If you are considering buying a motorcycle myPPSR.com.au allows you to conduct a search of any financial interests on that motorcycle.
To protect yourself, before you make that final decision, it is critical to check that the used motorcycle you are buying as no existing financial interests. If you are buying any type of motor vehicle privately you should conduct a search of the PPSR to check that there is no money owing on the vehicle. Motor vehicles include cars, trucks, tractors, motorbikes, trailers, caravans, or any vehicle capable of travelling at more than 10 km/h that has a total motor power of more than 200 W.
Don't commitment to that purchase without a myPPSR search. If you don't, and the previous owner still has money owing on the motorcycle, the financial institution owed that money could potentially repossess the motorcycle if the debt has not been settled.
Your PPSR certificate provides you information that will verify:
- Financial interests
- Damaged, or
- Written off