Why Getting A PPSR And REVS Certificate Is Imperative?
The personal properties security register is a government run service that records and registers it in their portfolio. This is done, first, to keep a record of all the cars, caravans, boats and other types of personal vehicles and secondly the resale of all these vehicles entails some risk of buying something which has been defaulted by the banks or other financial lenders. The banks and the PPSR agency have established a common database in which all the cars and other vehicles are registered and after the sale or purchase of each of these vehicles, the database is upgraded.
In this scenario, if a car owner has defaulted on his/her loan then the PPSR database will list is as such so that the new owner if wants to buy that car will know about the situation and can avert the security interest risk. There are various other reasons to justify why you should go for a PPSR or REVS check:
- Identification: it may happen that the owner of the car or boat selling it tries to sell you a faulty vehicle and ditch you by improving its appearance. Here, if you go for a ppsr check you can clearly know about the car make, model, year of manufacturing, the engine number, the car identification number and similar other details which will ensure its authenticity.
- Theft: sometimes the thieves try to sell the car they stole from somebody, if you will not check the previous history of the car and later it is found in your possession it will cause a lot of trouble for you than you could imagine. Instead, by paying a small amount now and getting it authenticated you can rest assured that the car or any vehicle for that matter does not have a marred history.
- Financial health: the most important aspect of this check is that it will ensure the financial health of the vehicle. It will indicate whether the vehicle has a no objection certificate or not, or whether the owner owes any kind of money in lieu of the vehicle and even the previous parties of the vehicle. All these details will give you a peace of mind regarding the vehicle.
By now you must have realized that why it is so important to get a PPSR certificate of the vehicle that you are going to buy. Not only for cars this service can be availed from the CheckVIN portal at a minimal fee and you can get extensive details of the searched vehicle. The ppsr check service has protected thousands of people from wasting their money on faulty and wrong vehicles.