Boat Buying Guide And Encumbrance Check

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Boat Buying Guide And Encumbrance Check

Boat Buying Guide

When it comes to buying a boat, boat selection is about knowing your own requirements. Determine what you want the new boat to do and in what conditions it will operate, then choose a suitable vessel.

Remember that no single vessel will perfectly suit all uses. Therefore you can either buy lots of different boats or be prepared to compromise.

Ultimately you may have to compromise on price but avoid any compromise on safety.

Whether this is your first or 15th boat it is important to research your potential purchase carefully.  By continually building on your knowledge and experience you will increase your boating enjoyment and safety. Thankfully there are many sources of boat buying information including:

As with any substantial purchase use your common sense when you buy a boat:

Is there Finance Owing? Encumbrance Check for only $2.00

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 check at the Personal Property Securities Register (PPSR). The cost is only $2 so don't be fooled into paying more.  The purpose of PPSR for Boats is to safeguard purchasers of boats from unnecessary financial loss. 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.