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Investigate before buying a second-hand car

Inder Singh Thakur
Submitted by inder on Mon, 12/14/2015 - 12:30

Did you know you can search the Personal Property Securities Register (PPSR) to find out if the second-hand car you are considering buying privately may have money owing on it?  For less than the price of a cup of coffee the search is worth it for the peace of mind it gives you.

Imagine this scenario: Ramesh spends weeks finding the car of his dreams.  He settles on a tidy, red Holden.  It’s a little over his price bracket and even though Ramesh negotiates a deal with the seller, he still needs to sell his existing car and take out a small loan.  Once the finances are sorted, Ramesh takes possession of the car and registers it with Himachal Transport in his name. What if later Ramesh comes to know that there were loans againest that Car??

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