The Vehicles Securities Register (VSR) was established in 1987 to provide a record of financial interests in motor vehicles, motor cycles, trailers and caravans. When a person borrows money to buy a vehicle, the lender (financier) may register an interest in the vehicle with the Vehicles Securities Register. A person whose vehicle has been used as security over a loan may not dispose of the vehicle without the permission of the interest holder. If a person disposes of the vehicle without permission and then fails to repay the loan, the interest holder may repossess the vehicle from the new owner. If you intend to buy a second hand vehicle privately, it is advisable to check with the Vehicles Securities Register prior to purchase. A small charge may apply for this service. This service is provided by Transport SA.
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