Frequently Asked Question
1. How does Selectautomart.com work?
Registration> To regiter , need to fill the registration form and upload your KYC documents, like copy of pan card, adhar car, cancel cheque, one latest photograph, their is one time registration charges ( Rs.8850/- ) non refundable. yearly bassis , Registration> To regiter , need to fill the registration form and upload your KYC documents, like copy of pan card, adhar car, cancel cheque, one latest photograph, their is one time registration charges ( Rs.8850/-) non refundable.
Auction process is very simple. At present selectautomart.com offers two types of auctions.
A> Closed Auction : The insurance company does not disclose their rates. The buyer has to bid their maximum rate before the specified deadline on the website. Their rates will not be disclosed to the other buyers. The buyer with the highest ACTIVE bid is notified shortly after the deadline of being the highest . The buyer needs to deposit minimum amount Rs.10000/- as EMD to place the bid .
B> Open Auction : The basic rate of the auction item is displayed on the website. The buyer has to place a bid on a vehicle before the specified deadline.
The buyer has to deposit Rs.10000/- or 10% of the bidding amount (which ever is higher).
The buyer with the highest ACTIVE bid is notified shortly after the deadline of being the highest. Next our affiliated dealers, on customer`s behalf, present your bid to the Insurance Auction (closed to the general public). If they win the vehicle at the Insurance Auction, our affiliated dealer acquires the vehicle for the customer, who is required to pay the balance within 2 business days.
If the affiliated dealer does not acquire the item, the deposit is refunded to the customer upon request. Alternatively, the deposit can be applied towards an offer on another vehicle.
2. Do I have to agree to the terms of the Deposit Agreement and Purchase order agreement prior to submitting my offer ?
No, you do not. But if you do not agree to the terms of the agreement, you CAN NOT place offers on our site. Please remember that BY CLICKING THE SUBMIT BUTTON YOU AGREE TO THE TERMS OF THE AGREEMENTS (PURCHASE ORDER AGREEMENT and DEPOSIT AGREEMENT) Note that you may view agreements under terms and conditions on the website or request copies of these documents at any time by emailing your request to our customer service department info@selectautomart.com
3. What does the bid amount include ?
The bid amount on Selectautomart.com covers the price of the vehicle at the auction. Auction fees ( if any ), selectautomart fee, documentation fees, loading fees, transportation costs, etc are not included in the bid amount, and are added on top of it. These additional fees vary from item to item, depending on the price of the vehicle, auction type and location. (Please note Selectautomart.com does charge a RS. 5000/- or 3% of the bidding amount which ever is higher , which is not included in the offer price.)
4. Can you notify me when a particular item becomes available?
Unfortunately, with such a dynamic and continually evolving inventory of vehicles, we are unable to alert customers of a specifically requested vehicle's availability. Instead, we do make it simple for you to filter vehicles by Listing Type, Location, Make, Model etc. By regularly checking the website, you are certain to find the vehicle you desire. However we try to update you through SMS or through emails for the latest vehicles updated on the website. For the vehicles auction ending soon.
5. Can I buy an Insurance Auction item right away, without sending an offer?
Majority of Insurance Auctions do not offer a "buy now" option, but the once that do have their listings marked with "buy now" option. Other vehicles sold via Insurance Auction go through a bidding process and are awarded to the party with the highest bid. Please note a no. of vehicles displayed on our website are on Insurance Auction premises and can be purchased by registered buyers only. We are registered at every auction and can present your offers and purchase vehicles from the Insurance Auctions on your behalf.
6. Can I visit your location and buy a vehicle on the spot?
Most of the vehicles are located at Diffrent Places and are available for inspection , but to buy the same you have to participate in the bidding process. How ever some vehicles are available for instant purchase. Such vehicles are highlighted specifically.
7. Selectautomart.com' s bidding has ended. Is my bid the highest?
if a customer has the highest ACTIVE bid at the end of the Selectautomart.com end of bidding time, we automatically notify him via e-mail and update his account on Selectautomart.com.It is the customer's responsibility to check his e-mail and bid status by selecting the `My Account` menu and then the `My Bids` option. If the customer never activated a 'Pending Bid', it's not considered to be the highest and won`t be presented at the auction. To activate a bid the customer must submit a security deposit of Rs 10000/- or 10% of the bid amount (whichever is greater). Up until the Selectautomart.com bidding closes,we notify customers via email when they have been outbid, or if they need to activate their bid. We also recommend customers to regularly check their bid status in the "My Bids" page before the bidding ends. Next, one of our affiliated dealers, on your behalf, bids at the Insurance Auction (closed to the general public).If the bid is accepted by the Insurance Auction, our authorized affiliate dealer acquires the vehicle for the customer.
8. Why was the Selectautomart.com bidding deadline extended?
If a bid is received within the last 5 minutes of the deadline on our site, ( in case of open auction only )
the bidding end time is automatically extended for an additional 5 minutes. This feature has been implemented to allow the customer previously with the highest bid to increase. Selectautomart.com is service-company soliciting highest bids to be presented at affiliated insurance auctions. We encourage each of our customers to submit his highest bid from the beginning. Doing so will increase the affiliated dealer's chances of acquiring the vehicle for the customer and will help mitigate further last-minute bid increases.
9. Why did I receive notice after Selectautomart.com `s bidding ended that my bid is no longer the highest?
Even though a customer may hold the highest bid on our site, the Insurance Auction may have received and accepted a higher bid from another authorized party. That`s why we encourage our customers to submit their ABSOLUTE MAXIMUM bid they are willing to pay for the vehicle.
10. When will I be notified of the results from the Insurance Auction?
Customers with highest active bid are notified of the results from the subsequent Insurance Auction by e-mail. Additionally the results are posted under customer`s 'My Account' section.
11.Do you accept credit cards/Debit Cards/Netbanking ?
Payments can be made on line, through credit cards/debit card or through Net banking. All the payments has to be made into our HDFC Bank account no.04352020000332 in the name of Select Technical Services, HDFC Bank, NAC Manimajra, Chandigarh , or the payments can be made through Bank Draft in favour of Select Technical Services, Payable at Chandigarh.
12. What is the Selectautomart fee of Rs. 5000/- or 3%?
All items on our site are subject to a Rs. 5000 or 3% standard fee, whichever is greater. The fee we charge is for acquiring vehicles for our users. This standard fee is in addition to your offer amount. For example, if you submit a Rs. 100000 offer, and you wins that item , the invoice total will be Rs. 100000/- purchase price + Rs.5000 Selectautomart fee
13. How much does your service cost?
We only charge Rs.5000/- or 3% standard fee (whichever is greater) for our services.
PAYMENT INSTRUCTIONS AND RULES
1. How do I pay for the car?
Balance Due: The customer must pay the balance due in full no later than 2 business days from sale confirmation notification. Once an offer is accepted by Insurance Auction, we send a Sale Confirmation Notification via e-mail, SMS , Telephonically, to the customer and update the customer's invoice on Selectautomart.com. The customer is responsible for checking his updated invoices (by selecting "My Account", then "My Transactions/My Purchases") and e-mail. All accounts with payments after the specified due date will be charged a Late Fee of Rs.500 per day per item
Payment Terms: Balances Due may be paid by Bank Transfer, cash deposit into bank account or through demand draft. We do not accept Personal Checks. If you reside outside and/or cannot make payment on time, either arrange to prepay the full amount before submitting your offer, or be prepared to acquire daily late fees. A standard fee in the amount of Rs.5000/- or 3% (whichever is greater) will be added to the customer invoice immediately after the offer is accepted by the Insurance Auction.
Late payment fee/penalties: If a vehicle is not paid within 2 days from the auction day, it will incur Rs. 500/- per day late fees. If a vehicle is not paid within a week, vehicle will be re-listed, your account will be suspended, and your deposit will be forfeited.
Storage Fee: Insurance auctions will store any item you`ve purchased up to 4 days beginning from the day the vehicle was purchased (4 calendar days) at no charge. After that, the customer will incur all parking charges charged by the workshop owner/where the vehicle is parked including weekends. If the vehicle is not picked up within 2 weeks from the auction date the Insurance auction will consider it abandoned and will resell the vehicle without further reimbursement to the customer, so PLEASE MAKE SURE YOUR VEHICLE IS PICKED UP ON TIME.
IF THERE IS A BALANCE ON THE ACCOUNT, YOUR VEHICLE WILL NOT BE RELEASED.
I sent in a full payment for the vehicle purchased by me, but my invoice with Selectautomart.com still has an outstanding balance. Why?
There are three possible scenarios:
1. You did not pay on time, and Late Fees (Rs.500/- per day/item) were added to the purchase price.
2. You did not pick-up the vehicle on time, and Storage Fees were added to the purchase price.
3. Part of a payment was applied to an outstanding invoice/deposit. According to the priority rules established by affiliate dealers with Selectautomart.com , all payments received can be applied to ANY outstanding invoices/deposits that are under the customer's account. Usually, outstanding deposits are satisfied first.
Security Deposit Refunds
Security Deposit is refundable ONLY when a vehicle is not acquired by selectautomart.com or one of our affiliate dealers (i.e. the item sells for more at Insurance Auction than your offer at selectautomart.com , or the Insurance Auction does not approve/accept the offer). If the item has been acquired from the Insurance Auction by Seletautomart.com or one of our affiliated dealers and the buyer forfeits the sale, the Security Deposit is NOT REFUNDABLE.
When will I receive my refund?
Refunds are processed weekly and are remitted within 30 days after customer request.
How much is the security deposit?
Security Deposits are Rs.10000/- or 10% of the bid amount, whichever is greater. Deposit is required to activate a bid. Deposits are accepted via Bank Transfer (all values) into our bank ac no.04352020000332 favoring Select Technical Services , HDFC Bank, NAC Manimajra, Chandigarh. Please note the customer's account will be suspended for non-payment if the customer doesn`t send the deposit on-time. Suspended customers may be reinstated only by sending a deposit via Bank transfer, which will be applicable to his/her next purchase. Please plan accordingly to submit your payment in advance. Please note if a customer submits an offer with Selectautomart.com and has an available credit, the available credit will be used toward the bid deposit.
There is no damage report listed. What are the damages on an Insurance Auction item?
Insurance Auctions do not provide a damage report and/or full description of their vehicles. However, very brief descriptions for Loss Type and Damage Type are normally offered under the Vehicle Description section of each listing. All information provided by the Insurance Auctions to us is displayed on the site.
How did the damage occur? How long has the vehicle been in its condition? Have any repairs been done?
Unfortunately, we are unable to determine how damages occur, how long a vehicle has been sitting in its current condition, and if repairs have been done. Insurance Auctions do not provide us with damage reports and/or full descriptions and histories of their vehicles. However, very brief descriptions for Loss Type and Damage Type are normally offered under the Vehicle Description section of each listing. All information provided by the Insurance Auctions to us is displayed on the site. All vehicles are sold "as-is where is basis"
Are loose parts displayed in the pictures included in the sale?
Because loose parts can be lost/misplaced/detached at Insurance Auctions and/or in transit, we do not guarantee loose parts availability, even if they are visible in the photographs.
Does the vehicle start?
Most vehicles displayed on our website are located at Insurance Auction premises and are not available for testing. Therefore, we are typically unable to advise you if the item runs or not. In the event when the Insurance Auction lets us know the item runs or not, we include this information in the listing.
I received my vehicle and there are additional damages, undercarriage and other latent defects not visible in the pictures. What can I do?
All vehicles displayed on our website are sold "as-is where is basis", therefore there is no recourse. We understand undercarriage and other latent defects are not visible in the photographs. Customers must understand that salvage vehicles may have latent defects (e.g. undercarriage damage, under hood damage, etc.). Selectautomart.com is NOT aware of latent defects of any vehicle. Insurance Auctions do not provide us with damage reports and/or full descriptions and histories of their vehicles. All information provided by the Insurance Auctions to us aredisplayed on the site.Vehicles might also have been previously repaired. Selectautomart.com and its affiliate dealers 1) are NOT aware of repairs performed, and 2) can NOT comment on the craftsmanship of repairs, it performed, on any vehicle. Please, place your offers with cognizance!
Can you tell me how much it would cost to repair a vehicle?
Selectautomart.com does not repair vehicles and, for legal reasons, does not provide repair estimates. Prices for new parts can be obtained from a local authorized dealer (of your vehicle make). Prices for used parts can be obtained from the local market.
I received my vehicle from the transport company and there is more damage/missing/replaced parts than displayed in the original pictures. What can I do?
Any additional damages/missing/replaced parts that were not advertised must be presented to the auction facility staff during vehicle pick-up, prior to leaving the auction facility. Once a vehicle is picked up and removed from the insurance auction facility, Selectautomart.com cannot be held responsible for any damages and will not be able to reimburse you. It is the customer/transporter`s responsibility to notify the auction facility of any damages/missing/replaced parts or refuse pick up due to additional damages. If you or your transporter arrive to pick the vehicle up and there are damages, notify the auction facility staff and contact our office. In addition, please take photos of the damages and prepare a list of missing/replaced parts and e-mail these items to us.
What documents I have to carry at the time of lifting of the vehicle ?
At the time of lifting of the vehicle the customer/buyer must posses the following with him:
Passport size photographs -1no.
Copy of Pan card
Copy of photo ID Proof like- Voter ID Card, Driving license, Copy of Passport , copy of Adhar Card
In addition to the above the customer/buyer has to furnish an affidavit stating that he is fully aware of the condition of the vehicle, he is buying(in accidental condition), he will not misuse the same, and he will be fully responsible for the vehicle in future for all types of challans and any legal liabilities.
When will I receive the papers of the veh. ?
As a courtesy, Selectautomart.com processes vehicle papers/transfer papers for vehicles purchased by our customers. Usually all the relevant papers of the vehicle like registration certificate and all other transfer papers handed over to the buyer at the time of delivery of the veh. We are unable to provide an estimated time frame for delivery of the all the transfer papers to the customer/buyer due to many factors, e.g. clearance of Bank Hypothecation. .
NOTE: Selectautomart.com reserves the right to choose the appropriate delivery service. All papers are processed in the order they are received.
What do I need to pick up the vehicle?
Original paperwork and zero balance on the invoice. Please confirm that selectautomart.com has received and approved your paperwork prior to picking up the vehicle! If not, the vehicle will not be released to you
When can I pick up the vehicle?
You can arrange for pick-up as soon as you receive notification from us that the vehicle is ready for pickup. Please do not attempt vehicle pick-up without such notification. Also note,that the vehicle can not be released to you if your paperwork is missing / not approved, or if you have an outstanding balance.
Does the vehicle have keys?
Many vehicles from Insurance Auctions come without keys. Sometimes keys are lost at the auction lot, during moves of the vehicle between and within auction lots, or in transit. Therefore, we do NOT guarantee the availability of keys, even when they are visible in the photographs.
How can I obtain a key for the vehicle?
We suggest the following three ways to obtain a key for your vehicle: 1) From VIN. Contact a local authorized dealer (for your vehicle make) and inquire if a key can be made from the VIN 2) From Ignition Code. If the local authorized dealer cannot make a key from the VIN, then ask if a key can be made from the code engraved on the ignition. This would require removal of the ignition in order to view the code. 3) From Ignition. Take your vehicle's ignition to a locksmith, who will be able to make a key specific to the ignition. This usually costs under Rs.500.
What are your working hours?
Monday through Saturday and is closed on Sundays and major holidays.
Customer Service Centers are open 9am - 6pm local time, Monday through Saturday and are closed on Sundays and local holidays
Customers/buyrs can contact us at the following tel nos/email ids
9876022555, 9356022555, 9357222555,
0172-5024390, 5024399
