We recently had an example within our Group where we were approached to provide finance against a used truck. The reason for the request was that the client had already paid cash for the truck and was seeking to refinance this amount.

The client also advised that there was not any debt over the truck they purchased.

All seemed straightforward until:

  • It was discovered by us that the client had not signed any local roads authority transfer papers. They only held a tax invoice for the sale. 
  • A subsequent search of the Personal Property Securities Register showed a financial interest in the truck to a Major Bank.  



  • The client didn’t have title in the truck. The truck was still registered in the previous owner’s name.
  • It was also determined that there was debt against the truck for $10,000 to a major Bank.    

Whilst this an unusual situation (as no local roads authority transfer papers were signed) it also highlighted the importance of checking the Personal Properties Securities Register (PPSR)

About the PPSR

The PPSR is a national online register that provides important information to help protect consumers and businesses that are buying cars, boats, caravans, trucks, tractors, vans and other serialised assets.  The PPSR does not include land or buildings.

A $2 PPSR search before purchase provides peace of mind that the item is:

  • safe from repossession (that a financier security interest is not registered against the asset. If a security interest is registered it needs to be removed to ensure the debt has been paid and the purchaser has clear title)
  • not reported as written off
  • not reported as stolen
  • not subject to the Takata airbag recall.(if applicable)


Find out more here