AutoBidMaster requires a security deposit for two reasons.
Buyer Power: Before you can bid, you must set your Buyer Power with a security deposit. A security deposit is 10% of your total Buyer Power.
(example $400 security deposit = $4,000 Buyer Power)
Relisting Fees: AutoBidMaster 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.
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Articles in this section
- How do I release the hold on my credit card?
- Is my security deposit refundable?
- Can I use my security deposit to pay for my vehicle?
- I was told my refund had been processed but I haven't received it yet?
- Why do I need a security deposit?
- How do I pay my security deposit?
- How do I increase my security deposit?
- I received an e-mail saying that my security deposit has expired. Why?