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ELITE AUTO AUCTIONS
FEES AND REFUND POLICY

Last Updated: June 15, 2026

This Fees and Refund Policy (the "Policy") is incorporated into and forms part of the EliteAutoAuctions.com Terms of Use, Customer Declaration, Purchase Agreement, Arbitration Agreement, and all related transaction documents. By accessing, bidding, purchasing, registering, or otherwise using EliteAutoAuctions.com, Customer agrees to be bound by this Policy.

1. DEPOSITS AND BIDDING REQUIREMENTS

A. Initial Deposit

To participate in auctions, Customer must submit a minimum deposit of Six Hundred Dollars ($600.00) or Ten Percent (10%) of the intended bid amount, whichever is greater ("Security Deposit").

The Security Deposit grants bidding privileges and may be applied toward the purchase price of a successful vehicle purchase.

B. Auction Bidding

Elite Auto Auctions provides access to dealer-only and wholesale vehicle auctions through independent licensed brokers and auction providers.

Certain vehicles, sellers, auctions, or inventory sources may require increased deposits, including deposits of up to One Thousand Dollars ($1,000.00), Twenty Percent (20%) of the bid amount, or such other amount as may be required.

Customer acknowledges that all bids submitted are binding.

C. Winning Bid Requirements

If Customer is the successful bidder, payment in full must be received within twenty-four (24) hours unless otherwise stated on the invoice.

Late payments may be assessed a fee of Fifty Dollars ($50.00) per day.

Failure to pay within three (3) calendar days may result in:

• Cancellation of the transaction
• Forfeiture of deposits
• Immediate account suspension or termination
• Relisting of the vehicle
• Collection activity
• Legal action or arbitration

Customer remains responsible for all losses, relist fees, storage charges, transportation expenses, attorney fees, arbitration costs, and other damages arising from default.

2. 2. REFUNDS

A. Exclusive Refund Request Procedure

All refund requests must be submitted in writing and mailed to:

Elite Auto Auctions
Corporate Headquarters
1201 North Market Street, Suite 111
Wilmington, Delaware 19801

Email communications, text messages, live chat messages, social media communications, verbal requests, or communications with individual employees, agents, contractors, brokers, or representatives shall not constitute a valid refund request.

Customer acknowledges that electronic communications may be delayed, blocked, filtered, lost, or routed improperly and therefore written mailed notice is required.

B. Refund Review Process

Upon receipt of a valid written refund request, Elite Auto Auctions shall review the request in accordance with the Terms of Use, Customer Declaration, Purchase Agreement, and applicable transaction documents.

Submission of a refund request does not guarantee approval.

Each request will be reviewed individually.

C. Refund Method

Approved refunds shall be issued by company check unless otherwise determined by Elite Auto Auctions.

Refund checks shall be mailed to the customer's address on file.

Elite Auto Auctions shall not be responsible for:

• Postal delays
• Incorrect addresses
• Mail theft
• Customer failure to deposit checks
• Banking delays

D. Stale-Dated Checks

Refund checks not deposited within thirty (30) days may be deemed stale-dated and void.

Elite Auto Auctions reserves the right to:

• Void stale checks
• Require written verification
• Charge reasonable reissuance fees
• Issue replacement checks

3. 3. DEPOSITS

A. Refundable Deposits

Deposits that have not been applied toward a successful vehicle purchase may be refundable upon proper written request.

B. Non-Refundable Deposits

Deposits become non-refundable when:

• Applied to a successful winning bid
• Customer breaches any agreement
• Customer fails to timely complete payment
• Customer refuses delivery or performance
• Customer initiates prohibited banking disputes

4. CHARGEBACKS, WIRE RECALLS, ACH REVERSALS, FRAUD CLAIMS, AND PAYMENT DISPUTES

Customer agrees that before initiating any:

• Credit card chargeback
• Debit card dispute
• ACH reversal
• Wire recall
• Stop payment order
• Banking fraud claim
• Merchant dispute
• Payment processor dispute
• Unauthorized transaction claim
• Similar payment reversal

Customer shall first comply with all refund procedures contained in this Policy.

A. Material Breach

Initiating a chargeback, wire recall, ACH reversal, stop payment, fraud claim, or payment dispute without first complying with this Policy shall constitute a material breach of the parties' agreement.

B. Damages

Customer acknowledges that payment reversals may cause substantial damages including:

• Freezing of bank accounts
• Closure of banking relationships
• Delays in title processing
• Delays in customer refunds
• Delays in vehicle transactions
• Compliance investigations
• Merchant processing restrictions
• Administrative expenses
• Legal expenses
• Collection expenses
• Loss of business opportunities

C. Suspension of Refund Review

Elite Auto Auctions may suspend review or processing of any refund request while any chargeback, wire recall, ACH dispute, stop payment, banking investigation, fraud claim, or payment dispute remains open.

D. Recovery of Damages

Customer agrees to reimburse Elite Auto Auctions for:

• Attorney fees
• Arbitration fees
• Court costs
• Collection expenses
• Merchant processing penalties
• Banking fees
• Compliance costs
• Investigation expenses
• Administrative costs
• Expert witness fees
• Other lawful damages

5. 4. PAYMENT METHODS

Initial deposits may be made by:

• Credit card
• Debit card
• Wire transfer

Final vehicle payments must be made by:

• Wire transfer
• Certified funds
• Bank check
• Other approved payment methods

6. FEES

A. Wire Fees

Outbound Wires: $35.00

Inbound Wires: $10.00

B. DMV / Title Processing Fee

$85.00

C. Acquisition Fees

$200–$600: $299

$650–$2,999: $499

$3,000–$8,999: $699

$9,000–$15,999: $799

$16,000–$49,999: $1,399

$50,000–$99,999: 5%

$100,000+: 10%

D. Relist Fees

Failure to complete a transaction may result in relist fees of between 10% and 20% of the purchase price, subject to a minimum fee of $600.

Customer remains liable for all additional losses incurred.

7. 5. AS-IS SALES

All vehicles are sold strictly "AS IS, WHERE IS, WITH ALL FAULTS."

Elite Auto Auctions makes no warranties, express or implied, including:

• Merchantability
• Fitness for a particular purpose
• Roadworthiness
• Condition
• Repairability
• Future value

Customer assumes all risks associated with the purchase.

8. 6. TITLES AND DOCUMENTS

Customer acknowledges that title documents may require thirty (30) to forty-five (45) business days or longer for processing depending upon state agencies, insurance companies, auctions, lenders, and third parties.

Elite Auto Auctions shall not be liable for delays outside its reasonable control.

9. 7. LIMITATION OF LIABILITY

To the maximum extent permitted by law, Elite Auto Auctions' total liability shall not exceed the amount of fees actually paid directly to Elite Auto Auctions for the specific transaction giving rise to the claim.

10. 8. DISPUTE RESOLUTION

Any dispute, claim, controversy, or proceeding arising from or related to this Policy, the website, any vehicle transaction, any refund request, any banking dispute, any wire transfer, or any customer relationship shall be resolved exclusively in the State of Delaware.

Customer agrees to binding arbitration in Delaware.

If court action becomes necessary, exclusive jurisdiction and venue shall lie in the state and federal courts located in Delaware.

Customer waives any right to bring or defend claims in any other state or jurisdiction.

Customer further waives any right to participate in class actions, representative actions, or jury trials.

11. CONTACT INFORMATION

Elite Auto Auctions
1201 North Market Street, Suite 111
Wilmington, Delaware 19801

Email:
[email protected]