When Do You Carry Out A PPSR Search

 The Government of Australia’s official register of a security interest in personal property is known as the PPSR system. The interests are primarily related to debts and other obligations on personal property which include cars, company assets, boats, cars, used goods, and intellectual property but not land or fixtures. Access is provided 24x7 to the register through an online noticeboard and anybody can access it for a PPSR search of a particular property.
 A PPSR search shows whether the property you intend to buy is free from all encumbrances and lien so that you can transfer clear title to your name once payment has been made without the fear of repossession later. This is why it is critical to do a PPSR search more so in the case of buying used vehicles as it is very easy to otherwise hide their history. You will be astonished to know that of all the cars put on the market for sale every 1 in 100 is flood-damaged, 1 in 50 has a tampered odometer, 1 in 15 is a rebuilt car, and an astounding 1 in 5 is a salvaged car. Only a PPSR search will give you a true picture of your intended purchase.

A PPSR search for a vehicle is done through a VIN (Vehicle Identification Number) search, a 17-digit number of alphabets and numerical that is specific to it. A VIN search will tell you about the body type, engine number and type, vehicle color, year of manufacture, vehicle make and model, and compliance plate details. Once these details are in your hands you can at once know if the one that you are investing in is authentic and worth your money.

Comments

Post a Comment

Popular posts from this blog

Why Should You Check A Caravan VIN Number

Image
 Before going into the reasons to check a caravan VIN number before buying a used one, it is necessary to understand what VIN stands for and how you check it.  VIN is short for Vehicle Identification Number that has been assigned to all caravans manufactured anywhere in the world after 1992 and hence a VIN search can be done for caravans put on the roads after that year only. The VIN is etched at the corner of each window and on the doorpost at entry. The VIN number consists of 17 characters of the alphabet and numerical. Each character represents a unique aspect of the caravan such as body type, engine number and type, vehicle color, year of manufacture, vehicle make and model, and compliance plate details. VIN ends with 6 numerical which is the serial number of the caravan.  Why do you have to c heck a caravan VIN number and the current status will be before you immediately. A check will also show whether a caravan is flood-damaged which 1 in every 100 caravans on sale...
Read more

What Information Can be Had from a PPSR Certificate

Image
What is the PPSR (Personal Property Security Registration) system and when is it important to get a  PPSR Certificate? The PPSR is the Australian Government’s official register of a security interest in personal property that primarily includes debts and other obligations like lien. This online register and noticeboard can be accessed 24x7 by the general public and if necessary, a  PPSR Certificate   related to a specific property can be obtained. The PPSR was launched on 30 th  Jan 2012 and replaced many state-based registers like the REVS and other vehicle registers as well as the ASIC Register of Company Charges, and others. All these were combined to form one single national register. What happens when you register an interest on the PPSR? You are informing everybody about your claim on a specific personal property and that you have a security interest in it. This will be reflected in the  PPSR Certificate   if anybody chooses to get one. Personal prope...
Read more

What is the Purpose of a PPSR VIN Check

Image
The PPSR (Personal Property Security Registration) system is the official register of a security interest in personal property maintained by the Government of Australia. Personal property for the purpose of PPSR includes cars, company assets, boats, used goods, and intellectual property but not land or fixtures. Launched on 30 th Jan 2012, the system substituted all registers of states like the REVS and other vehicle registers, the ASIC Register of Company Charges, and others. Now, why should you do a PPSR VIN check before buying used personal property like cars, caravans, boats, and any other type of vehicle? VIN or Vehicle Identification Number is an exclusive number that is allotted to every vehicle that rolls off the production lines and a PPSR check establishes its authenticity. VIN is a 17-digit number of alphabets and numerical, each digit representing a specific trait of the vehicle - where the vehicle was built, the manufacturer, brand, engine size, and type of vehicle, th...
Read more