Faq

Auction Process

  • Do you offer live bidding?

Live bidding is available. Live bidding allows a customer to virtually watch the live auction in process. To participate in a live auction you must log in to your account, have your initial deposit for ability to bid and call BuyAuctionAuto.com specialist to arrange and schedule the live bidding on your selected car.

  • What is the difference between, “auction” car, and a “Buy Now” car?

Customers who use the “Buy Now” option can purchase selected vehicles without waiting for an auction or competing against other buyers. The Buy Now option allows customers a chance to buy a car immediately at a fixed price.

To purchase a “Buy Now” car, the user must have a deposit of 20% of the “Buy Now” price on their account. For a “Buy Now” car once the customer provides a 20% deposit, the car will be purchased outright from an affiliated dealer. At this point, the purchase is secured.

  • What is a Reserve Price?

Some cars for sale may have a reserve price. The reserve price is the price that a seller indicates they want to get to sell the car. Sellers can also sell cars with No Reserve as well.  Seller’s personal information is not disclosed to protect the privacy of sellers and to discourage negotiation outside the auction forum.

  • What does the bid amount include?

The bid amount covers the price of the vehicle at the auction. Other fees such as auction fees loading fees, documentation fees, and transportation are not included in the bid amount and are added on top of it. These fees vary from item to item, depending on the price of the vehicle, auction type, and location.

  • How does the auction process work?

A customer will place a bid on a vehicle before the specified auction closes. For the bid to be accepted and presented the customer must activate the bid by submitting a $500 or 10% deposit (whichever is higher). The customer with the highest active bid is notified shortly after the deadline of being the highest. At this point, the necessary arrangements to finalize payment on the car must be made.

We provide you access to dealers only auto auctions across California and the USA (coming soon). These are private and dealers’ only auto auctions and public would not have access except through BuyAuctionAuto.com unique platform. Once a customer places a bid on BuyAuctionAuto.com site, it is then presented to affiliated dealer(s). If the customer is the successful bidder, our affiliated dealers acquire the vehicle for the customer, who is required to pay the balance within two business days.

 

Deposits and Pre-Bidding

  • Is the security deposit refundable?

Security Deposits are refundable as long as they are currently not applied to open bids or unpaid charges.

For example, if a customer does not win an auction or the customer does not wish to compete for any further auctions in the future any funds left in the customer’s account will be refunded to the customer by the method of deposit.

The method of depositing the refund is at the site’s discretion. Please note fees for incoming and outgoing wires will be deducted from the amount of deposit. If the refund is remitted by check, the amount of refund will be $40 less ($40 incoming wire fee) than the deposit. If the refund is remitted by wire to a US customer, the amount of refund will be $85 less ($40 incoming wire fee + $45 outgoing wire fee) than the deposit. Refunds are processed weekly and are remitted within 30 days after customer request.

IN THE EVENT THE CUSTOMER IS A WINNING BIDDER AND THEN FAILS TO COMPLETE THE TRANSACTION, THE CUSTOMER FORFEITS THE SALE, AND ANY SECURITY DEPOSIT FUNDS APPLIED TO THE BID IN QUESTION. AS SUCH, IT IS IMPORTANT TO BID CAREFULLY AND ONLY COMMIT TO PURCHASES ONCE INTENDS TO COMPLETE.

  • How does the security deposit process work?

Security Deposits are $500.00 or 10% of the bid amount, whichever is greater. The security deposit must be made to activate a bid. Customers may make deposits via Credit Card and PayPal.  Making a security deposit allows the customer to enter the bidding process. Once a bidder has sufficient funds in his or her account to exceed the minimum deposit account the customer will be able to place an active bid. Otherwise the bid will remain in disable status. For example, a bidder (You, the Customer) deposit $5,000.00 in his or her account. The customer places bids on five vehicles totaling $40,000. The customer then wishes to bid on a car for $20,000.00. The bid placed on this vehicle would be considered inactive since the remaining funds in the account ($1,000.00) would not be sufficient to shift the bid to “active status.” To make the bid active, the customer would need to deposit an additional $1,000.00 in her/his account.

 

  • Can I cancel a bid?

You cannot cancel a bid placed for an auction, but you can lower your maximum bid if the pre-bidding period has not closed, and your maximum bid exceeds the current high bid.

You cannot cancel a bid or lower your maximum bid at any time during the auction.

You cannot cancel a bid placed and accepted for a Buy Now auction.

  • Can I inspect vehicles prior to auction?

Yes. Customers, You, can preview selected vehicles carrying “Buy Now” option.

Other vehicles are as describe on their detailed page.

You can also have your vehicle(s) inspected by an auction professional for a fee of $149 per vehicle. We call this inspection “Green Light Inspection”.

Green Light Inspection provides an option to return the car to the auction if the repair cost exceeds $350 (varies per auction).

  • Is automatic bidding or pre-bidding available?

Our system will allow for “pre-bids” or automatic bids in which our system will automatically bid on the customer’s behalf during an auction up to the max “pre-bid” they have funded. A customer can enter a pre-bid by entering a starting bid and a maximum bid amount once a car has been assigned an automatic sale date.

An automated system manages the bids up until the pre-bidding period ends before the live auction. If bidding ends before you reach your maximum, you will be awarded the vehicle at the price where bidding stopped.

The automatic bidding system will allow customers to bid on multiple cars at once.

  • What is the total bidding amount?

Customers who deposit funds in their account will have a total “bidding amount” equal to 10 times the deposit amount. Therefore, a customer who places $1,000.00 in their account will be allowed to bid on vehicles totaling $10,000.00. The total bid amount does not need to be expended on one vehicle; rather it can be spread across multiple vehicles. For example, a customer may place bids on three cars with bids of $3,000.00, $2,000.00 and $5,000.00 ($10,000.00 total) with an initial deposit of $1,000.00.

 

  • What is a bid in active status?

Once the minimum deposit threshold is met, a bid will be considered as an “active bid.” An active bid will allow a customer to have their bid submitted to a competitive auction. Customers must have a bid in “active status” to win an auction.

  • What is a bid in inactive status?

All bids remain in inactive status until the user makes a deposit. The minimum deposit is $500 or 10% of the bid price whichever is larger. Once the minimum deposit threshold is reached, the bid will enter active status.

  • What is the best way to win an auction?

Since we solicit the highest bids to be presented at affiliated auctions, customers should submit their highest bid from the beginning. Doing so will increase the customer’s chances of acquiring the vehicle for the customer and will help mitigate further last-minute bid increases.

  • How do I search for a car available at auction?

Customers can search by year, make, model, location, VIN. Customers can view detailed photos of the vehicles available and a description, which includes mileage, title status, condition and other relevant information.

Post-Auction and Payments

  • What does a customer need to do to get the title to a vehicle?

The customer or his or her agent must provide an agency or brokerage agreement. The name on the agreement must match your account information. If a customer is picking up the vehicle on their behalf, the customer must present identification in the form of a driver’s license passport, or some other form of government issued identified. Without proper identification, a title cannot be issued. If the title is under a corporate name or another business name, please provide us a letter on business letterhead stating that the customer is the owner or an authorized employee of that company.

  • How do I pick up the car I purchased?

A customer may pick up any item in person at no penalty, or we can help you by providing shipping quotes from 3rd party shipping companies through a widget located on each vehicle’s description page. Customers are encouraged to phone in advance to make arrangements if they wish to pick up the vehicle themselves.

  • Are there storage fees if I cannot pick up my vehicle immediately?

A vehicle purchased by a customer will be stored up to four calendar days beginning from the day the vehicle was purchased at no charge. Purchases stored beyond the 4-day window will incur a $50 per day per vehicle Storage Fee. If the vehicle is not picked up within two weeks from the auction date, the BuyAuctionAuto.com or its affiliate dealer(s) has the right to consider the vehicle abandoned and to resell it.

Vehicles purchased and not removed by 4:45 p.m. on the fourth and final pick-up day will be moved to the storage area and will only be released upon storage fees that have accrued.

Contact our agent for information regarding the list of pickup locations, if any, for payment and pickup hours.

  • Do you Issue Temporary Plates?

No. We do not issue temporary plates. Customers are responsible for supplying their plates.

Normally, all cars listed on the site have plate and it will be registered before you pick up your vehicle(s) by anticipating dealer.

  • Can I pay in cash?

Only US-based customers may pay in cash. Cash payments greater than $10,000 from the same customer within a period of 12 months, must be reported to the IRS using Form 8300. Before we receive a cash payment and apply it to your account, we will need to collect your Social Security number or your tax identification number.

  • Are there late payment penalties?

If a vehicle is not paid within two days from when the auction end, it will incur $100/day late fees. If a vehicle is not paid within a week, a vehicle will be re-listed, your account will be suspended, and your deposit will be forfeited.

  • What are the payment terms?

Balances Due may be paid by Bank Wire Transfer, Verified Cashier`s Check or Money Order only. We do not accept Personal Checks

For customers outside the United States who cannot make payment on time, you may either arrange to prepay the full amount before submitting your offer, or be prepared to acquire daily late fees. A standard fee along with a documentation fee will be added to the customer’s invoice immediately after the offer is accepted.

For payment, we recommend:

Money Order
Verified Cashier’s check
Wire Transfer

The following payment methods are subject to approval:

Financing through a 3rd-party financier

Requirements apply:
Cash (limits apply)
Personal credit or debit card
Available Funds (if not applied to a purchase)
Non-Secure Funds Payment Types include Credit Card and Debit Card

  • How do I pay for an auction?

Customers may pay for an auction via Bank Wire Transfer, Cashier`s Check or Money Order only. We do not accept Personal Checks; Credit card payments may be made over the phone or to anticipated dealer(s). Note that up to 4% bank charge may be applied to the total amount if paid by credit card.

Please note PayPal and credit card payments are accepted from customers with good standing only. First-time buyers and customers not in good standing must make payments via certified funds. For all customers, PayPal transactions are limited to $2500 or 10% of the bid amount whichever is less. Multiple payment methods may be combined to meet the full purchase amount.

  • What if I fail to pay a payment as required?

The customer’s account will be suspended for non-payment if the customer fails to send the deposit by the specified deadline.

Suspended customers may be reinstated only by sending a deposit via wire transfer, which will apply to his/her next purchase.

If a customer submits an offer with and has available credit, the available credit will be used toward the bid deposit. Please note credit card payments are placed on hold and are automatically released after a 21-day period. Any credit on your account that has been billed to a credit card will only stay on your account for the 21-day period.

  • When is the balance due on a purchase?

The customer must pay the balance due in full no later than two business days from notification of the sale.  Once an offer is accepted, a Sale Confirmation Notification is sent via e-mail to the customer. At this time, the customer’s invoice on the site will reflect the purchase. The customer is then responsible for checking his updated invoices and e-mail. All accounts with payments after the specified due date will be charged a Late Fee of $100 per day per item.

  • When will I be notified of the results of the auction?

Customers with highest active bid are notified of the auction results by e-mail. Additionally, the results are posted under the customer`s “My Account” section on the site.

BuyAuctionAuto.com publishes the results of the day of auction on the same day auction ends.

  • Bidding has ended. Is my bid the highest?

If a customer has the highest active bid at the end of the auction, we will automatically notify the customer via e-mail and update the customer account on the site.  It is the customer’s responsibility to check his e-mail and bid status by selecting the `My Account` menu and then the `My Bids` option.

If the customer has not activated his/her “pending bid”, the bid will not be considered as the highest and, therefore, will not be presented at the auction by the affiliated dealers. To activate a bid the customer must submit a security deposit of $500.00 or 10% of the bid amount (whichever is greater). After the auction closes, we notify customers via email and BuyAuctionAuto.com to notify if have been outbid or if they need to activate their bid. We also recommend

Customers should regularly check their bid status in the “My Bids” page before the bidding ends.

  • Why did I receive notice after bidding ended that my bid is no longer the highest?

Even though a customer may hold the highest bid on our site, the auction may have received and accepted a higher bid from another authorized party. Our affiliated dealer will only bid up to the customer`s maximum bid amount. Therefore, it is important to submit the absolute maximum bid they are willing to pay for the vehicle.

Shipping and Delivery

 

  • How will it be mailed to me? (coming soon)

All titles are mailed to customers (USA and Canada destinations) via USPS or Fedex or UPS regular mail or express overnight. Customers may elect and pay for expedited delivery with tracking options, such as USPS Priority with Signature (2-3 days – $10) and USPS Express (1-2 days – $25), or FedEx/UPS (fees vary from $15 to $45 depending on the location. Titles will not be mailed to PO Boxes.

  • When will I receive the title?

We are unable to provide an estimated time for delivery of the title to the customer due to many factors, e.g. submission of title by auctions, the volume of title processing, delivery of processed titles, DMV delays, etc. Please plan any transfer of title and shipping of the vehicle with these potential delays in mind.

  • Can I have the title mailed to an address/name different from the address/name on my account?

Yes, but any requests for changes to the address/name must be completed in advance by either phone or email.

  • I have an agent working on my behalf can this person pick up my vehicle?

Yes. Customers who are using someone to pick up the vehicle on their behalf must notify us in advance of the pickup and provide authorization for the pickup. The broker or agent picking up the vehicle must provide identification and an executed brokerage or agency agreement showing authority to work on the customer’s behalf.

  • Do you offer delivery?

We provide shipping quotes from 3rd party shipping companies through a widget located on each vehicle’s description page.

  • When can I pick up a car I have won at auction?

Customers are advised to confirm payment before attempting to pick up a car they have won at auction.  Vehicles cannot be released until funds are confirmed and posted to your account.

User Registration

  • What are the rules regarding new customers and customers not in good standing?

First-time bidders or customers who have not completed one successful transaction must pay for a winning auction and make their security deposit with certified funds. After successfully completing their first transaction, restrictions on these accounts are removed at which time they may pay with any approved payment method.

Customers who fail to complete a transaction will be removed from good standing status. At this point if the customer’s account remains active but not in good standing, he or she must make security deposit payments and pay for purchases via certified funds.

  • Can I just buy one car?

Yes, you can. Even if you just want to buy a car for personal use.

  • I do not have a dealer license; can I bid or buy a car?

You do not need a dealer’s license. You can bid or buy, pre-bid, any vehicle via BuyAuctionAuto.com unique platform.

  • What information do I need to provide to register?

Users will need to provide the following information to register as a bidder:

      • Name
      • Valid and verifiable email address
      • Address
      • Telephone Number
      • Credit Card Information, bank account, PayPal or other financial information needed to fund the bidder account.

If you have questions or concerns about how this information will be protected or used, you may consult our Privacy Policy.

  • Do I have to pay to register?

Registration on our website is 100% free of cost. The customer simply needs to provide identifying information and provide a username and password to register in our system.

  • Do I need to register to bid?

Yes. Only registered users can place bids. It is the responsibility of bidders to make certain that their bids are in active status.