Before going into the reasons for carrying out a PPSR VIN check, it is necessary to understand the two in isolation – PPSR, and VIN.
The official register of a security interest in personal property or PPSR (Personal Property Security Registration) system is maintained by the Government of Australia. Personal property includes cars, company assets, boats, used goods, and intellectual property but not land or fixtures. The interests are related to debts and other obligations such as having a lien on personal property. The register was launched on 30th Jan 2012, substituting all registers of states like the REVS and other vehicle registers, the ASIC Register of Company Charges, and others.
Now comes the VIN portion in the PPSR VIN check. VIN (Vehicle Identification Number) consists of a mix of 17 alpha-numeric characters, each denoting a certain aspect of a vehicle – cars, caravans, boats, and motorcycles. In cars, the VIN is embossed on the driver-side doorpost or on the dashboard portion that is nearest to the windscreen. In caravans it is on every window post and the entry door post.
The information that can be got from VIN is where the vehicle was built, the manufacturer, brand, engine size, and type of vehicle, the security code that denotes that the car has been authorized by the manufacturer, model, year of the vehicle, and which plant manufactured the car. The last six numbers constitute the serial number. VIN is like a fingerprint as no two can ever be alike.
Now, before buying a used car or caravan, or any other vehicle, why is it necessary to undertake a PPSR VIN check. It is because from the VIN you get to know the complete history of the vehicle such as thefts, warranty, claims, recalls, registrations, insurance coverage, and especially if there is a financial lien on the car.
The last aspect should be especially important to you as a buyer as it will not be possible to transfer the clear title to your name if there are any dues or loans from a financial institution outstanding on your intended purchase. Only a PPSR VIN check can bring out the details.
A PPSR VIN check will also show the past condition of the vehicle. It is hard to imagine that among the cars in the market for sale, every 1 in 100 is flood-damaged, 1 in 50 has a tampered odometer, 1 in 15 is a rebuilt car, and an astounding 1 in 5 is a salvaged car. If you happen to buy one such car not only does your investment go down the drain but you also jeopardize the safety of the occupants on the road. The only way to ensure this does not happen is through a PPSR VIN check.
Before buying a used vehicle, you can have PPSR VIN check from a specialized website in this field against a nominal payment.