- All dealers must be licensed within their state and registered at LAFCAA before doing business.
- LAFCAA is a Dealer Only Sale. No retail customers. Suspension of auction privileges could result from disregard of this policy.
- All dealers must have bid number on sale day before proceeding to auction lanes.
- All purchases must be settled on sale day by cash, check or floor plan. Payments not received within 24 hours will be charged a late fee. There will be a $100.00 fee for any returned check or draft.
- If you are approved to buy under any auction finance program, you must inform the block clerk when signing up for vehicle.
- Sellers have 30 days to produce title. Buyers are cautioned not to sell, repair, or recondition a vehicle until the title is received. No expenses or profits will be reimbursed on returned vehicles. Buyers returning a vehicle must inform the auction a day in advance of returning the vehicle. If the title is received by the end of the next business day, the buyer must keep the vehicle. Buyers who put more than 500 miles on a returned vehicle will be charged 35 cents per additional mile. Sellers are responsible for transportation costs TO AND FROM dealers location on returned vehicles.
- All "CALL or IF" bids are binding until 4:00 pm sale day. It is the buyers responsibility to verify if vehicle is sold or a no sale.
- Vehicles will be sold within $100.00 of floor.
- No vehicle will be accepted for sale without VIN attached per Federal and State Regulations.
- Vehicles sold for under $2500 are sold red light, as is. No arbitrations, no exceptions.
- "Over the Counter" Sales are sold AS IS and are only subject to arbitration for title discrepancies. All OTC sales must have management approval.
- Information written on windshield is a courtesy only. Please verify all information regarding VIN, year, make, model, and mileage before removing vehicle from property. Inaccurate information, including emblems or stickers, must be brought to the attention of management on sale day.
- You may test drive a dealer vehicle until 8:00am sale day on auction premises. Fleet vehicles may NOT be test driven. The speed limit is 11mph. Please park vehicles where you found them.
- All vehicles leaving auction property are subject to search.
- All “D&D” sales are sold AS IS and are only subject to arbitration for title discrepancies.
When a buyer wants to return a vehicle for late title, he must give the auction 24 hour notice. 24 hour notice means until 5 pm the following business day. The 30th day is always a Thursday.
If the buyer is within 100 miles, the vehicle must be returned within 24 hours. If the buyer is farther than 100 miles, the vehicle should be returned within 5 working days. The following are two examples:
1) Buyer wants to return a vehicle on the thirtieth day for the late title. He may inform us after 5 pm on that day, which would be considered the first thing the next day, Friday. The 24 hour rule would give the seller until 5 pm Monday to get a title to us. If the title is not received by 5 pm Monday, the buyer must return the vehicle by 5 pm Tuesday; technically it should be on our property by the start of business on Wednesday. If he is over 100 miles, it would be the next Wednesday.
2) Buyer wants to return a vehicle for no title after 35 days. He calls us on Tuesday at 3 pm. The seller has until 5 pm Wednesday to get the title to us. If the title isn’t here by 5 pm Wednesday, the vehicle should be in our possession by the start of business Friday. If the buyer is more than 100 miles away, it needs to be in our possession by the start of business on the next Friday.
ARBITRATION DECISIONS MADE BY ARBITRATION STAFF/MANAGEMENT ARE FINAL!
LAFCAA RESERVES THE RIGHT TO REFUSE SERVICE TO ANYONE.
Revised: 02/03/2010