Purchasing your first car is an exciting experience, full of possibilities. You get to choose your budget, make, model, mileage, and of course, the color that suits you best. But beyond all the fun, there are important practical steps to take before sealing the deal – like scheduling a mechanical inspection, securing insurance, and most importantly, conducting a PPSR search.
While buying privately can offer great deals, it also comes with more risks. Before you or your parents hand over any money, it’s crucial to make sure the car doesn’t have any hidden problems. That’s where a PPSR.com search comes in – a quick, affordable way to uncover vital details about the car you’re eyeing.
What Can a PPSR Search Tell Me?
A PPSR search gives you peace of mind by checking if the car is:
- Debt-Free – If there’s any outstanding finance, the lender could repossess the vehicle, leaving you with nothing but a hole in your pocket.
- Not Written Off – Has the car been involved in an accident or affected by natural disasters like floods or hailstorms? The PPSR can confirm if the car has been officially written off.
- Not Stolen – You don’t want to risk buying a stolen vehicle that could be seized by authorities.
Did you know?
As of 30 September 2024, nearly 5 million motor vehicles in Australia are registered on the PPSR. This means these vehicles are financially encumbered due to outstanding secured loans or other forms of security interests. That’s a significant number to be aware of when shopping for your next used car, as you could easily end up purchasing a car that’s still under financial obligation.
When Should You Conduct a PPSR Search?
It’s recommended to run a PPSR search twice. First, do it as soon as you find the car you’re interested in. Then, conduct another search on the day of purchase to make sure nothing has changed in the meantime. This double check ensures you’re fully protected from any hidden risks.
A small investment for a PPSR search can save you from major headaches down the road. Don’t risk it – take the simple step today for a safer, smarter car purchase!