Finalizing the Sale
Upon offer acceptance or placement of a deposit at the listed asking price, both the buyer and seller will receive each other’s contact information via email. Full payment must be received within seven (7) days of the commitment deposit being placed. Failure to do so may result in cancellation of the transaction. Extensions may be granted on a case by case basis for shipping or extenuating circumstances.
Reach out to the seller
Reach out to the seller as soon as possible to begin the process of finalizing the deal off the platform. Although the deal is handled off of the platform, we will be in contact with both the buyer and seller, in the event of any questions or concerns.
View the vehicle in person
If possible, we always highly recommend purchasing a flight to go view the vehicle in person before purchasing, or take a trailer to pick the vehicle up. Viewing the vehicle in person will allow you to inspect all aspects of the vehicle.
Shipping
If viewing the vehicle in person is not an option, discuss shipping arrangements with the seller of the vehicle to have transport pick up the vehicle and have it shipped to your location.
Payment & documentation
If there is an outstanding loan on the vehicle, the buyer and seller should first agree on how the loan will be paid off and outline the exact next steps before completing the sale.
- If the seller has the funds, they should pay off the loan as soon as possible and provide written proof from the lender confirming the balance has been satisfied.
- If the seller does not have the funds, the buyer may arrange to pay the remaining loan balance directly to the lender, with the remaining purchase amount paid to the seller.
To protect both parties, an accurate Bill of Sale should be created that clearly documents the agreed-upon terms. We recommend checking your state DMV for approved Bill of Sale templates and any additional requirements.
The vehicle and title should only be released once full payment has been received by the seller. If the transaction is completed remotely, the seller should send the signed title to the buyer using a tracked courier service after payment is confirmed.
Deal completed & seller bonus
Once the deal has been successfully completed, and the buyer has taken possession of the vehicle. We will issue a bonus to the seller of the vehicle for 25% of the Commitment Deposit we collected from the buyer, all bonuses are safely distributed through our payment processor, Stripe.
Scenarios & outcomes
- Seller backs out of the sale - If the seller backs out of the sale, the buyer will immediately receive a full refund for the Commitment Deposit. Sellers who back out of accepted offers may lose their privilege to list on our platform, with repeat violations resulting in a permanent ban.
- Buyer backs out of the sale - If the buyer backs out of the sale, the buyer will not be eligible for a refund, and the seller of the vehicle will still receive 25% of the Commitment Deposit we collect from the buyer.
- Vehicle was largely misrepresented - We work as hard as possible to minimize, if not, eliminate any chance of a scenario like this from occurring. However, in the event of a misrepresented vehicle, the buyer of the vehicle will receive a full refund for the Commitment Deposit and the seller will be banned from our platform.The moment your auction closes, Street Car Market connects the buyer and seller so you can get the deal done. Here's everything you need to know to make the transaction go smoothly, and as always, if you run into any issues, we're here to help.
1. Make Contact
- Reach out to the other party as soon as the auction ends. A quick, friendly introduction sets the tone for a smooth transaction.
- Sellers, send the buyer photos of both sides of the title and a signed bill of sale before any money changes hands. This builds trust and keeps things moving.
- Buyers, confirm you've reviewed the title and there are no liens or issues before sending payment.
2. Payment
- Buyers are expected to pay in full within one week of the auction closing.
- We recommend wire transfer as the safest and most straightforward payment method. Before scheduling the transfer, the buyer should call the seller directly to verbally confirm the wire instructions, this protects both parties from fraud.
- Other acceptable payment methods include cashier's checks or meeting at a bank to complete the transfer in person.
- Avoid payment apps, personal checks, or any method that can be reversed after the fact.
3. Loans and Liens
- If there's an outstanding loan on the vehicle, this needs to be resolved before the title can be transferred.
- If the seller has funds available, pay off the loan immediately and provide the buyer with written confirmation from the lender that it has been satisfied.
- If the seller does not have funds to cover the payoff, the buyer may pay the lender directly for the outstanding balance and pay the remainder to the seller — but both parties should agree on this arrangement in writing before proceeding.
4. Title and Documentation
- Create an accurate bill of sale that includes the purchase price, vehicle details, and signatures from both parties. Check your state DMV's website for required templates and any state-specific requirements.
- Sellers, do not release the vehicle or hand over the physical title until you have confirmed full payment in hand. No exceptions.
- If the transaction is happening remotely, mail the signed title to the buyer via a courier service with tracking once payment is confirmed.
5. Pickup and Delivery
- Coordinate pickup or shipping logistics directly with the other party after payment is confirmed.
- If the buyer is shipping the vehicle, get a quote and book in advance, shipping timelines can vary depending on distance and availability.
- The vehicle should not leave the seller's possession until payment is fully settled.
We trust our community to handle transactions professionally and in good faith, and the vast majority do. If you ever feel uncomfortable at any point in the process, stop and reach out to us before proceeding.