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PPSR check is a basic need for used vehicle buying.  This eliminates not the only monetary loss but also ensures peaceful possession of the bought vehicle. If done without PPSR check the purchase could land up with a lot of unseen difficulties and cause a lot of mental stress.  Thus buying a vehicle for smooth conduct of life may lead to a lot of stressful undesired events.  The used vehicle business in Australia is high since the new vehicles cost more.  So for those who could not afford to buy new ones end up buying used vehicles for meeting the day to day life necessities.  These buyers or not of the elite class of rich people who buy every new model hitting the market.  They save little by little and buy a used vehicle for necessity rather than a luxury.  So to safeguard this middle-class people from hazardous purchase the Australian Government has amended many laws to bring in the new law empowering PPSR to register all encumbrances and details of used vehicles.
PPSR check
  • PPSR:
Personal property securities register authorized by AFSA or the Australian Financial Security to register all details of the vehicle on roads of Australia.  A record of all details of the vehicle is registered with PPSR. A PPSR certificate will have all the details pertaining to any vehicle on roads in Australia.  All the police reports pertaining to accidents, theft of vehicle or parts of it, any write of due to damage because of fire or floods are registered with the PPSR.  Since it is an official report it is safe to obtain one to have a peaceful purchase.  Also to refute any claims in future this PPSR certification will give a helping hand legally to safeguard one's interest in the vehicle.
  • PPS Lease Amendment 2017 :
PPSR was amended on 20th May 2017 to Personal Property Securities Amendment or PPS leases.  The main change is the extension of lease from more than one year to two years. And this will apply only to leases entered only after 20th May 2017.  This will reflect in the PPSR certification on leases.
  • Fields covered by PPSR Check :
  • Financial debt including pending EMIs and collateral due pending
  • Possession issues pertaining to theft, write off due to damages because of flood, fire, and accidents, and lease issues.
PPSR check is an effective tool in businesses of hiring, renting, selling, buying, leasing, financing, and many more.  Thus PPSR check is vital for peaceful business transactions.
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