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  Buyer FAQ
   
 

If I'm the winning bidder and decide that I don't want the vehicle, do I still have to pay?

Yes. Depending on the tow company you may be charged a renege fee of $250 or more.

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Why do I have to pay a fee to bid?

A small fee reduces the likelihood that you will be competing against bidders that do not intend to purchase the vehicle.

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Do you charge a buyers fee?

TowLot.Com does not have any hidden fees, all you pay is your membership fee. It is your responsibility to check with the individual Tow Company to see what fees they have associated with winning one of there vehicles.

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How soon do I need to pay for my vehicles I won?

It is your responsibility to check with each Tow Company to see how soon after the auction they need your payment.

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If I buy a vehicle will I get any type of warranty?

There are no warranties for any vehicles won on TowLot.Com unless stated by Tow Company before auction has been won.

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Do I have to be a dealer to buy on TowLot.Com?

No, TowLot.Com is open to the public. Anyone can join and bid on vehicles.

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Do I have to have high speed internet?

High speed internet is not necessary. The auctions go through two stages the pre bidding and then the lightning round at the end. During the lightning round it moves very fast this is where the high speed internet will come in handy. You may get left behind if you do not have high speed internet.

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Can I look at the vehicles in person?

You will need to check with each individual Tow Company on there viewing Times and Policies.

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Do these vehicles have Titles?

You need to check with the tow company about vehicle titles, it will be posted on there tow company page what there procedures are concerning titles.

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Are there any hidden fees?

Not by TowLot.Com. As a Buyer it is your responsibility to check with each individual tow company about fees that pertain to each vehicle you bid on.

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I was bidding on a vehicle, and now it's not there, what happened?

Owners or Leinholders can pick up vehicles at any time up until the sale is over. If the vehicle has been removed from the web site, it was most likely due to this reason. Also an error in the selling process may require the vehicle to be pulled out of the sale and placed in the next sale. We apologize for this inconvenience.

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What does paperwork only mean?

The process in which most vehicles can be sold at tow lot does usually include a possesesory lein, this is often referred to as paperwork. It is paperwork that will allow you to receive the Title to the vehicle in the state you purchase it in.

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Will I be notified if I win a vehicle?

You will receive an email receipt that you should take to the tow company. You can also check on the My Winning Bids Link.

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Do I have to pay taxes?

Most tow lots do not require you to pay taxes. You should always check with each individual tow company to see what taxes are applicable. You will have to pay Local and state Taxes when registering the vehicle, just as you would when you purchase any vehicle.

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When can I pick up my vehicle?

You can check with each tow lot to see what there pick up hours are. You will also need to see when the vehicles have to be removed from each individual tow lot.

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I placed a bid in the Lightning Auction, but it didn't show up. What happened?

The system posts bids in the order received. Internet connection speeds vary greatly, and someone else's bid arrived first.

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