Rules, arbitration procedures, light system, title policies, and responsibilities for all participants.
Only licensed Motor Vehicle Dealers or their duly authorized representatives are eligible to buy vehicles at OKI Auto Auction. We are a Dealer Only auction. No retail customers are allowed on the lot or in the selling arena. Any dealer bringing a retail customer into the auction risks the loss of all Auction privileges.
All sales negotiated and/or consummated on the Auction premises must be processed through the Auction and are subject to full Auction fees.
All “Off the Block” sales are sold “As Is” and are not subject to arbitration.
ALL AUCTION MANAGEMENT DECISIONS ARE FINAL.
NO VEHICLE MAY LEAVE THE PREMISES UNLESS PAID FOR IN FULL.
We reserve the right to refuse service to anyone.
Only registered bidders or sellers in auction arena.
No one under the age of 16 permitted in auction arena.
Vehicles purchased must be removed within 10 days of purchase or a storage fee of $10 per day will be assessed.
OKI Auto Auction is not responsible for any mechanical failures while driving vehicles.
Must be paid in full by Tuesday.
ANY LATE PAYMENTS WILL BE CHARGED A $100 LATE FEE
The following vehicles cannot be offered for sale:
All “IF” sales are binding for one hour after the auction ends. Bid price approval after the hour is binding to the Buyer if the buyer has not declined the sale. It is the Buyer's responsibility to check with the Auction on the status of the “IF” bid. As long as the Seller has approved the “IF” bid within an hour or before the buyer declines the sale, the sale is valid and binding to the Buyer. All “IF Turndowns” must be processed through the arbitration department.
*** IF SALES can be arbitrated up to TWO HOURS after the approval of the IF SALE ***
The auction has not verified and makes no representations or guarantees as to the description, year, equipment, warranties, title status/accuracy or odometer on any vehicle sold or offered for sale. The auction does not guarantee or get involved in any factory or dealer warranty coverage issues on vehicles sold or offered for sale at the auction. Please refer to the auction's general policies, and invoice, for further policies.
All guarantees set forth in this Arbitration Policy are guarantees of the seller, not the Auction. The Buyer assumes the responsibility to verify all of the Seller's representations, warranties and descriptions, and to notify the Auction's Arbitration Department of any discrepancies by the end of the day of sale, or as specified in the guarantees.
** Vehicles must be arbitrated within TWO HOURS after the conclusion of the auction, unless otherwise stated within these rules **
*** IF SALES can be arbitrated up to TWO HOURS after the approval of the IF SALE ***
NO ARBITRATIONS FOR ANY REASON FOR ALL VEHICLES SOLD FOR $400 OR LESS.
TOW VEHICLES MAY NOT BE ARBITRATED FOR ANY REASON. TOWS ARE SOLD 100% AS-IS.
No Arbitration for oil or coolant leaks.
Vehicles cannot be arbitrated for discrepancies in Electronic Vehicle History reports such as Auto Check and Carfax. These reports are indicators a problem may exist, however arbitration will not be considered valid without further evidence a problem exists.
The Auction will make every effort to promptly notify the Seller on all arbitrations. The Auction's failure to notify the Seller of a valid arbitration within the time guidelines mentioned in this policy does not invalidate the arbitration.
Contested mechanical arbitration decisions will be DECIDED BY AUCTION MANAGEMENT.
ONCE A VEHICLE HAS BEEN PAID FOR AND LEAVES THE AUCTION PREMISES, THE ARBITRATION PERIOD IS OVER.
Vehicles that have any of the following defects, conditions or discrepancies that were not disclosed or announced at the time of the sale and were sold for over $200 must be reported to the Auction, within the time listed below, after the vehicle was sold at the Auction, in order to be eligible for arbitration. Vehicles must be returned to the Auction in the same or better condition than when purchased. Expense reimbursements will be at the sole discretion of the auction and will be limited to reasonable and documented expenses and transportation only. Lost profit, commissions, floor-plan expenses, vehicle upgrades, and reconditioning, etc. will not be reimbursed. Sale day is Day 1.
Any contested arbitration can be sent for third party arbitration by the buyer or seller. The vehicle in question will be sent to a New Car Dealer Service Center, of the make of the vehicle, to be checked for the problem in question. Please check with the arbitration department for costs associated with third party arbitrations.
Any vehicle over 10 years of age or over 130,000 miles will not be eligible for third party arbitration.
Guaranteed by the seller not to have any single mechanical defect (excluding radios) costing more than $500.00 to repair at wholesale repair cost.
Seller guarantees vehicle to have good head gaskets and a sound driveline, including lower Engine Block, Rods, Crank, Transmission, Transaxle, and Rear End. Clutch, CV Joints, and Hub Bearings can’t be arbitrated.
Seller guarantees nothing, except the vehicle cannot be frame damaged or flood damaged and has Proper emissions devices and air bags.
Assignable title is not available at the time of the sale. Seller must announce “Title Attached” on the block and deliver the title to the auction within 28 days of the sale. If buyer does not receive a title on or before the 28th day they may give a 24-hour notice to the auction and bring the vehicle back. Buyer shall return the vehicle at their expense. Seller will be charged the normal sale fees.
Vehicle is sold with pre-announced declarations, which are not subject to arbitration. This light can be used in conjunction with any other light.
Seller is responsible to verify all information on the inventory windshield sticker; such as year, make, model, mileage, equipment, etc…
As to any vehicle purchased at the auction, the Buyer is responsible for the following:
Changes to this policy guide can be found on this page. Last update: April 22, 2024
This document is for informational purposes. Please contact OKI Auto Auction directly with any questions.