Post-Auction, Fees & Payments
- When will I be notified of the results of the auction?
In most cases we try to “attend” the live auction with each of our clients (either by phone or sharing a screen via Skype). In such case, you will know the results of the auction right away and whether you were the highest bidder. Further, our Auction Specialist will let you know whether the auction was a pure sale or pending seller approval because the reserve was not met.
- What happens after I have won the car?
If you have won the car at auction, your offer was accepted by the seller or you used the Buy Now option to buy the car, our accounting department will send you an invoice setting out the cost of the car (including all fees associated with the purchase). Please note that this invoice will not include Shipping costs as those are separate and paid to a third party.
- Do you offer Financing for the vehicle?
Auto Auction Mall has partnered with lenders to offer financing to help you the purchase the car of your choice. You should have your financing approved before you bid on, make an offer or buy the car so that you have the funds to pay for the vehicle if you are successful in your purchase option.
We make it super-easy for you to pre-qualify for financing. You could fill out the application on our site to see if you pre-qualify. Pre-qualification does not affect your credit score and will let you know the potential loan amount that you are pre-approved for.
- How much time do I have to pay for the vehicle I won/purchased?
You will have 2 days from the day that you won/purchased the car to pay your invoice in full.
- Are there late payment fees?
If you do not pay the invoice in full within 2 days from when you won/purchased the car, there will be late fees. The late fees are generally $100 per day (but for some auctions can go as high as 2% of the vehicle sale price) for each day after the 2 days has expired. If the vehicle is not paid for within 7 days, the vehicle will be re-listed, your account will be suspended and your security deposit will be forfeited to pay for the late fees and other costs and expenses that we incur as a result of your non-payment.
Keep in mind that these are charges from the Auction Clearing House which we pass on to you.
In addition, if you are late paying for the vehicle that could mean that you will delay pick up of the car which could result in storage charges of $25 (or higher on certain auctions) per day. Again, this is a charge by the Auction Clearing House that we pass on to you.
The moral of the story is that you should pay the invoice as soon as possible after you have made the purchase of the car to avoid any additional charges.
- How do I pay for the car that I won/purchased?
Customers must pay the balance for the vehicle via Bank Wire Transfer only. We do not accept cash, checks no credit card payment for the balance of the purchase price.
- What currency do you accept for payment?
We only accept payment in United States Dollars.
- What fees does Auto Auction Mall charge?
We charge the following fees: i) a flat $299 Auto Auction Mall access fee, ii) $85 Documentation fee which covers costs related to title transfer documentation and mailing, and iii) $59 Bank fee to cover banking related fees.
You can see each of these fees in the fee calculator on the individual car listing page.
- Are there are other fees that will be charged or costs that I will incur?
In addition to the fees mentioned in the FAQ above there are fees from the auction clearing house which you must pay.
These fees include the Auction Clearing House fee, which is a sales fee that the auction house charges on each vehicle sold based on the final purchase price of the car.
Finally, transportation and shipping of the vehicle will be an added charge. The transportation fee depends on the location of the vehicle and its final destination (i.e. within the US or overseas).
- What if I fail to make a payment as required?
Suspended accounts may be reinstated upon payment of all outstanding balances.
You will also forfeit your deposit if we do not receive payment to cover our costs and expenses related to non-payment of the car.
Finally, we will send you an invoice for all charges we incurred not covered by your deposit and you will be required to pay this.
- What does a customer need to do to get the title to a vehicle?
For non-Florida residents, the original title for the vehicle will be delivered with the vehicle. Please note that for car listings that have a “title pending” status (your Auction Specialist will let you know about these in advance of the auction or buy now), the title will not be delivered with the vehicle. See below FAQ for more information on this.
The title will be in the name of Auto Auction Mall, so we will need to do a re-assignment. On the day that the vehicle is picked up, we will separately mail you the reassignment of title.
You will then take the original title, the reassignment of title and your invoice (which is a bill of sale) to your local DMV office and complete the title transfer and registration services.
- The DMV is asking for a Bill of Sale, do I have that?
The invoice that you receive from Auto Auction Mall for the purchase of your vehicle will act as the Bill of Sale that the DMV is requesting.
- How long does it take to get the ownership documents?
If title is not pending and you are not Florida resident, the original title will arrive with the vehicle and reassignment of title will be separately shipped out the same day so should be with you in week or so (subject to delays).
- What if I am a Florida resident, how do I get the title and how long will it take?
Since Auto Auction Mall is a registered dealer in the State of Florida, we provide the full DMV service for title transfer. In addition, if the car has clear or clean title and the client requests, we can also complete the vehicle registration and provide new or transfer plates.
For the above work, you will need to pay the DMV fees as required by the State of Florida plus $40 for courier fees.
The above process usually takes 7 business days to complete.
- What does Title Pending mean?
For some vehicle auctions the Auction Clearing House has not received the title from the seller at the time the car is put on auction. However, the Auction Clearing House states that it should be in possession of title within 30 days from the date of the sale and it will then send the title to us. If you purchase a vehicle with a “title pending” status, we will courier the original title to you as soon as we receive from the Auction Clearing House.
When you schedule your auction, make an offer or decide to use the Buy Now option, your Auction Specialist will let you know if the vehicle you are interested in has a Title Pending designation.
- How long before I get the original title in Title Pending circumstances?
As mentioned in the previous FAQ, it will take approximately 30 days for us to receive the title from the Auction Clearing House. At that point, we will re-assign this title to you and mail the title certificate. It doesn’t always take 30-days for this process, but that is the timeline provided by the Auction Clearing House.
- Why did I receive a different title than the one that was listed on your site?
You may receive an equivalent title type to the one displayed on the car listing page due to local law requirements by the State.
Differences between title types and designations are usually minor, for example, Arizona Salvage Title certificate may be displayed in the online description on the car listing page, but you receive Nevada Salvage Title certificate.
Local/Regional laws and regulations sometimes require the seller to transfer the title to the State in question. Differences in title Type/Designation bear no change in equivalence.
Auto Auction Mall does not warrant or guarantee the title status nor the title type or designation that is listed on our site.
- Do you Issue Temporary Plates?
No. We do not issue temporary plates. Customers are responsible for supplying their own plates.