PPSR stands for Personal Properties Securities Register, which is based on the Personal Property Securities Act 2009. It is a reform that brings security interests on a Commonwealth, State and Territory level under one national system.
With a current commencement date of 30 January, 2012, the PPSR enables both businesses and lenders to register their personal property security interests. Interested parties, such as buyers, can search the register to find out if a security interest is present.
The real-time register will be available 24-7. It has previously been successfully rolled out in the United States, Canada and New Zealand. The ultimate purpose of the reform and register is to improve individuals’ and businesses’ ability to use their property to raise capital.
Come January, the register will be used by CarHistory to establish whether a vehicle you intend to purchase is a sound investment. CarHistory, part of the Veda Group, is the first online automotive bureau in Australia. We provide comprehensive vehicle history information for used car buyers.
In addition to conducting a REVS, VSR, Vcheck, NVIS or personal properties register check, we can uncover essential information such as whether a vehicle has been written-off, stolen,floodor storm damaged, or if an odometer reading is inaccurate.
With any one of our CarHistory reports you can quickly and painlessly establish whether a vehicle has a hidden history that could make it a less than stellar investment. Think you can spot a dud from a mile away? Think again.
Research conducted in March 2010 showed that, in just 12 months, 5% of Australian used car buyers had been misled or deceived about their car’s history during the purchase process. The average loss in value or cost of resulting repairs was $4,116 per person.
To uncover the full story of the vehicle you wish to buy, order a CarHistory report online and get the information you need in seconds.