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| Buyers
Rules and Regulations |
1.
Bidding on vehicles implies an understanding of legal obligations and that
you have read and understand all stated rules and regulations. If you have
any questions, please ask a staff member before bidding.
2. ALL SALES ARE FINAL
3. 25% Deposit is
required on all purchases at the time of the sale. The 25% deposit
must be made by cash, check, debit or major credit card. Vehicles
purchased on Wednesday must be paid for in full by Friday at 12P.M.
All vehicles must be paid for in full prior to delivery. By bidding on any
vehicles and signing the auction contract, you are legally obligated to
and bound by the contract and all rules and regulations of the Auction
Company. If you fail to pay in full for any vehicle, you subject
yourself to legal action to recover the cost of the vehicle and all legal
fees incurred by the Auction Company.
4. All deposits are non-refundable. Failure to settle in full within Auction
time limit will result in forfeiture of deposit.
5. Auction Company does not issue temporary tags or liability insurance.
6. Light System Guidelines:
Red Light = AS-IS: This vehicles
is being sold with NO WARRANTY whatsoever.
Buyer is responsible for determining any and all defects before bidding.
All AS-IS sales are final.
Blue Light = REPOSSESSION: This vehicle
has been repossessed by a finance company or bank.
Green Light = 30 min drivetrain guarantee:
Seller allows buyer 30 minutes from the end of auction to inspect the condition
of drivetrain in the vehicle, and gives the buyer the right to return the
vehicle if drivetrain has any unsound condition. Drivetrain: When registering
a vehicle for auction you must decide if you want to sell the vehicle AS-IS
or with a Drivetrain check. The Drivetrain check will be announced when
vehicle is on the auction block. Cars sold under the drivetrain check light
must have under 100,000 miles. The drivetrain check is limited to the motor,
transmission and axle. The drivetrain check does not include air conditioning,
steering, or heating systems, nor does it include computer systems, any
electronics, windows, sunroofs, or stereo equipment. If an unsound condition
does exist then the auction company arbitrator will test drive the vehicle
to determine if condition does exist. If condition does exist repair must
exceed $200 for a refund to occur. Auction Arbitrator will determine if
condition entitles buyer to a refund. Auction Arbitrator's decision will
be final. NOTE: All vehicles sold under Drivetrain check condition must
be paid for in full at the time of sale or the vehicle returns to AS-IS
status.
Yellow Light = Title Attached: The title
for this vehicle is not present at the time of sale, auction guarantees
a title within 15 business days. If at the end of 15 business days no title
has been produced customer will be refunded the purchase price.
7. Management of Auction Company has right to accept and reject any and
all bids.
8. Auction Company reserves the right to settle all disputes involving bids
on any sale.
9. You must be 18 years of age to purchase any vehicles at this auction.
10. No single contract is considered settled until all contracts entered
in, on this sale, and any previous sales have been settled in full.
|
| Buyers
Fees |
| Auction
Price |
Public
Fee |
Dealer
Fee |
| $0
- $749. |
$50.00 |
$40.00 |
| $750.
- $1499. |
$75.00 |
$60.00 |
| $1500.
- $2999. |
$100.00 |
$75.00 |
| $3000.
- $3999. |
$150.00 |
$100.00 |
| $4000.+
|
$175.00 |
$150.00 |
|
"Title
Attached": means title to vehicle being sold is not here at this time.
Spend no money on a title attached until a clean title is in your possession.
The car may have to be given back to the seller if they cannot produce a
good title. The auction will not be responsible for any money you spend
on a title attached vehicle that has to be returned. If title cannot be
furnished to buyer within 15 business days after sale, Auction Company will
at customer's request, refund purchase price and buyer's fee.
Storage: All customers are requested to move vehicles from the lot
by friday afternoon at 5pm. Any vehicles not currently being run through the auction
will be charged a storage fee of $5.00 a day and may be towed at owners
expense. Central Virginia Auto Auction accepts no responsibility for theft
or damage to any property on our lot.
Odometer Policy: Check at the auction stand for signed odometer statements.
Do not rely on odometer readings as they may read more or less than actual
mileage. Central Virginia Auto Auction assumes no responsibility nor guarantees
accuracy of odometer readings. |
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| Sellers
Rules and Regulations |
| IMPORTANT:
READ THESE RULES BEFORE PARTICIPATING! |
| 1.
Registration Fees |
| Dealers |
Public |
| $35. per vehicle |
$45. per vehicle |
| $30. each
additional week |
$35. each
additional week |
|
Run
numbers can be obtained up through the day of the auction. You should call
as early as possible to insure a good number. If run number is cancelled
after Wednesday 3:00 P.M. you will be charged a registration fee. Registration
fees are due in advance.
Drivetrain: When registering a vehicle for auction you must decide
if you want to sell the vehicle AS-IS or with a Drivetrain check. The Drivetrain
check costs an additional $15 per vehicle. By offering a drivetrain check
seller allows the buyer to inspect the vehicle and return it within 30 minutes
of the end of the auction if an unsound condition exists in the drivetrain.
The Drivetrain check will be announced when vehicle is on the auction block.
Cars sold under the drivetrain check light must have under 100,000 miles.
The drive train check is limited to the motor, transmission and axle. The
drive train check does not include air conditioning, steering, or heating
systems, nor does it include computer systems, any electronics, windows,
sunroofs, or stereo equipment. If an unsound condition does exist then the
auction company arbitrator will test drive the vehicle to determine if condition
does exist. If condition does exist repair must exceed $200 for a refund
to occur. Auction Arbitrator will determine if condition entitles buyer
to a refund. Auction Arbitrator's decision will be final.
All vehicles sold under Drivetrain check condition must be paid for in full
at the time of sale or the vehicle returns to "AS-IS" status.
2. Commission Rates: Public Rates: 10% of sale price up to $1000
PLUS 4% OF ANY AMOUNT OVER $1000
Dealer Rates: 10% of sale price up to $1000 MAXIMUM of $100 commission.
All commissions will deducted from auction checks.
3. Registration Deadline: In order to sell a vehicle, the vehicle
must be at the auction with the keys, title, and signed odometer statement,
no later than 3:00 PM ON WEDNESDAY.
4. Checks for vehicles sold on Wednesday will be issued after 2:00
PM Friday. NOTE: Any fees due will be deducted from proceeds of any sold
vehicles.
5. All vehicles sold "AS-IS" have no implied or stated warranty as
to condition. The auction is the broker. Any dispute regarding year, make,
model, condition or odometer reading will be resolved between buyer and
seller. In the event CVAA has to mediate any dispute, the management decision
is final.
6. The auction will NOT accept for sale any vehicle with a salvage
title, or the like.
7. Year of cars, etc.: The auction does not guarantee the year of
any cars, trucks, housetrailers, recreational vehicles, antiques, motorcycles,
reconstructed vehicles, or any other item sold.
8. All vehicles sold through Central Virginia Auto Auction must
be inspected or rejected by Selling Dealer. Finance Companies and individuals
are not required to inspect or reject their vehicles.
Failure to comply with auction buyer or seller rules may result in
expulsion from any sales conducted by Central Virginia Auto Auction. The
decision of the auction management shall be final in all manners of interpretation
of auction policy. |
| IMPORTANT
NOTICE: The Auction Company accepts no responsibility for theft, liability
or damage to property on these premises. |
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