Do you Need Full Car Report or PPSR is Enough in Australia

As is well known, registering with the PPSR is one way to inform the public that the personal property, for example, company goods or assets, is covered by a lien. Automobiles are no exception. 

Just when you need a used car to buy in Australia, you would wonder what a PPSR is exactly and how it can bring benefits to you. Money is the best possible way to help protect you as a consumer while making a large personal property purchase investment.

Registering your lien properly in a PPSR could help protect yourself and provide you with extra security rights over the asset it is recorded against.

So how does this procedure work and what does it require?

Read about this and much more below.

PPSR Report Overview

The Personal Properties Securities Register is an Australian national online registry that provides consumers with information designed to protect their purchases of personal property. 

The full ppsr report provides car buyers with all the information they need to make the best financial decision, limiting the risks of buying a faulty vehicle.

Thus, there are millions of registered vehicles in the system and millions of inspections are conducted every year.

PPSR report contains the next information:

1. The financial debt on the PPSR.

2. Data recorded under the VIN (vehicle identification number).

3. Brand, model and color.

4. Notification of the write-off of the vehicle.

4. The status of the write-off.

5. Status of theft.

In case the vehicle was subject to a forced recall and was not repaired individual sellers are not required to provide potential buyers with a PPSR report. All vehicle dealers in Australia are required to provide buyers with a PPSR report.

PPSR is managed by the Australian Financial Security Agency (AFSA), so the data provided is official and verified by the government. Since it is the official database of the pledged property, you get reliable information.

Importance of the PPSR Report 

The used car market is booming all over Australia. It's important to keep in mind the risks of buying a car privately here. If you or someone you know is looking for a car, be sure to do a PPSR quick search.

A PPSR search will help you determine if the vehicle is:

• - Debt-free and safe from possible repossession by a bank or financier;

• - Is listed as stolen or written off; 

• - Not subject to an airbag recall;

• - Whether the vehicle is listed as written off is especially important in areas affected by natural disasters (flooding and hail, which often hit eastern Australia). 
  

Damage from natural disasters can cause a vehicle to be classified as a write-off to be repaired.

Vehicle security register with PPSR helps protect you and lets others know that you have an interest in the vehicle. In some services, PPSR registration is done online and is available 24 hours a day, 7 days a week.

You will receive a PPSR Certificate that will contain relevant information about the vehicle up to the date you requested the report. This includes financial debt, stolen checks, written checks, water damage checks, ppsr rego check, engine number check and registration details. 

Acquisition of the PPSR

A PPSR report with minimal cost and fees can be purchased from the official state registry.

All you have to do is provide the vehicle identification number (VIN).

It's important to know that if you want to purchase a car from a car dealer, many of them will provide the PPSR report for free