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As-Is-Final Sale
This is a category of auction wherein the vehicle up for auction is “as-is-final” – meaning that there are no implied warranties or extended warranties. The vehicle is ‘as you see it’ and is a ‘final’ sale usually combined with a “no reserve auction” (see below). Assurance Services Are our comprehensive services that protect you as either a buyer or seller in the online auction process. They include fraud protection, pre-purchase inspection (with our auction categories of pre-inspected and conditional sale), netsafety, payment protection and an escrow service. Bid Increments Are the increments by which a vehicle goes up during an auction. The following chart summarizes the bid increments based upon the value of the vehicle being auctioned off.
*Note: To buyers & sellers, items with a value of $20,000 or more must pay for and use our easy Escrow service. |
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Bid Retraction
Remember that bidding is a binding contract for you as the buyer if you bid and win an item. Generally speaking for that reason retracting a bid is simply not allowed. However there may be times when you entered the wrong bid amount or the item’s description changed significantly and you cannot get a hold of the seller. In these cases, just follow the instructions as outlined in the Bidder’s FAQ (under Retracting a Bid). Bidding Is simply the term for making an offer as a buyer in the auction process. During the period of the auction there are numerous bidders, and the highest value bidder wins the auction. We strongly recommend that you follow the Bidder’s Checklist and Tips when attempting to purchase a vehicle through Online-Auto-Auctions. We also recommend you do an independent third party inspection of every vehicle which you bid on. (See Inspection Services for details). Category Listings Are simply the various categories of vehicles for sale on this auction site. Vehicles are listed as under cars, mini-vans, SUV’s, Sports Cars, Luxury Cars, Collector Cars,Trucks and Heavy Equipment, RV’s and Buses, and/or ATV’s, Motorcycles and Snowmobiles. Within each category of vehicle there are sub-categories based upon the vehicle maker (or type) and the model of the vehicle. Checkout Lets you as the buyer pay for the deposit on a vehicle quickly and easily through the Pay Pal system or even by major credit card if the seller offers that method. Note: Vehicles with a value of over $20,000 must use Online-Auto-Auction’s Escrow service in order to complete the transaction. Collector Cars Collector Cars are simply those cars deemed by their owners as classic, have sentimental value or are worth a lot more money than the average late model car. Collector cars have their own unique category so prospective buyers can find them easier. Conditional Sale Is a category of auction where the sale of the vehicle is conditional upon the buyer completing an inspection of the vehicle and accepting the vehicle for sale. Contact Information Is the information left by the seller to prospective buyers. The contact information is listed on the bid page of the vehicle listing. Customer Support Online-Auto-Auctions.com customer support department can be reached by emailing customer support at support@online-auto-auctions.com. We will answer your inquiry within 48hrs. Dispute Resolution Online-Auto-Auctions preferred Online Dispute Resolution service is provided by SquareTrade. They have an 85% success rate through their free process even without the intervention of a mediator. Escrow Service The Escrow Service gives you as the buyer extra peace of mind by securing the transaction. When you are a buyer involving an expensive vehicle, the escrow service will hold your payment and will send it to the seller only after you have given your approval. Online-Auto-Auctions requires that the escrow service be used (a 0.5% charge) when the value of the vehicle is over $20,000.00 If you have any questions our Escrow Dept can answer them. Contact our Escrow Dept at escrow@online-auto-auctions.com. Extended Warranty Extended warranties cover vehicles after the manufacturer’s warranty has expired. Online-Auto-Auction’s extended warranty provider is #1SourceWarranty. #1SourceWarranty also offers a free Limited Warranty. Major problems can appear on even the best used vehicle. To protect you as the buyer from costly repairs just after purchase of a used vehicle, a Limited Warranty is provided free on most used cars less than 10 year old and with less than 125,000 miles. This revolutionary warranty offers sight unseen coverage on eligible vehicles for 1 month or 1,000 miles whichever comes first. As a seller your vehicle’s eligibility is determined by factoring in year, make, model, and mileage. Parts and labor repair costs are covered less a deductible. (See Details here). Flash Auction Online-Auto-Auction is the internet’s only flash auction site. Sellers have the option of choosing a flash auction for an additional fee. The vehicle listing time will flash in the last 24, and 2-hour increments and will also be listed in a special “flash auction” category listing. Flat Fee Pricing Unlike traditional auctions or other online auctions, Online-Auto-Auctions does not use complicated formulas or final value fees. Rather we use a no-nonsense listing fee that includes an automatic relisting if your vehicle does not sell in the first time period specified by you for your auction. Feedback Forum An important component of online-auto-auction process is the ability of members to leave positive or negative feedback for other members to view. Please be aware however that feedback comments cannot be erased, so any feedback you leave is permanent. Please write only fair and factual comments. Fraud Protection Program As part of our Assurance Services and our NetSafety program, every Online-Auto-Auction vehicle transaction is covered with our no fee fraud protection program. If you paid for a vehicle and never receive it or you receive it and it is not the vehicle you paid for, you may be eligible for reimbursement from $300 to $500 (less a $30 deductible) depending on the value of the vehicle. (Please see our Fraud Protection Program details). Lemon Check A Lemon Check is a title search that indicates if the vehicle has a salvage or stolen title. The service is provided by CARFAX. It is your best protection against buying a used car with costly, hidden problems. My Homepage Is a comprehensive resource for you as a member. It includes a current item summary of vehicles that you are bidding on, selling or watching. It also includes current feedback and favorites. In addition, my homepage has a buyer’s information resource. This resource includes a buyer’s guide, a bidder’s checklist, a bidder’s frequently asked questions (FAQ) and information such as what to do after the auction to complete your purchase, the escrow service and how to report trade violations or fraud. NetSafety Is part of Online-Auto-Auction’s assurance services to you as a buyer or seller. NetSafety deals with trading offenses, illegally listed items and fraud. If you pay for an item and receive it but it has been materially misrepresented then the NetSafety service will help resolve this dispute in a quick and efficient manner. [This is not the same as the Fraud Protection Program where you either did not receive the vehicle or another vehicle was sent in its place]. No Reserve Auction Is an auction where the seller puts no reserve or minimum price on the vehicle. The vehicle will simply sell to the highest bidder. Non-Flash Auction Is any auction whereby the seller chooses not to have the vehicle listing “flash” in the last 24 hours of the auction. Non-Paying Bidder Refers to a bidder who wins the auction as the highest bidder and then refuses to pay for the item. In those cases, the seller is entitled to relist the vehicle again fee free. Or the seller can contact the next highest bidder and make an offer to that bidder. (See Seller’s Offer). Opening Bid Amount Is what the seller sets as the minimum bid amount in the auction. Outbid Refers to the process where you put a proxy bid on a vehicle and a new bidder put a higher bid for the same item. You have an option to turn the outbid notification on so that you are notified if you are outbid. (See Personal Information). Proxy Bidding All bids placed on Online-Auto-Auction are proxy bidding wherein you place the maximum amount that you are willing to pay and the system automatically bids up to that amount. Pre-Inspected Sale A pre-inspected sale auction is where the seller of the vehicle has had the vehicle inspected and has posted the inspection report as an attachment to the vehicle listing. Purchase Vehicle Now Price/Purchase Vehicle Now Listings All Sellers have the option of also listing a purchase vehicle now price that they will accept in order to sell the vehicle and stop the auction process. You can also Search for these listings that will include inactive vehicles that are being listed on the site for up to 6 months after the auction period ends for buyers to contact the seller to purchase the vehicle. Registration All users should register as members of Online-Auto-Auctions. In order to sell vehicles you must also create a seller’s account. And if you bid on a vehicle over $20,000 you must be a member and use the escrow service to protect your transaction. Relisting Refers to when a vehicle does not sell in the initial auction. With Online-Auto-Auction you can relist the vehicle again fee free. If the vehicle does not sell after a second auction period, you have the option of listing the vehicle as a continuous item in the purchase it now listings. Reserve Auction Is an auction where the seller sets a minimum amount bid that a vehicle must get in order to sell. Seller’s Offer If the vehicle does not sell, the seller can make an offer to the highest bidder [See details]. Shilling Is placing a bid to artificially raise the price of a vehicle. To avoid this, no related family members, co-workers or those sharing a computer may bid on each other’s items. Trade Violations These include buying offenses (interfering with a transaction, non-payment of an item, to unwelcome bidding, invalid bid retraction bid shielding to bid shilling), selling offenses (such as attempting to circumvent the fees, non delivery of the item to transaction interception and shill bidding), to feedback offenses (i.e. extortion and solicitation), to identity offenses and miscellaneous offenses. All of these can be reported to our Investigations Unit and disciplinary action including suspension will be taken. Title Search Is the same as Lemon Check (above) – is a search that indicates if the vehicle has a salvage or stolen title. The service is provided by CARFAX. It is your best protection against buying a used car with costly, hidden problems. |
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