How to Use the PPSR Report?
A PPSR search report offers plenty of information to its users. The report gives you an excellent overview of the life of the car and what kind of problems it can suffer in the future. If you are thinking of investing your hard earned money in a second-hand car, here are six ways in which you can effectively use your search report from Quick PPSR. Read More….
How can you use a Quick PPSR Search Report?
The PPSR report has several components, each of which you can use independently. Below is a brief look at the various ways you can use a PPSR search report.
To Cross-check Property Ownership Details
Every car has details tied to its ownership. The Vehicle Identification Number (VIN), registration number and the end date of registration, identify the car and its owner, and are all listed on the report generated by a PPSR check. You can therefore use the PPSR search report to crosscheck the details provided to you by the seller to the actual registration details listed on federal databases.
To Look up Money Owing
When buying a property, particularly a used car or motor vehicle, it is prudent to ensure that there are no financial hurdles to jump through when making the purchase. A PPSR check report ensures that you do your due diligence as a buyer by availing to you information about any financing tied to that property. You can ensure that you do not unwittingly buy a property with a debt attached to it by going through the PPSR Registration section of the PPSR search report.
To Verify Property Specs
A PPSR search report contains details drawn from the NEVDIS. For instance, if you are looking up a used car on NEVDIS, the report generated after a PPSR check will list the make and model of the car and its condition.
To Validate the Write-Off Status of an Asset
To predict how a car will fare in future, you need to be aware of how it has performed in the past. You can use the Written Off section of a PPSR search report to find out whether a property has undergone any damage, and therefore foretell how it is likely to perform as a result of that damage or lack thereof.
To Search for Stolen Property
With the large annual car thefts in Australia, a buyer can never be too careful when purchasing a used car. To ensure that you do not purchase a stolen car or motor vehicle, look up the stolen status of the car using the PPSR check. No results in this section of the PPSR report could be your green light to buy the vehicle.
As Proof in a Legal Proceeding
A Quick PPSR search report is typically accompanied by a complementary government-issued PPSR certificate, which can be used as proof of ownership or of property status at the time of purchase in any Australian court of law.
In conclusion, to make the best use of a PPSR report, familiarize yourself with it. Learn what each section means, then understand why it is significant.