We have put together some of the frequently asked questions to give you more information about SP Auto and the services we offer. If you happen to have any of the questions mentioned below, just click on it and you will find the answer you need.
Will SP Auto Export Inc be purchasing and reselling the vehicle you select?
Yes. We are an export dealer. We buy the vehicle for you from the auction and resell to you at the price we paid for it plus our buying fee. By using us for your car purchase you will save money because you get access to the dealer’s auction inventory and instead paying the full price of dealer you just pay the price the dealer pays for their inventory plus our buying fee.
Why do I need security deposit?
SP Auto Export Inc. requires a security deposit for Bidding Limit and relisting fees. Before you can bid, you must set your BIDDING LIMIT with a security deposit. A security deposit is 20% of your total BIDDING Limit.
(example $200 security deposit = $1000 Bidding Limit)
Relisting Fees: SP Auto Export Inc. collects a security deposit in advanced to help cover fees that occur when a buyer wins an auction but refuses to pay for the vehicle. Refusing to purchase a vehicle that is won at auction results in the forfeiture of the security deposit.
Is the security deposit refundable?
If you have no active bids, purchased no vehicles, and have no outstanding fees, the security deposit is 100% refundable. If a “bid” has been placed or you have purchased a vehicle, the security deposit is held until the auction is over or the vehicle is paid for and picked up. The refund will be issued in the original form of payment. The release of the security deposit will reset the bidders Bidding Limit to zero. If you would like to bid again you will need to renew your deposit.
How do I pay for the vehicle when I won the auction?
When an auction is won, we will send a notification with an invoice attached, to the email address we have on file. The invoices will include the auction invoice and our fee invoice with wire transfer instructions. For car payment the funds will be wire transferred to our bank account. For the fee invoice you can make wire payment, credit card, pay pal, etc.
When does the payment due?
Purchases should be paid for within three business days, including the sale day. Payments of buyer fees, Internet Bid fees, gate fees and other fees, taxes as applicable, will be required as well. An additional fee will be charged for each duplicate salvage certificate or bill of sale requested. Pay on time to avoid a $50 late fee.
Pick up for Vehicle/order Transportation
Once all fees are paid in full, you can pick up your purchases. Virtual auction bidders have five business days, including day of sale, to pick up their purchases before storage fees begin accruing. We also can help you with Transportation Service.
No win No Pay?
That is right! If you don’t win the vehicle you don’t have to pay anything. You can request a refund for your deposit.
Wire Transfer processing fee?
Bank wire transfers sent from customers overseas may be processed by several intermediary banks. These banks may charge a processing fee of $20 or more (in addition to the wire transfer fee charged by your bank) which is then deducted from your wire transfer amount.
These processing fees are your responsibility and should be taken into consideration when sending your wire transfer. SP Auto Export Inc. must receive payment in full.
The ownership documents should arrive within 2-3 weeks from the Sale Date. Once payment is made, the ownership documents will be sent to us where they will be placed in your name, and then sent by FedEx to the mailing address we have on file. An email notification will be sent with a tracking number when the documents are sent. The customer is responsible for FedEx and international mailing fee.
Vehicles purchased in Canada
Any vehicle purchased in Canada is subject to a Canadian HST or GST tax. Vehicles purchased in the province of Ontario will be subject to a 13% HST tax. Below is the Canadian Provincial Taxes:
Canadian taxes are calculated based on the final bid price and auction fees. HST tax are charged on the transaction fees as well.
If the cars are exported out of Canada and you are registered business in your country the taxes will be refunded by Canada Revenue Agency. You will claim a tax refund for your Tax paid in Canada.
Who can purchase vehicle from us?
As we are an Export Dealer, we can not service customers with vehicle purchase resident of Ontario. All Cars purchased from Us must be exported outside of Province of Ontario. We apologize for the inconvenience.
If you are not Ontario resident or you want to Export your vehicle outside of Ontario, we will be able to help you with your car purchase.