The PPSR has replaced registers such as REVS and VSR and is now the single national register for motor vehicle encumbrances.
If you are buying a second-hand vehicle privately, you should check the vehicle’s VIN on the PPSR to see if it might be repossessed.
You will also get other useful information about the vehicle including any available records of police interest in the vehicle and whether the vehicle is recorded as having been written off.
The PPS Act (PPSA) protects purchasers when buying or leasing a vehicle from a licensed motor dealer. If you are buying or leasing from one, there is far less reason to search the PPSR because you will be able to enjoy your ownership or lease free of any security interest, even if it is registered.
For more information see Motor vehicle searching and buying protections.
Protection when dealing in spare parts
Often vehicle spare parts are sold on the basis that the purchaser takes the spare parts but legal title remains with the seller until the parts have been paid for in full.
Under the PPSA, these types of arrangements are likely to create a security interest in the spare parts.
If you are selling or supplying your spare parts on such terms, a registration on the PPSR protects your interest in the goods, should your customer default and go broke. It also helps you to protect your interest in the proceeds even if the goods/parts are sold on, or if parts are installed onto other goods.
For more information see Case study: