When I went in to Service Ontario, I told them about the situation. and I basically 'purchased' the bike for 0 dollars on the bill of sale, so i don't have to pay any tax. They don't really care what price you got the bike.
But CRA may come after you, but for my case I have a proof of payment...
He stopped making payments cuz his employer stop paying him so he had no money to pay for it... and he said he didn't remember that i co signed it for him... and the ****** up part is that after he defaulted his bike loan in Decemeber of 2020 and he had asked me to move the bike in Jan 2021...
Hello fellow riders
I co-signed a 2017 yamaha fz07 for a friend couple years ago, and he defaulted his payments.... It went on collection and destroy my credit...
I have paid off the bike loan and transfer the ownership under my name. So now I'm a motorcycle owner and I don't know how to ride...
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