Policies & Procedures
Policies and Procedures
LAFCAA RESERVES THE RIGHT TO REFUSE SERVICE TO ANYONE
- All dealers must be licensed within their state and registered at LAFCAA before doing business.
- LAFCAA is a Dealer Only Sale. No retail customers. Suspension of auction privileges could result from disregard of this policy.
- All dealers must have bid number on sale day before proceeding to auction lanes.
- All purchases must be settled on sale day by cash, check or floor plan. Payments not received within 24 hours will be charged a late fee of $50 per day, per transaction. There will be a $100.00 fee for any returned check.
- If you are approved to buy under any auction finance program, you must inform the block clerk or the front office of your payment choice.
- Sellers have 30 days to produce title. Buyers are cautioned not to sell, repair, or recondition vehicle until the title is received. No expenses or profits will be reimbursed on returned vehicles. Buyers returning a vehicle must inform the auction a day in advance of returning the vehicle. If the title is received by the end of the next business day, the buyer must keep the vehicle. Buyers who put more than 500 miles on a returned vehicle will be charged 35 cents per additional mile. Sellers are responsible for transportation costs TO AND FROM dealers’ location on returned vehicles.
- All “CALL or IF” bids are binding until 4:00pm sale day. It is the buyer’s responsibility to verify if vehicle is sold or a no sale. Please provide a working cell number so we can reach you.
- Vehicles will be sold within $100.00 of floor.
- No vehicle will be accepted for sale without VIN attached per Federal and State Regulations.
- Vehicles sold for under $3,000.00 are sold red light, as is. A sale under $1500 is not eligible for arbitration.
- Any vehicle with 175,000 miles and over will be sold “AS-IS”
- “Over the Counter” sales are sold AS IS and are only subject to arbitration for title discrepancies. All OTC sales must have management approval.
- Information written on windshield is a courtesy only. Please verify all information regarding VIN, year, make, model, and mileage before removing vehicle from property. Inaccurate information, including emblems or stickers, must be brought to the attention of management on sale day.
- You may test drive a dealer vehicle until 8:30am sale day on auction premises. Fleet vehicles may NOT be test driven. The speed limit is 11mph. Please park vehicles where you found them.
- All vehicles leaving auction property are subject to search.
- All inop sales (Lane 6D) are sold AS IS and are only subject to arbitration for title discrepancies.
- Auction DOES NOT GUARANTEE mileage on exempt vehicles.
LAFCAA follows the NAAA Arbitration Policy. A full copy is available on request or can be found on the NAAA website at www.naaa.com. Green Light vehicles subject to arbitration must be arbitrated by 5pm sale day.
ARBITRATION DECISIONS MADE BY ARBITRATION STAFF/MANAGEMENT ARE FINAL!
Title Arbitration Policy
When a buyer wants to return a vehicle for a late title, he must give the auction notice. The Title Arbitration policy states the buyer has the right to return the vehicle if the title has not been received by the 30th day since purchase. The 30th day is always a Thursday providing the vehicle was purchased on auction day. If purchased off block, time frame is adjusted accordingly. If the buyer is located within 100 miles of auction, the vehicle must be returned within 24 hours. If the buyer is located more than 100 miles from auction, the vehicle must be returned within 5 working days. If the buyer does not return the vehicle within the specified time, another 30 days will be given to the seller to produce the title. The following are two examples:
Buyer wants to return a vehicle on the thirtieth day for late title. Buyer may inform auction personnel by 5pm that Thursday. Title Arbitration policy gives the seller until 1pm Friday to get a title to auction. If the title is not received by 1pm Friday, the buyer must return the vehicle by 5pm Monday. If buyer location is over 100 miles from the auction, the vehicle must be on auction property by the following Monday. If the buyer does not deliver the vehicle to the auction by 5pm Monday, 30 more days will be granted to the seller to produce the title.
Buyer wants to return a vehicle for no title after 35 days. Buyer calls auction Tuesday at 3pm. The seller has until 5pm Wednesday to get the title to the auction. If the title isn’t at the auction by 5pm Wednesday, the vehicle must be at auction by the start of business Friday. If the buyer is located more than 100 miles from auction, the vehicle must be at auction by the start of business the following Friday.
Louisiana’s 1st Choice Online Sale Policies
- You must be a licensed auto dealer registered to conduct business at Louisiana’s 1st Choice Auto Auction to participate in our Auction Edge Simulcast sales.
- All Internet purchases made by off-site customers must be paid for no later than 12pm on Wednesday via wire transfer, expedited check (fax your check to 985-345-5735, take a photo and text it to Katie Alombro at 985-415-8002, or email a photo of it to [email protected]), or floor plan (see #4 and #5 below). For new customers a bank statement verifying funds must be faxed prior to sale time. Payments received after Wednesday at 12pm will incur a $50 late fee per day, per purchase.
- Existing check status customers doing business with the auction must fax, email or overnight a check for the full amount no later than the next business day, otherwise a $100 late fee applies for each purchase.
- There will be a $50 Internet Convenience fee charged to the buyer for vehicles selling for $10,000 and below. There will be a $75 Internet Convenience fee charged to the buyer for vehicles selling for over $10,000. All other buyers’ fees will be consistent with those purchased in lane. There is a $30 Online Seller fee charged to the consignor on each vehicle sold online. All other sellers’ fees will be consistent with those purchased in lane. Post-Sale Inspections are available for purchase and are required on all online purchases. The Post-Sale Inspection does not inspect for cosmetic damage to the vehicle. See Dealer packet for list of PSI’s.
- Arbitration policy for 1st Choice Online Internet sale follows National Auto Auction Association Arbitration Policy.
- Only green light vehicles under 175,000 miles are eligible for Post-Sale Inspection. Vehicles over 175,000 are red light, AS IS. Call us at 985-345-3302 to let us know which BPP you would like for your simulcast purchases.
- All RED LIGHT vehicles are AS IS. Cars sold for under $1500 are not eligible for arbitration.
- Floor bidder will have preference in the case of a tie. Proxy bids are considered opening bids and real money.
- “If” Sales are binding to the buyer until 4pm Sale day. If the auction cannot reach the buyer, the approved “If” sale stands. In the event the “If” sale is declined and a counter offer is given by the seller, the auction will contact buyer with said counter offer. If an auction occurs on a holiday in which banks, lease, and finance companies are closed, all “If” sales will be binding through close of business the following day. Buyers please make sure we have a good contact number for you to expedite the process.
- Condition Reports are provided as a convenience and in many cases, a product of one individual’s opinion. The Auction will not be responsible for minor errors. The decisions of the Auction will be final in all disputes.
- Making transportation arrangements is the responsibility of the buyer.