Do i need a transaction pin if i sell my vehicle to a motor dealer?

Sell Car 28/04/2017 59 Views

2 Answers

Admin

From 26 November 2018 onwards, the Land Transport Authority (LTA) will be doing away with Transactions Pins (TPINs) for the following LTA vehicle-related transactions: Transfer of Vehicle Ownership, Transfer of TCOE, Transfer of Rebate, and the Deregistration of Vehicle.

Now, instead of the TPIN, vehicle owners and businesses will need to use their SingPass/CorpPass 2FA to confirm and complete these transactions.

Transfer of Vehicle Ownership
Seller (Vehicle Owner) Transfers Vehicle to Buyer (Next Owner)

1. Seller to log into One Motoring account (via SingPass).
2. Seller to use the ‘Apply to Transfer’ function to initiate vehicle transfer to Buyer.
3. Upon submission, an SMS will be sent to the Seller to notify them of the transaction. The Seller can still cancel the transaction before the Buyer accepts the transfer.
4. An SMS will also be sent to the Buyer to notify them of the transaction.
5. The Buyer can then log into One Motoring (via SingPass) to confirm or reject the vehicle transfer within the next 5 calendar days.
6. If the vehicle transfer is successful, a confirmation SMS will be sent to both Seller and Buyer.

www.motorist.sg/article/310/lta-singpass-vehicle-transfer-and-deregistration-a-step-by-step-guide

Above is a comprehensive step-by-step article on how to perform LTA vehicle-related transactions with your SingPass/CorpPass.

0 Upvote Downvote Reply 22 days ago

Yes, you do as the keying in or provision of the Transaction PIN to the motor dealer signifies your consent to and authorisation of a transaction involving a transfer of ownership of a vehicle or assets, such as TCOE, COE/PARF rebates etc.

The Transaction PIN is also required when you apply to de-register your vehicle online, or if you wish to de-register your vehicle by sending it to an authorised Scrapyard or Export Processing Zone (EPZ).

0 Upvote Downvote Reply over 1 year ago