Auction Policies

A.D.E. Auction Policies

All transactions must clear through the office. Sales on the premises which do not clear through the office may be grounds for termination of business.

   

Dealers in attendance for the first time MUST register in the office before buying or selling.

    

ADE requires damaged or mended frames and FLOOD cars to be announced at time of sale. Unannounced frame problems and FLOOD cars are the complete responsibility of the seller at time of discovery within 30 days of sale.

  

ADE requires vehicles with prior or existing salvage titles, whether recovered thefts or rebuilt collisions vehicles to be announced at the time of sale. Any unannounced salvage units are the complete responsibility of the seller at the time of discovery within 30 days of sale.

 

Cars sold for $500 or less are sold AS IS and are not subject to arbitration.

  

Sold for $1,500 or less are sold "AUCTION GUARANTEE" only.

 

ADE requires taxis and commercial vehicles (police, municipal, etc.) to be announced at time of sale. Unannounced taxis and commercial vehicles are the responsibility of the seller at time of discovery.

  

If the AS IS light is on - that means there is an announcement about the car. Satisfy yourself about the announcement before bidding. 

 

Cars sold with a "RIDE AND DRIVE" are guaranteed by the seller to be mechanically sound within $250 of minor mechanical defects.

  

Cars sold with an "AUCTION GUARANTEE" are guaranteed by the seller to have a sound power train (BLOCK,RODS,CRANK, TRANSMISSION, REAREND). Air conditioning is not guaranteed under "AUCTION GUARANTEE".

 

Visible defects and glass will not be accepted in arbitration.

 

Dealers have one (1) hour to either pay or arbitrate vehicle purchased.

ALL complaints and rejections must be handled through arbitration within one hour.

 

Rejects without cause will not be tolerated. The decision of the auction management will be final in all arbitrations.

 

TA SALES - Dealers must announce title attached vehicles at the time of sale and

produce to the auction within 21 days of the date of sale, a reassignable title.

 

If the title is not received by the auction within 21 days, the buyer has the option of returning the vehicle.

 

BUYERS - do not sell or spend any money on TA vehicles until the title is

received. The auction will not be responsible for any expenses for returned TA vehicles.

 

ADE does not guarantee the year or condition of recreational vehicles, boats,

motorcycles, dune buggies, etc.

 

For money owed ADE (bad checks, repurchase of vehicles), both seller and purchaser gives ADE the right of offset at your bank on checks and drafts given by ADE. Buyer and seller agree to hold ADE harmless from any and all litigation that may arise from transactions at ADE.

 

TERMS OF SALE

  Seller (also Transferor) hereby warrants and guarantees to Purchaser (also Transferee) and to Auto Dealers Exchange ("AD.E.") that title to the consigned vehicle is valid and free from all defects. liens and encumbrances.

 

  Seller also warrants and guarantees that the consigned vehicle does not have a cracked block. defective transmission, or rear end, and that the consigned vehicle was not used as a taxi or commercial vehicle unless so expressly stated in the announced conditions pertaining to the consigned vehicle.

 

Seller is responsible for repurchase of any car sold with a mended or damaged frame or flood damage for a period of 30 days from date of sale.

 

AD.E. requires damage on current and one year old model vehicles to be announced.

 

Seller and Purchaser agree that AD.E. is neither responsible for odometer mileage on the consigned vehicles nor the information contained in the odometer mileage statement which Seller as Transferor is required to complete and sign and Purchaser as Transferee is· required to acknowledge.

 

  Stolen vehicles are to be settled from the purchase price less 2% per month and are the sole responsibility of the Seller.

     

   Seller responsible for repurchase of any car sold unannounced with a prior salvage title or state issued MVIN plate for a period of 90 days from date of sale.

     

  Seller and Purchaser agree to indemnify and hold AD.E. harmless from any liability, loss, costs. damage or expense. including attorneys fees which may arise either directly or indirectly from the sale and purchase of the consigned vehicle including but not limited to title services provided by A.D.E.,

defects in title, and. any matters relating to odometer mileage or odometer mileage statements.

    

A.D.E. does not guarantee the year of foreign cars, house trailers, boats or motorcycles.

 

  For valuable consideration, and to secure final payment of any indebtedness owing to A.D.E. arising out of the sale of the consigned vehicle, Purchaser hereby grants to A.D.E. a purchase money security interest in such collateral consisting of the consigned vehicle, together with all additions, accessions,

accessories. replacements and in the proceeds thereof. Purchaser hereby authorizes A.D.E. to prepare and file a financing statement without Purchaser's signature being placed thereon.

    

  Delivery of the consigned vehicle to the possession of Purchaser prior to final payment having been received by A.D.E.; and until a valid certificate of title for the consigned vehicle has been delivered to Purchaser is solely for the convenience of Purchaser, and no title is conveyed or is intended to be

conveyed to Purchaser until both these conditions have first been met.

    

  Seller and Purchaser agree to abide by registration policies and A.D.E. policies, copies of which have been furnished to Seller and Purchaser. For money owed AD.E. (bad checks, repurchase of vehicles), both seller and purchaser give A.D.E. the right of offset at your bank on checks and drafts given by A.D.E.

    

  By accepting A.D.E.'s check or draft Seller agrees to be bound by the TERMS OF SALE and acknowledges completion and execution of the required odometer mileage statement pertaining to the vehicle described herein.

    

   By signing below Purchaser agrees to be bound by the TERMS OF SALE pertaining to the vehicle described herein.