Red Light – AS IS: Neither the seller nor the Auction Co. makes any warranty as to the condition of the vehicle. All sales under this light are final. Inspect any or all visible defects before bidding.
DEALERS ONLY Green Light – One Hour Money Back: Seller allows the buyer the right to return the vehicle within one (1) hour of purchase for a full refund if the drive train (e.g. motor, clutch, transmission, rear end, axle, CV joints or rack on a front wheel drive car, as well as automatic load leveling suspension on Lincoln Continentals and Town Cars, is found to be in unsound condition or for any previous frame damage which is not listed on the green light agreement. This agreement does not cover any vehicles which where the odometer mileage exceeds 150,000 miles, diesel engines or any malfunctions in any other areas such as air conditioning, heating systems, power steering, computer systems, electronics, electric windows, sunroofs or stereo equipment. All arbitration is handled by the Auction Co. Auction arbitrator will drive vehicle to determine if refundable condition exists. The decision of the auction arbitrator shall be final. DEALERS ONLY MAY HAVE GREEN LIGHT DRIVES.
IMPORTANT!!! Vehicles must be paid in full at the time of sale or the vehicle reverts to “AS IS” status. For the agreement to valid, the purchase price must be $1250 or more and the estimated cost or repair must be over $300.
Yellow Light – Known Defect Listed: Indicates that the seller has listed certain known defects. Any right to return a vehicle will not apply to these items.
Orange Light – Title Coming: Assignable title does not accompany vehicle. It may require up to 12 days for buyer to receive title excluding weekends, national holidays and other days the Auction Co. is not open for business or the Department of Motor Vehicles is closed. The actual due date will be printed on the auction contract. Buyer is cautioned not to spend money on unit, not to excessively drive or damage unit and not to sell unit until the title is received. If title is not delivered to the auction by the due date as listed on the contract, it is the buyer’s option to return the vehicle or to continue to wait a reasonable period time for the title. In the event a title is unavailable within 12 days, buyer will be notified immediately, and will be required to return vehicle within forty-eight (48) hours. The buyer is required to give a twenty-four (24) hours written notice when returning the vehicle for a refund when the title due date has passed. No exemptions will be made in this matter. A staff member will fax the 24-hour written notice form to the buyer. The buyer is expected to fax the form back to the SVAA offices at (804) 796-1448. The buyer is also responsible for contacting the SVAA offices to confirm the receipt of the signed form. If confirmation is not given by a SVAA staff member, SVAA will not consider that proper notice has been provided within the 24 hour allotted time.
Should a seller be unable to provide a title within the time frame stated and the vehicle is refunded, the seller will be subject to all auction fees, including buyer’s fee and seller’s fee.
Return Policy: If a vehicle is returned because a title has not been delivered, it must be in the same condition as when purchased or no refund will be issued. Any excessive mileage, considered to be in excess of 300 miles, is subject to mileage charges of $0.25 per mile. In the event a good title cannot be produced, a refund will be given only on the purchase price plus buyer’s fee. Any fees incurred while the vehicle is under the buyer’s care, such as repair costs, oil changes, towing expenses, etc. will not be reimbursed. If the buyer elects the option of receiving thirty (30) day tags, the title due date will be extended until the expiration date of the tags. If the title has been delivered to or mailed by the auction prior to written notification that a refund is desired, buyer is not entitled to return vehicle. Auction management must be notified twenty-four (24) hours in advance prior to any refund.
Blue Light – Repossessed Vehicles: Indicates the vehicle has been repossessed by a bank or finance company.