Oakwood’s Arrow Auto Auction Policies

Payment Policy

  • Buyers must pay for all purchases on the DAY OF THE SALE. There will be a $100 late fee per deal if the units are not paid for by the end of the following business day.
  • All purchases must be paid for with cash or money order unless approved to use dealership business checks.
  • The only exception to the above will be pre-approved floor planning.
  • No checks or funds will be issued to the Seller for sold vehicles until a negotiable title has been remitted to the auction and processed correctly.
  • All parties acknowledge that there will be a $100 charge for any returned check.
  • Under NO circumstances shall any Dealer stop payment on a check.

 

If Sales

  • If the seller announces that the vehicle will be sold on an “IF” basis after the bidding concludes, the Buyer and Seller may reject the sale at any time.  It is the Buyer’s responsibility to verify any “IF” sale.  Any “IF” sale approved by the Buyer will be considered a sale at the time of approval.  The buyer should remit payment at the time the sale is recorded.  The “IF” deal will be considered a sale at the time of payment.  The bill of sale will be sent to the Consignor via Email/Fax at the time of payment from the buyer.

 

Auction Role

  • Auction makes no representations or guarantees as to the description, equipment, warranties, service policy, title status/accuracy, or odometer on any vehicle sold or offered for sale.
  • Auction is not a party to the contract of the sale. The sales contract is between the Seller and Buyer only. The Seller is required to give the Federal Odometer Mileage Statement in connection with any auction sale as required by the Motor Vehicle Information and Cost Savings Act of 1972 or any other applicable laws. Auction is not responsible for the accuracy of odometer readings, odometer statements, announcements, or disclosures.
  • All vehicles bought or sold on the premises must be processed through the Auction office. Failure to do so will result in suspension of trading privileges at Oakwood’s Arrow Auto Auction.
  • Auction assumes NO responsibility for any vehicles left on the premises after the sale, including KEYS.
  • Any vehicle sold for $3000.00 or less is Sold “AS IS”.  No Arbitration what so ever.
  • Cars 10 years or older are exempt.  All vehicles that are Exempt are   The True Mileage is not known on Exempt vehicles.
  • OAAA assumes“NO” responsibility, or guarantees the ACCURACY of the ODOMETER READING of any Vehicle.
  • In Georgia, Vehicles older than year 1985 no longer require a title.
  • Vehicles 15 years or older CAN NOT be Arbitrated or Returned for Frame Damage, Salvage History, or Odometer Discrepancy.

 

Auction VIN Policies

  • All vehicles consigned must have a public Vehicle Identification Number (VIN) plate attached to the vehicle windshield. Those vehicles having a reassigned VIN plate by the State in place of the original VIN plate must be announced or will be subject to sale cancellation or Buyer return. Auction reserves the right to refuse the sale of any vehicle in which the VIN plate appears to be altered in any way.
  • Seller guarantees VIN plates and years on any vehicles unless otherwise notified on bill of sale.

 

Auction Right of Review

  • Auction reserves the right to review any audio/video documentation to verify the accuracy of a sale as well as any announcements the vehicle may have.

 

Auction Exclusions

  • Auction is not bound by information listed in Electronic Data Vehicle Histories (EDVH), i.e. Carfax, AutoCheck, etc., and any vehicle may not be arbitrated solely on EDVH data. Auction may investigate vehicle history based on information found in EDVH for inform ation that may impact.  All vehicles registered/sold at Auction are subject to inspection, with or without prior notice, by the FBI, State Police, National Auto Theft Bureau, Local Police Authorities, any other governmental agency, or quasi-governmental agency.

 

Seller Responsibilities

  • All guaranties as stated by the Seller are those of the Seller only. The Seller understands that the RED light sale light is binding representation of the vehicle history.
  • Red Light = “As Is”
    Vehicles selling under the red light will only qualify for arbitration under the rules outlined in OAAA policies. (As-Is dollar amount, model years, and mileage is subject to local auction policy).
  • Announcements are required for any matters that relate to the safety or integrity of the vehicle including but not limited to all requirements under local, state or federal statutes or regulations. Announcements must be made both orally and disclosed on the auction bill of sale in writing under the heading of remarks.

 

Buyer Responsibilities and Liabilities

  • Prior to placing bids, the Buyer is responsible for checking the vehicle out on the lot before the sale.  Buyers should thoroughly check and, if possible, test drive every Vehicle before 3:00 pm.
  • Also, listening to oral announcements related to each vehicle, made by the Auctioneer or Selling Representative as well as other oral or written statements. If buyer wins the bid on the vehicle and signs the bill of sale. The Buyer is financially responsible for any pending sale.