Checking for outstanding finance on a vehicle

[gjm 3258]

I'm sure I saw, somewhere, some details of how to check if a vehicle has any outstanding finance against it.

Did I dream it, or is there a ready (and preferably, free) way to do this?

[jeffbebe 1559]

I think carjam.co.nz will show potential issues with a car but you probably have to pay to find out exactly what they are.

[huff3r 347]

http://www.ppsr.govt.nz/cms/searching-the-ppsr/txtb4ubuy

Easy option. There is no free option as far as I know. If that's all you are after the above is best, for further info I always go with Carjam.

[gjm 3258]

Thanks gents.
PPSR is probably the cheapest option at $3. Carjam is $10-15.
For some reason I thought there was a free way to do this, but when I saw PPSR I think that was the site I was looking for. Not free, then, just not expensive.

[qube 3570]

call up every finance company and ask them if there is a loan under said number plate. :)

[gjm 3258]

call up every finance company and ask them if there is a loan under said number plate. :)

Lol

[KwS 2425]

Yeah the PPSR text system is great, cheapest and quickest way of doing it.

[gjm 3258]

Yeah the PPSR text system is great, cheapest and quickest way of doing it.

Makes sense. It can be done while standing next to the car before handing over any money. Not just checks for outstanding finance, but prevents anyone using the car as collateral for a loan.

[thorburn 121]

It can be done while standing next to the car before handing over any money.

This should absolutely, all ways be done.

[qube 3570]

just wondering though, slightly off topic.. say for example that i had a car that i bought on finance and still had X amount of money left remaning to pay, and i went and sold the car to someone else who didnt check it. got paid X amount of dollars but didnt pay off the loan but instead just kept paying the repayments. A) how would the finance company know? and how does it affect the new owner of the car?

[huff3r 347]

I don't know for sure, but you would probably find that as they have a vested interest in the vehicle, then they would probably be notified of the change of ownership by NZTA. It affects the new owner as they cannot use the vehicle as security for any borrowing they wish to do, and it's rather pointless too as the interest on the loan is normally so much, it'd be dumb not to pay it off given the chance.

[qube 3570]

yea i know but just wondering how they would find out? unless they were applying for a loan themselves and using it as security then finding out eventually..

[Cheyne 17]

The lien holder will sometimes be informed of change of ownership by the NZTA. They will be also told by the insurer if you cancel your insurance if insurance was a condition of the loan.

If they find that you have sold the vehicle then they will likely call in the loan and repossess the car at that point until the issue is resolved.

From the new owner's perspective if they don't check for outstanding finance on the car, then the first they'll know about it is when their car is repossessed.

[thorburn 121]

I've personally purchased a car that had a loan put on it 3 days before the ownership changed. A week before i'd got the check from carjam.

NZTA never notified me of this. About a year after purchase the seller (who is/was a member here) missed some loan payments.
Then I got this lovely pink letter

This was the first I knew of the loan.

There used to be a post about this on my build thread but it seems to of been removed.

I could go on but it would seem someone didn't like me talking about it last time

Edited October 25, 2014 by Thorburn

[yng_750 247]

Kyu. In reality if you keep paying nothing goes wrong for either party