Encumberance When Purchasing Boats

[varos1911]

When purchasing vehicles(cars) you can do a REVS check to see if the vehicles is under finance and if it has been in any accidents.

How can you check if a boat is under finance when buying it second hand privately ? also what details are needed ?!

[Robbielites]

REVS do it mate.

Left hand side of the screen on the front page REVS for boats

Robbie.

[chrisg]

Varos

Every boat should have a HIN number...I think you need this for a Revs check. Many older boats don't have it and you can't transfer documents without it. You are not supposed to sell a boat without one either. It will cost you up to $100 to do so bear that in mind when coming to a price.

Cheers

Chris

[pelican]

On a side note on buying a boat that has had finance make sure you directly pay out the finance company and get clear title directly from the finance company when buying a boat privately. Don't accept the sellers word that they will pay it out or a receipt. So often I have seen sellers get the cash in hand and never pay out their loan. The finance company then chases down and reposses the boat as that is what they had security on.

Get a receipt off the seller which states that the boat, motor trailer and accessories are wholly owned , unencumbered and no one else has any interest and also a revs check as at least if there is an issue later on the court will then know the seller was a liar which may help. Make sure numbers line up on boat and trailer rego and HIN and engine serial numbers as people have been known to "substitute" encumbered items into a sale. Have all those numbers on your receipt.

There are a lot of stolen boats out there so don't be pressured or take any shortcuts when buying.

There is only a small proportion thieves so try and make it hard for them and do all the checks and if you get a feeling the boat isn't theirs walk away.

[johnno]

Some good advice so far

Also when you do your checks for money on them do it as close to possible

of purchase as they can always get finance on it after you have done your check.

When i bought my boat there was 6 days that passed when i did my first check

to the date i purchased it. I also done the revs check 1 hr before purchase.