We are also in New Zealand, the bike is being shipped to USA and we plan to ride down through Central and South America from June.
I have just put our registration on hold for a year. Your post raises some interesting questions, if stopped how do they know we are or aren't legal in our home country?
The bike is still fairly new so the warrant of fitness will be good while we are away.
BUT the registration, what does it mean to be "legal to ride in the home country"? If we have to make a claim will they really even know about NZ registration?
(When are you leaving NZ?)
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