Always run a Quick Revs check before buying a used car.
It is a financially prudent habit and can save you from huge legal problems.
When buying a used car, it’s a great idea to get a PPSR report to check its history – the make and model, the financial status, insurance status, even if it’s been stolen.
But did you know you can also get a REVS check for boats?
Watercraft such as boats and jetskis are all covered under the Personal Properties Securities Registry, just like cars. Every time a water vehicle is registered in Australia, its details are uploaded – and maintained – on this national registry.
A PPSR report for watercraft differs from a PPSR report for a car. A PPSR report for a boat will only tell you of its financial status; that is, whether the boat has been used as collateral on a loan.
It’s important to find out this information when looking to purchase a used boat, jetski, etc. When a vehicle is used as collateral on a loan, it’s said to be financially encumbered. Should the original owner default on their loan repayments, the car can be repossessed – even if it’s now in your possession.
Getting a PPSR report allows you to avoid this situation, or at least, make an arrangement with the seller to insure you against problems (such as guaranteeing that the money you spend purchasing the vehicle goes towards repaying the loan.)
It couldn’t be easier! To get a copy of this report, you’ll need to get the boat’s HIN, or Hull Identification Number. Enter this number, pay the nominal fee, and get an instant PPSR report of any boat you want!