Before you can bid and buy vehicles with A Better Bid, you must have a security deposit on file with us.
Why the security deposit?
This security deposit is necessary to protect us in the event that you win a vehicle, but choose not to pay for it.
The minimum security deposit is $400. This amount will let you bid a maximum of $4,000. To raise the bidding limit, simply place a larger security deposit. The security deposit should be 10% of your maximum bid. So for example, to place a bid of $10,000, you need to have a security deposit of at least $1,000
You can pay the security deposit using either a credit or debit card or wire transfer.
Security deposits are 100% fully refundable. If you have no outstanding financial obligations with A Better Bid™ then you can request to have your security deposit refunded to you at anytime. All transactions must clear (paid in full) and you must pick up the vehicles from the auction facilities before you can submit a refund request.
Generally, A Better Bid processes refund requests within 5–7 business days and remits your refund to you in the same payment form in which you originally made the deposit. However, A Better Bid will refund deposits made by debit or credit card or PayPal that are more than 60 days old in the form of a check and mail it to you within 10 business days, for residents of the U.S. and Canada. Residents from all other countries will receive their security deposit refund by wire transfer.
You will forfeit your security deposit if you win a vehicle but fail to pay for it within 5 calendar days of the sale/award.