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Purchasing A Salvage Truck

February 17, 2019


Purchasing Tips

  1. Always inspect the vehicles BEFORE bidding. Remember the Vehicle Information provided is for convenience only. Buyers shall not rely on the Vehicle Information shown in deciding whether or how much to bid on a vehicle offered for sale. It is the sole responsibility of the Buyer to ascertain, confirm research, inspect, and/or investigate vehicles and any and all Vehicle Information prior to bidding. ALL VEHICLES ARE SOLD AS "AS IS - WHERE IS" ALL OFFERS ARE BINDING AND ALL SALES ARE FINAL.
  2. When deciding how much to offer, take in to consideration: 1- EZautoauction.com and broker fees, (please see the "Fees" table). 2- the Actual Cash Value (ACV) or market value of the vehicle, (you can check sites like www.kbb.com or www.nada.com for information), 3- evaluate the damage to determine the extent of the repairs necessary (remember the Repair Cost is an estimate, it is presented for informational purposes only), 4- the shipping cost (go to the "Transporters" page to get an estimate before bidding), and based on this information submit your maximum offer amount, no matter what the current bid is.
  3. Make realistic offers and never bid the minimum amount possible or you will have very slim chances of winning. For instance: if the ACV of a 2018 BMW 325i is $42000 do not make an offer for $3000, a vehicle is worth more sold for parts so if you only offer 10% or 20% of the ACV, unless the vehicle has serious damage, your chances of winning will be very low. EZautoauction.com is a very competitive auction with thousands of buyers from all over the world so make sure you make a realistic offer or you will waste your time and ours.
  4. Always make your offer for the maximum amount you want us to bid on your behalf, no matter what the current bid is. Remember these vehicles are auctioned by EZautoauction.com not by us, so more important than having the highest offer on our website, is that your offer is high enough to win the virtual auction at EZautoauction.com. If your maximum offer is $4500 and the vehicle sells for $4550, and you were willing to buy it for $4600 then you should have made your maximum offer for $4600 or more. Remember the sales price will be what we purchase the vehicle for, which could be less than your maximum offer.
  5. Bid on vehicles located at EZautoauction.com yards near to your location, and go to our Transporters page to get transportation estimates before bidding. There are many buyers that end up paying a lot in storage fees because they take too long to pick up the vehicle. Besides, we will not send you the vehicle's documents until the vehicle is out of the yard and all fees are paid. Remember you cannot drive the vehicle until it is properly registered and insured. All vehicles cannot be driven off the EZautoauction.com yard. They have to be hauled or towed.
  6. We suggest that you pay the security deposit in advance, to avoid missing the virtual auction. To increase the security deposit on fund, go to the Security Deposit tab in My Account. Otherwise you will have to pay it after the Offers Acceptance Period is over and before EZautoauction.com's Virtual Auction starts. If you win, the security deposit will go towards the payment of the vehicle; if you lose you can request a security deposit refund by replying to the "Would You Like a Security Deposit Refund?" email or by sending us an email.
    *Note: there is a difference between paying and increasing your security deposit. You can make an increase to your account at any time before 11am (local time of the yard where the auction is being held) the day of the auction. After 11 am, the Offers Acceptance Period closes and you will have to be alert to the emails from the system requesting that you pay your security deposit. You will not be able to make an increase to your deposit during that period unless you pay the deposit first. If your security deposit payment is not received before noon the day of the auction (local time of the yard where the auction is being held); we will not pursue the acquisition of the vehicle in your behalf.
  7. Make sure you have the full payment amount before bidding. Do not rely on bank loans, credit cards, etc. You will have to pay the full amount by wire transfer or with a deposit to our Bank of America account within 2 business days from the purchase date to avoid a $50 late payment fee. If a vehicle is not paid within 7 calendar days from the purchase, you will lose the vehicle, the security deposit and pay a penalty broker fee.
  8. If you are an international buyer, please DO NOT make offers on vehicles with an ownership document different than a "Title" or "Certificate". So if the vehicle has a "Salvage Title" or a "Salvage Certificate", etc., you shouldn't have any problem to get the vehicle out of the US; but if the document of the vehicle has the words: Bill of Sale, Duplicate, Junk Receipt or any other than "Title" or "Certificate", like for instance "Application for Duplicate Title", please do not buy it, you might not be able to get the vehicle out of the US.


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