Before You Buy A Boat - Is There Finance Owing?

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Before You Buy A Boat - Is There Finance Owing?

Buying a boat comes with risk -  doing a $2 search on the PPSR can help you check if the boat, jet-ski, tinny or other type of watercraft you're buying has a security interest registered against it. This could mean it has money owing on it and is at risk of being repossessed.

You can do an Online Boat Finance Check at the Personal Property Securities Register (PPSR).  The Australian Government offers this service for checking if a vessel has money owing to a lender.

The cost is only $2.00 so don't be fooled into paying more! 

Click here for an Online Finance Check. It could be the best $2 you ever spend!

REVS, which stands for the Register of Encumbered Vehicles, is no longer available and has been replaced by the Personal Property Securities Register (PPSR). 

The purpose of PPSR for Boats is to safeguard boat buyers from unnecessary financial loss and damage to your credit history. If you buy a boat without knowing it is financially encumbered (money owing on it) you could have it legally repossessed and lose your investment.  Don't risk buying a boat with costly, hidden problems.