Understanding the vehicle’s origin and our role as your auction partner.
Vehicle Origin:
This vehicle is a Bank-Repossessed Asset. It was acquired by a financial institution and is being auctioned to clear their inventory. We source our vehicles exclusively from these partner banks, not from public sales.
Our Role in the Auction:
We are an Authorized Auction Broker. We do not own this vehicle. We professionally manage this auction process on behalf of the bank to ensure a fair, transparent, and direct transaction between the bank and the winning bidder.
Winning Bid is the Final Price:
Our commission is paid by the bank and is structured into the auction. This means the winning bid amount is the final amount you pay. There are no additional “buyer’s premium” fees added on top of your bid.
Guaranteed Clear Title:
This vehicle is sold with a Guaranteed Clear Title. As a mandatory condition of the sale, the partner bank is legally required to clear the title of all prior liens before it is transferred to you.
Current Location & Status:
This vehicle is held in a secure, enclosed bank warehouse and is not in public use. It remains in storage until the auction winner completes payment, at which point it is shipped directly to their location.