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- The new Security Interest Extract can be used to check if an encumbrance has been lifted from a vehicle.
- A Security Interest Extract from Dealer Solutions costs *$7.35 including GST. This will save you $4.50 over the price of a REVS Certificate each time you need to check an encumbrance status.
- A Security Interest Extract CANNOT be used in place of a Security Interest (REVS) Certificate when selling a vehicle to another dealer or to the public. You could be fined up to $15,000 if you do not use a Security Interest (REVS) Certificate under these circumstances.
- You can choose to use a Security Interest Extract when acquiring trades because this is a discretionary search however, the Security Interest Extract does not provide the same protection as a Security Interest (REVS) Certificate. If necessary you should seek your own legal advice in this regard.
* Price displayed is the Dealer Solutions REVS account holder's price for payment by direct debit.
- When you take a trade or buy a vehicle outright from a member of the public, we recommend that you obtain both a REVS & WOVR Certificate so that you have official proof of the vehicle's written-off and encumbrance statuses at the time you acquired it.
- When you have paid out the finance on a vehicle and need to check that the finance company has lifted the encumbrance, we recommend that you obtain a Security Interest Extract and save $4.50.
- When you wholesale a vehicle to another dealer, you must obtain a REVS Certificate on the day of sale and provide it to the other dealer. If the vehicle is unregistered, you must also advise the other dealer if the vehicle has a written-off status on the written off vehicle register.
- When you sell a vehicle to a member of the public, you must obtain a REVS Certificate on the day of sale and provide it to your customer. If the vehicle is unregistered, you must also advise your customer if the vehicle has a written-off status on the written off vehicle register.
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