Once the auction ends with a winner or the buyer elects to buy now, we promptly connect the buyer and seller to finalize their sale. If the listing is for a vehicle (and you do not do many vehicle transactions or just want extra protection and convenience) we recommend buyers and sellers use KeySavvy.

KeySavvy is a secure and easy way to pay and get paid when buying or selling a car.  KeySavvy will handle everything from payment processing to documentation and title transfer for a nominal fee.

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Our marketplace has PayPal built into it for our buyers and sellers to use as a payment method (sellers have to accept it as a payment option on their listing).  PayPal offers buyers protection -- terms and limitations apply.
 

Vehicle Transactions

Here are some tips for successful post-sale vehicle transactions – and remember, we’re here to assist if needed!

1. Make Contact

As soon as the auction concludes or a Buy Now is made, reach out to the other party to introduce yourself. Stay polite and positive to ensure a smooth process.

• Sellers should provide proof of ownership to the buyer, usually in the form of a photocopy or picture of the title and registration.

2. Vehicle Specific Payment & Documentation

• Buyers are expected to pay for the winning listing in full within a week of buying.
• If there is an outstanding loan on the vehicle, the buyer and seller should discuss how it will be paid off and the specific next steps to complete the transaction safely.
  • If the seller can pay off the loan, they should do so promptly and provide proof from the lender.
  • If the seller cannot pay off the loan, the buyer may pay the outstanding amount directly to the lender and then pay the remainder to the seller.
• Create an accurate Bill of Sale, including the transaction terms, to be signed by both parties. Check your state DMV for Bill of Sale templates and requirements.
• For payment, we recommend wire transfers, cashier’s checks, PayPal or KeySavvy. Other options include meeting at a bank to draft a cashier's check (local), withdrawing funds directly, or completing an electronic money transfer.
• Arrange for the vehicle's pickup and finalize the transaction. If the buyer plans to ship the vehicle leverage one of Hot Rods Auction's Shipping Partners.
• The vehicle and title should only be released once the seller has received full payment.
• If the transaction is remote, the seller should mail the signed-over title to the buyer via courier service with a tracking number once payment is received.