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Wanting to buy a JDM car in the future but there is a couple of issues

silviaz

By silviaz,
in General Automotive Discussion

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silviaz Experienced

silviaz

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22 hours ago, Ben C34 said:

Rego papers aren't proof of ownership. Pretty sure it says it on them

 

Oh yep just checked and it says that. So looks like according to Fair Trading a written receipt is proof that I'm the owner of the car.

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Ben C34
Ben C34

Buy them both

soviet_merlin
soviet_merlin

Some thoughts on this. a) I'd say it depends. Talk to the owner and gauge what they are like. Even though the internet says so not everyone is out there trying to rip you off. I bought my Stagea

Kinkstaah
Kinkstaah

Yes and no - What else out there exists that feels the same, and isn't watered down my modernity which surely crossed a threshhold somewhere. The big contender would be the new 86 when IT depreci

R33GAS Apprentice

R33GAS

Posted
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5 hours ago, silviaz said:

I found out for the PPSR stuff, that finance companies don't need to list the finance on the security register so there's the risk you could buy a car that doesn't have the finance listed lol. 

If the finance company has not registered their security interest on the PPSR, then they do not have a valid/enforceable security interest. Similarly, an incorrect VIN (let's say, one number or letter was entered incorrectly at time of security interest registration), means that the vehicle registration is unperfected and therefore ineffective. 

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