What does the ‘TBO’ title mean, and is it only for dealers to bid on?
The term ‘TBO’ signifies ‘To Be Obtained’, which means that the auction house is in the process of securing crucial documents such as the vehicle’s title or lien releases. Bidders do not need to be licensed car dealers to participate in auctions on RideSafely.com.
Should you have further inquiries, our RideSafely support team is ready to assist. Connect with us directly at (215) 289-0300.
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Team RideSafely.com
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What is “reconstructed title or rebuilt title”?
When a vehicle is involved in an accident, and salvaged by the Insurance Company, it has to be reconstructed before being placed back on the road. After the vehicle is repaired, it`s inspected by an authorized mechanic and certified by the DMV as reconstructed to manufacturer specifications. The DMV issues a `reconstructed` title, which is treated the same way as a “clean” title regarding registration and insurance purposes. Please note http://www.ridesafely.com does not guarantee that all title denominations can be reconstructed in any particular state or country. Please refer any title questions to your local DMV.
Do you accept cash?
Our US-based customers can conveniently opt for cash payments. However, it’s important to note that for cash transactions amounting to $10,000 or more from the same customer within a 12-month period, we are obligated to report these transactions to the IRS using Form 8300. To comply with regulatory requirements, before accepting and applying a cash payment to your account, we must collect your Social Security number or your EIN (Employer Identification Number) for accurate reporting to the IRS. This ensures transparency and adherence to financial regulations.
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For any further queries or assistance, please feel free to reach out to us at (215) 289-0300. We’re here to help and ensure your experience with us is seamless.
Thank you,
Team RideSafely.com
feedback[at]ridesafely.com
How much is the security deposit?
To activate a bid with RideSafely, a security deposit is mandatory, which is either $600.00 or 10% of the bid amount, depending on which is greater. For your convenience, we accept deposits through various methods: Bank Wire Transfer (suitable for all amounts), Credit Card, and PayPal (up to $2,000.00 or two thousand dollars).
For our international customers residing in countries where PayPal is not accessible, it’s essential to transfer the necessary funds to a designated affiliated dealer’s account via Bank Wire Transfer before placing your offer.
Please be aware that if a deposit is not submitted on time, it will result in the suspension of the customer’s account due to non-payment. To reinstate a suspended account, customers must send a deposit via wire transfer, which will then be credited to their next purchase. It is advisable to plan and ensure timely deposit submissions.
In cases where a customer with available credit on their account submits an offer, this credit will automatically be applied toward the bid deposit.
Regarding credit card payments, it’s important to note that these payments are temporarily held and automatically released after a 21-day period. As a result, any credit on your account that has been charged to a credit card will remain for a 21-day period only.
For any further questions or assistance, please don’t hesitate to contact us at (215) 289-0300. We’re here to ensure a smooth and secure bidding experience at RideSafely.
Thank you,
Team RideSafely.com
feedback[at]ridesafely.com