Why Should You Get a PPSR Report?Dec 14, 2016
Before you buy a used car — or even one that’s advertised as new from someone you aren’t familiar with — it’s good to get a bit of a background check. That’s where a PPSR report comes in.
What Is PPSR?
PPPSR stands for Personal Property Securities Register. It’s a national online entity that provides information about things such as autos, boats, or works of art. This information is designed to give you assurance about the item you want to buy, or at least, enough information to make an informed decision.
When Do You Need A PPSR Report?
It’s a good idea to get a PPSR report before buying a “pre-loved” item. This could be a car, a bike, a caravan, a trailer, or even a boat. It basically lets you know if there’s anything in the vehicle’s past that could come back to haunt you as the new owner.
For example, say you want to buy a used car. You get a PPSR report, and you see that the vehicle is actually attached to an outstanding loan. If the previous owner defaults on their loan or, for whatever reason, has any of their assets repossessed, there’s a good chance you’ll lose your car. Knowing that the car is attached to a loan lets you ask relevant questions of the owner, such as finding out how they’re repaying the loan, or simply decline to buy the vehicle.
With a little effort and a minimal fee, you can save yourself the hassle and stress of having to dealing with these issues after they become serious problems.
Why Get A PPSR Report When Buying a Car
The PPSR report is comprehensive enough to not just cover financial liability attached to the car, but other important information as well.
The PPSR report can tell you about the registration history — whether it has been properly registered, how long the registration has left, or if the registration is expired.
You can find out if the car is actually stolen, or has been previously written off in an insurance claim. The report will even tell you if the vehicle has previously been water-damaged.
Other ChecksAfter you’ve got the information from the PPSR report it’s still a good idea to get registration information from the previous owner. This will allow you to check if the VIN, registration number, and engine or chassis number match the information given. If they don’t, you could have a number of serious issues on your hand in the future. Save yourself the stress and check before you buy.
Road assistance associations such as RACQ, RACV, etc. can be contacted to perform a professional vehicle inspection. This inspection will help verify the VIN — the most important piece of information you need for an accurate PPSR report — and chassis, as well as find out if the odometer has been tampered with.
With all this information you’ll be able to make an informed and, hopefully, safe decision on whether or not to purchase the vehicle. Don’t risk your hard earned money purchasing something that could be snatched away at the blink of an eye, or worse, will be a dangerous liability to have. Get a PPSR report and peace of mind today.