PPSR - Finance Check - Financial interests reported
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Thread: PPSR - Finance Check - Financial interests reported

  1. #1
    1000+ Posts N5GTi6's Avatar
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    Default PPSR - Finance Check - Financial interests reported

    I'm looking at a car to buy and the PPSR report shows that there are 'Financial interests reported'.

    Where to from here ?

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    A/ Insist that the debt is cleared before the sale ?

    B/ Factor the debt into the purchase price ?

    C/ Run screaming far away ?

    Cheers

    Justin
    '07 C3 Exclusive
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  2. #2
    1000+ Posts robmac's Avatar
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    IMHO if you are unsure of the nature of the interest or the likely ramifications thereof.

    The sensible choice is reject the purchase and seek a vehicle with an unencumbered title.
    Dano likes this.
    Mutual Respect is Contagious


  3. #3
    1000+ Posts FIVEDOOR's Avatar
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    I would suggest that majority of new cars are sold with finance or lease arrangements, so one will struggle to find late model car that the original owner is selling without encumbrance. If one does not want to deal with encumbrance, imo it will rule out most/many private sales and leave one with dealers.

    I know of someone who had two bank cheques drawn, one for the seller and one for the finance company and they both attended the finance company together to settle the outstanding. I am sure the are other methods, but I would talk to the seller in the first instance, he may have a suitable plan ready, but in any case make sure your interests are covered.
    Any day I wake up and don't have to go to work, is a good day
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