Liquidate Bids adds warranty and returns to repossessed vehicle sales

Liquidate Bids Inc is changing how buyers can purchase bank-repossessed vehicles online by adding a six-month limited warranty and a 14-day return window. The move could reduce risk for remote buyers in a market that has long sold repossessed inventory as-is.

Why it matters: - Liquidate Bids Inc is offering post-sale protection in a segment that has traditionally transferred all condition risk to buyers at the time of sale. - The new terms could make remote bidding more practical for buyers who cannot inspect vehicles in person. - The policy gives buyers more recourse when purchasing repossessed cars, trucks, boats and recreational vehicles online.

What happened: - Liquidate Bids Inc said every purchase on its online bank-repossessed vehicle auction now includes a six-month limited warranty and a 14-day return period. - The warranty covers the first 10,000 miles from the date the buyer takes possession, whichever comes first. - The return window starts at delivery. - The company is based in Fredericksburg, Virginia.

The details: - Buyers may drive up to 1,000 miles during the 14-day evaluation period. - Approved refunds are processed within 48 to 72 hours. - Delivery charges are waived on approved returns. - Returns are declined if a vehicle has been damaged, modified from its delivered condition or pledged as collateral for a loan. - Cosmetic imperfections, normal wear-and-tear items, recommended maintenance and aftermarket accessories are excluded from the limited warranty. - Visible imperfections are disclosed in the listing where available. - Liquidate Bids sources inventory directly from banks, lenders, leasing companies and fleet operators. - The platform sells cars, trucks, boats and recreational vehicles. - Registration requires identity verification with a valid government-issued photo ID. - Payment must be made by bank wire within 24 hours of a won auction or accepted Buy Now offer. - The platform does not accept credit cards, cashier’s checks, cash or trade-ins. - Transport is arranged through licensed, insured carriers. - Vehicles are covered against damage, theft and loss in transit. - The first 1,000 miles of delivery are included. - Ownership documentation transfers after the buyer receives and accepts the vehicle.

Between the lines: - The new terms address a structural gap in online vehicle buying, where condition is usually judged from photos, reports and documents instead of a physical inspection. - Liquidate Bids is making the terms explicit rather than burying them in fine print. - That approach is designed to reduce uncertainty for individual buyers and licensed dealers buying repossessed inventory remotely.

What’s next: - Buyers using Liquidate Bids can expect the warranty, return window and delivery protections to apply to future purchases completed through the platform. - The company is positioning itself as a more buyer-friendly alternative to wholesale and salvage venues that still rely on as-is sales. - Liquidate Bids will continue to market verified listings, documented condition information and insured nationwide delivery.

The bottom line: - Liquidate Bids is trying to make repossessed vehicle auctions feel less like a gamble and more like a protected online purchase. - CEO Andrew Crider said the policy fills the gap for buyers who cannot inspect a vehicle in person: "A buyer who cannot inspect a vehicle in person should not be asked to accept it unprotected. That is the gap these terms close."