There are numerous factors to consider in purchasing a vehicle. While buying a brand new car is exhilarating, however, there are various costs and document requirements that you need to consider. Having said that, a number of people then turn to purchase second-hand vehicles.
Though the cost is more affordable than a brand new car, yet caution should be taken before purchasing. If not vigilant, there is a possibility that the car you are planning to purchase is either stolen or is still connected with security interests.
Thus, before heading out to your car dealer and signing a contract, read this article first to find out how REVS check can help protect your purchase.
What does REVS stand for?
Register of Encumbered Vehicles or REVS is a government databank which records vehicle details including information if a vehicle has a financial encumbrance connected to it. The generated report will fundamentally present you if the car you are planning to purchase has an unpaid loan or payables tied with it.
Presently, the Personal Property Securities Register or PPSR reports have superseded the REVS check.
Why is vehicle PPSR or REVS Check needed?
As previously mentioned, the check report is already replaced by the vehicle PPSR report. This new data is also aptly called a car history report since it provides a broader perspective on the history of the vehicle.
In generating a PPSR report, you will be furnished with vehicle details such as odometer discrepancy, financial encumbrances, reports if the vehicle has been stolen, engine number connected to its VIN, and lastly its available write-off status.
Moreover, keep in mind that these checks or reports are considerably simple to generate particularly if you are requesting a report from a valid website.
What are the benefits of these reports?
It is essential that you conduct these checks or reports before deciding to purchase that second-hand vehicle. Furthermore, it is highly advised that you generate a vehicle search a day before or the same day you are intending to buy it. In conducting this quick checks, you are saving yourself from wasting tremendous time and money.
If you end up purchasing a stolen vehicle, eventually under the law you will lose the car that you just purchased. On the other hand, even if the seller failed to provide you this detail, a PPSR report can present you that vital information. Nevertheless, you protect yourself and your asset when you invest in these checks.