What is the Personal Property Security Register?
Financial Disasters Happen!
Write-Offs and Stolen Vehicles - Take Care!
Besides alerting you to the fact the vehicle may be subject to finance, the PPSR can also make you aware if the vehicle is an insurance write-off or is stolen.
A few years ago, one of our team members was buying a second-hand car for his daughter.
By using the PPSR he discovered the first three vehicles they looked at were all insurance write-offs!
All the vehicles were well presented, had low kilometres and the vendors had sound stories as to the vehicle history and why the car was being sold.
The problem with insurance write-offs is that the vehicle is likely to be uninsurable and its longevity questionable.
By using the PPSR and spending a small amount of money, disaster and heartbreak for the daughter was avoided!
Critical Information Required!
Purchasing a Motor Vehicle for many people can be an emotive decision.
When we find a car that aligns to our needs and which is priced right, the temptation is to proceed quickly!
But that can be a recipe for disaster!
To avoid disaster when buying a second-hand car – always undertake a PPSR check before handing over any money!
If you would like to learn more or need finance – give me a call on 0433 210 353