PPSR REPORT

The Personal Properties Securities Register (PPSR) allows interests in personal securities to be searched and registered according to the Australian Personal Properties Security laws. The PPSR report is a vital resource for citizens looking forward to acquiring various properties which they fear may have some security interests attached to them.

What is PPSR Report?

When you make an inquiry on the PPS Register, you will get the report which will state whether or not the item in question has a financial interest or encumbrance on it. If an interest or an encumbrance is recorded, the report will give the following details:

At this point, you will have no defence, and the laws will work in favour of the financier. As such, you will end up a double loser – you’ve lost your money and your newly acquired car. This kind of agony can be avoided by using the Car History Report before you make the purchase.

Getting Comprehensive Car History Report

A search on the Car History Report will give you a comprehensive report on all the vital information you need about the car as far as financial interest is concerned. In addition to the financial interest, the report will also give you a greater level of details with regards to other vital information such as written off records, registration details, stolen car check, VIN validation and odometer check amongst others.

• The name & the address of the interest holder or financier.
• The date which the interest was recorded on the Personal Properties Securities Register.
• The specific details of the car, motorcycle or the boat as recorded on the PPSR.
• The type of interest held against the car i.e. hire purchase, debt, lease etc.

In addition to the above, the PPSR report may also indicate other advisory information regarding the vehicle and these may include the check for cars or trucks reported as written off, stolen, flood and storm damages amongst others.

Understanding PPSR Report

When you use the PPSR to check on a car, you will use the registration number and the state or region of registration to pull up the car’s information. In all the searches, only two outcomes are possible:

1. No security interest or other registration kind against the serial number searched – this implies that there are no outstanding debts recorded against the car in question.
2. Your search shows one or more registrations – this implies that the car in question has outstanding debts recorded against it on the PPSR.

You are encouraged to get the PPSR report before you final the purchase of the car you are interested in. If there are no registrations, you may go ahead and complete the purchase, but if there are registrations, you may want the seller to clear them first or you may consider purchasing another vehicle because you don’t want to inherit debts from the purchase of the car.