PPSA
The Personal Property Securities Act gives you some protection against money still being owed on goods being sold. This sets up an electronic register run by the Ministry of Economic Development. If money is borrowed using goods as security, then the lender can list details on the register. Before you buy anything second-hand of significant value, check the Personal Property Securities Register to see if money is owing. Searches are done online (www.ppsr.govt.nz), and cost $1.02.
The system works well with cars because you can search, not only by name, but also by the vehicle's serial number. For most other products, searches are less reliable because you need to know the name of the borrower. Even then, this may be disguised.
Our advice
- Have a very close look at what you plan to buy. If you're not an expert, take along someone who knows more about it than you.
- If you're buying from a trader, make sure you get a receipt which shows what you've bought, the amount you paid, the name and address of the trader and the date. Keep the receipt in a safe place.
- Keep a copy of any advertisement, catalogue or sales tag referring to what you've bought.
- If one particular feature of the item is important to you (the grill on a stove, for example), ask the dealer to make sure it works properly.
- Bargain hard, whether you're buying or selling, privately or through a dealer.
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