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How to check if a car has money owing?

4 years ago

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Lenders typically register a security (effectively gives them first right to the vehicle) against the vehicle on the Government’s Personal Property Security Register (PPSR).  We check the PPSR to see if there’s a security, but that’s not all - we check all past plates too!

Learn more about securities

money owing carPast Plate Check

Finance companies normally register outstanding money against the vehicle's registration plate. However, if the registration plates are changed, the vehicle may appear debt-free when it’s not. Our Past Plate Check™ protects you from hidden debts by checking for money owing on all previous registration plates, giving you peace of mind.

We're the only company in NZ that has a Repossession Guarantee

Should your vehicle be repossessed because it had a registered security (money owing) or is seized because it was flagged as reported stolen, and that information was available to us at the time but was not displayed on the VIR®, we will compensate you up to $100,000, providing you meet the Terms and Conditions.

What should I do if the vehicle I’m looking at buying has a registered security / money owing?

If a vehicle you are interested in purchasing has money owing on it (a registered security), arrange with the seller a way to ensure this is removed prior to making payment.

The finance company listed in the security will only discuss the details of the security with the vehicle owner (the debtor).

Once the owner says that the security has been removed, you should generate a new VIR® to confirm the vehicle has clear title. This is the only way to be certain.

If the seller is reliant on your payment to repay the loan to the finance company you could arrange to pay the finance company directly yourself (do not rely on the seller to do this), and pay the remaining amount to the seller.

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