🤑 Checking Money Owing
Are you buying a car with money owing?
You can be sure if you buy a CARJAM report, including a Money Owing check on the Government's Personal Property Security Register (PPSR). CARJAM checks all past plates for your peace of mind.
What is registered security? What does it mean "there is money owing"?
Finance companies usually register outstanding money against the vehicle's registration plate, VIN number and chassis number but not always. Sometimes the security is hidden on one of the vehicle's past plates but CARJAM checks everything. The registered security, i.e. the vehicle itself, in most cases, will be repossessed if the debtor defaults on loan.
CARJAM offers a guarantee against your vehicle being repossessed.
Carjam Online Limited hereby provides a guarantee to you that the vehicle will not be repossessed because the Full Carjam Report does not disclose any registered security for money owing on the vehicle or that the vehicle has been reported to the Police as stolen. Read terms and conditions of this guarantee.
What if a vehicle I am interested in has money owing?
Always make sure the registered security is removed from the PPSR before purchasing. It's risky to accept that the seller will "pay it off" once the deal is done. Note that the finance company listed in the security will only discuss the security details with the vehicle owner.
You must update or buy a new report once the seller confirms the registered security has been removed.