If I win an auction, what happens if I do not pay for the vehicle?

If you do not tender full payment after your offer has been finalized and your vehicle has been acquired, your 10% deposit will be forfeited and your account will be closed. There is also a $100 processing fee for this transaction. In other words, by winning a vehicle and then defaulting on payment, you will be charged $600 dollars or 10% of your bid, whichever is greater. If you are placing bids on vehicles with the stock number 'i' or 'm' in front of them we are accepting $1000 deposits or 20% whichever is greater. Please do not bid on 'i' or 'm' vehicles if you do not have funds readily available or are unsure. The insurance companies tend to be very strict with these particular vehicles and do not allow us to retract our offers. WE STRONGLY SUGGEST NOT TO FUND YOUR ACCOUNT, PLACE OFFERS, AND THEN DEFAULT ON PAYMENT OF A VEHICLE. Our company does not have the liberty to place offers with the insurance companies and then back out without incurring any penalties. We have 48 hours to pay for a vehicle.