All properties registered in Australia are listed in the Personal Properties Security Register (PPSR). This includes land, apartments, buildings, stocks, livestock, cars, trailers, boats, motorbikes, caravans, etc. Among the motor vehicles, all those that have a 200W motor and a speed of more than 10Kms/Hour have to be registered in the PPSR. So when you want to buy landed property or a second-hand vehicle, the PPSR check is a very important step you must take.
Reasons for conducting a PPSR check
There is no shortage in the variety of second-hand cars available in the market today. But finding a good used car is not always easy. The possibility of being defrauded is very high, especially when there are a number of stolen cars also advertised online. There have also been cases where sellers of the vehicles have hidden some information in their advertisement. They may not disclose the loan status of the vehicle. Also, if the vehicle has a history of robberies or accidents, the information that the seller provides may be incomplete.
Fortunately, there are professional companies you can approach to conduct a thorough PPSR check on the second-hand vehicle before you buy one. This easy and affordable process will save you a lot of money. Without it you do not know the antecedents of the vehicle you are going to buy and you will be very distressed if it is repossessed. This service is not restricted to motor vehicles.
Why should citizens do a PPSR check?
Citizens of Australia can ask for a PPSR check from certified companies for a very nominal fee of 5-6 AUD. This includes the cost of the property history report as well as the PPSR certificate. When you are purchasing a second-hand vehicle you can ask for write-off reports on:
How do businesses benefit from the PPSR check?
Businesses will also benefit from the PPSR check. As a businessman you have to deal with many debtors, creditors, retailers, transport companies, moneylenders, packaging and dispatch companies, etc. Any shady deals carried out by these business connections can also tarnish your reputation to some extent.
Before you strike a deal, whether buying or selling, it is always better to get a PPSR check carried out on the goods or properties of the other parties involved in the deal. From the report you will be able to analyze the paying capacity of the partners, the debt status of the company, business reputation of the company, and whether there are any complaints or pending court cases against them.
The PPSR check report is very easy to get. It is the most affordable and trustworthy source of information on property and goods in Australia. It is a comprehensive register with a database containing information on motor vehicles, land, real estate, copyrights, artworks,etc.So can save yourself from being cheated in a deal when you are buying second-hand goods or property.