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Last Updated: January 1, 2024
Welcome to AutoBid. These Terms of Service govern your use of our car auction platform and services. By accessing or using AutoBid, you agree to be bound by these terms.
You must be at least 18 years old and have the legal capacity to enter into binding contracts. By registering, you represent that you meet these requirements.
You must provide accurate and complete information during registration. You are responsible for maintaining the confidentiality of your account credentials.
We may require additional verification for certain activities, including identity verification, payment method validation, and vehicle ownership confirmation.
All bids are legally binding offers to purchase. Once placed, a bid cannot be retracted except under exceptional circumstances as determined by AutoBid.
Bids must meet or exceed the current bid by the minimum increment specified for each auction. Our system will automatically advance bids up to your maximum bid amount.
The highest bidder at auction close is obligated to complete the purchase. Failure to complete the transaction may result in account suspension and legal action.
A 5% buyer's premium (minimum $500) will be added to the final hammer price. This fee is in addition to the winning bid amount.
Sellers must provide complete and accurate vehicle information, including condition, history, and any known defects. Misrepresentation may result in account termination.
Sellers must have clear title and legal authority to sell the vehicle. All liens must be disclosed and resolved before the auction closes.
Sellers may set reserve prices. If the reserve is not met, the seller is not obligated to sell. Reserve prices are confidential and binding.
A 5% commission is charged on the final sale price. This fee is deducted from the sale proceeds upon successful transaction completion.
Winning bidders must complete payment within 48 hours of auction close. Payment methods include wire transfer, certified check, or credit card.
Buyers are responsible for all applicable sales taxes, registration fees, and other government charges associated with vehicle purchase.
Sellers receive payment within 3-5 business days after buyer takes possession and confirms vehicle condition.
All vehicles are sold "as-is" unless otherwise specified. AutoBid provides condition reports but makes no warranties about vehicle condition.
Buyers may inspect vehicles before bidding. Post-sale inspections must be completed within the specified inspection period.
Significant undisclosed issues discovered during inspection may allow for transaction cancellation at AutoBid's discretion.
Users are prohibited from:
5% of final hammer price (minimum $500)
5% of final sale price
No upfront listing fees - commission only upon successful sale
Standard credit card processing fees apply
AutoBid's liability is limited to the amount of fees paid by the user in the six months preceding the claim. We are not liable for:
Users must attempt to resolve disputes directly before involving AutoBid.
Disputes will be resolved through binding arbitration in accordance with American Arbitration Association rules.
Users waive the right to participate in class actions or representative proceedings.
We may suspend or terminate accounts for:
We may modify these terms at any time. Continued use of our platform constitutes acceptance of modified terms. Material changes will be communicated to users.
These terms are governed by the laws of the State of Michigan. Any legal actions must be brought in courts located in Detroit, Michigan.
For questions about these terms, contact us: