTA advised that by doing a double transfer, Y doesn't need to have a insurance when X transfers ownership to Y. Upon retention of the number plate, Y has to immediately transfer ownership back to X to avoid insurance complications.

[V12k]

For step 2, Y does not need insurance ??? Pls advise confirm

I believe there isn't a need to as that's the whole point of double transfer -  to avoid insurance complications for Y. 

[Apple-Tree]

Oh..... IC 10Q

LTA advised that by doing a double transfer, Y doesn't need to have a insurance when X transfers ownership to Y. Upon retention of the number plate, Y has to immediately transfer ownership back to X to avoid insurance complications.

 

[Vratenza]

Transferring so many times. . . LTA will still clock these transfers verbatim. . . So a 2nd Owner Used Car suddenly becomes 4th Owner used car. . . . Even if potential buyer not scared, dealers will take chance to slash your car Value

[Evyrwmmn]

I still don't understand the whole mechanics of this whole thing... I bidded for two number plates and utilized one for my car... the other number can't be transferred to my friend? I called LTA and they said that I need to transfer the whole car over to my friend before he can retain the number plate and transfer it back to me... OMG...

[flashbang]

I still don't understand the whole mechanics of this whole thing... I bidded for two number plates and utilized one for my car... the other number can't be transferred to my friend? I called LTA and they said that I need to transfer the whole car over to my friend before he can retain the number plate and transfer it back to me... OMG...

 

That's how it works. LTA doesn't want to support a secondary number plate market. It's only worth it to do such transfers for number plates of value, unlikely people will bother for number plates that sell for 1-2k.

[Vratenza]

I still don't understand the whole mechanics of this whole thing... I bidded for two number plates and utilized one for my car... the other number can't be transferred to my friend? I called LTA and they said that I need to transfer the whole car over to my friend before he can retain the number plate and transfer it back to me... OMG...

That is the reason why before you bid for both number, you should do your homework.

 

I had wanted to put in 2 bids (total 6 different numbers) for the main bidding exercise to increase my chance of at least getting one popular number that is usually gone by the main bidding exercise. That will mean I have to deal with the possibility that I will be stuck with 2 numbers if both bids are successful.

 

But I am only getting 1 new car, and is not prepared to pay 1.3k to LTA to use the 2nd number on my other current car. Reselling it will be a hassle and the only reasonable way is to resell to those number dealers who have carpark full of old cars to register in your name to be transferred over to them. Unlikely they will be paying you anymore than what you bidded.. Likely lower since they need the margin.

[Strawichigo]

hello if anybody's reading...

how is the refund of $1200 made? is it via cheque? thanks!

[Newbie_newbie]

hello if anybody's reading...

how is the refund of $1200 made? is it via cheque? thanks!

yup LTA will post a cheque to you and it takes about 3 to 4 weeks :)