GTAA Policies and Procedures
Business Policies
Any person entering or on GTAA property agrees to abide by all Federal, State, County, and Municipal laws and ordinances.
Any person entering or on GTAA property agrees to abide by all signage, policies, procedures and determinations of GTAA.
GTAA reserves the right to refuse service to any individual or organization.
In the event of damage to property or premises, the dealer/agent shall be held liable for costs incurred.
GTAA reserves the right to to fully examine all vehicles, units, and packages when entering and leaving the premises.
All transactions are subject to GTAA final approval.
Any vehicle consigned with GTAA will be subject to government inspection, with or without prior notice, by local authorities, National Theft Bureau, State Police, FBI, and any other government/quasi-government agency.
No guarantees or representations will be made on any vehicle sold or offered for sale by GTAA.
No guarantees regarding vehicle mileages.
In the event of non-payment, if made by statement or threat, GTAA will exercise all legal rights under the law, but not limited to, ensuring the dealer is entered into the
National KO Book, filing a claim with auction insurance, bond acquisition of said buyer, and any/all necessary legal action to recover losses.
Buyer’s Responsibility
Inspect vehicles prior to sale start.
Units purchased during Thursday's dealer sale must be paid for that day. The grace period for this payment is 48 business hours or by the following Monday by 5 PM. EACH UNIT not paid for within this time will incur a Late Payment Fee of $100.
Sale Price and all Fees by draft, cash, floor plan, or check
Ensure that miles and year model of vehicles are correctly displayed on the unit.
Unsure that bids are known by the ringman or auctioneer.
Stay aware of announcements regarding vehicles made by auctioneers.
Confirming your winning bid and accepting it by signing a block ticket.
Ensure to inspect vehicles purchased before the end of the sale day.
When purchased on an IF, the buyer is responsible for contacting the auction for the status of the IF bids.
“IF” Bids
GTAA does not recognize a time frame for an IF to expire, therefore, the buyer must pay for the unit according to GTAA policy, unless otherwise notified.
GTAA will make every attempt to contact buyers and sellers and provide available information to them accordingly.
When the IF bid is accepted by the seller, the unit is considered SOLD and the GTAA must receive payment for the unit.
Please make any Arbitration claims for IF bids before the end of the sale day.
Liability
GTAA is not liable for physical damage to a unit, theft of contents or the unit itself, or any general liability while vehicles are being bought, sold or on consignment.
All Buyers, Sellers, Consignors and their guests/representatives agree to indemnify and hold harmless GTAA and any of its agents for any liability or claim.
Units purchased during Thursday's dealer sale must be paid for that day. The grace period for this payment is 48 business hours or by the following Monday by 5 PM. EACH UNIT not paid for within this time will incur a Late Payment Fee of $100.
Vehicles purchased and left on GTAA property for more than 90 days Will Be Disposed of By GTAA, and fees will be held from the proceeds.
Payments
Per GTAA company policy, units purchased during Thursday's dealer sale must be paid for that day. The grace period for this payment is 48 business hours or by the following Monday by 5 PM. EACH UNIT not paid for within this time will incur a Late Payment Fee of $100.
Unit Sale prices and all associated fees must be paid using cash, floor plan or business check. (No personal checks allowed)
Any purchase price exceeding $100,000 requires a floor plan, ACH or payment wire. No Checks Allowed
When paying for multiple units by check, each check may not exceed $99,999.
If one check is written for multiple units, only one title is needed to process the entire check.
Buyers intending to use a floor plan must contact/confirm with GTAA prior to flooring.
Situationally, GTAA may add Accounts Receivable Fees to a Dealership’s account. These fees must be paid within 7 days of notice in order to keep good standing with GTAA.
Registration
All dealers must obtain a bidder badge before entering the sales area.
GTAA requires dealers to complete all registration and any additional information, if requested, prior to buying, selling, or consigning units.
Bidders must use their own badge number, exclusively.
Sale Procedures
Children under 18 are not allowed on the lot or buying areas.
Only announcements made by the auctioneer publicly, on behalf of the seller, will be deemed valid.
GTAA holds no responsibility for statements made by seller, third party, or consignor.
All badges must be displayed visibly while conducting business.
Vehicles Exiting GTAA Property
No vehicle shall leave the premises without a receipt of payment, or a GTAA gate pass for said unit(s).
No vehicle shall be removed from GTAA property without payment in full.
Seller Responsibility
Honestly represent each unit’s condition with transparency in accordance with NAAA requirements.
Clear and salable title must be delivered to GTAA; if not done within 30 calendar days, the buyer may return the unit to GTAA after a 24 hour notice has been given to GTAA.
If no title from the seller is present by the end of the following business day that the unit is returned to GTAA, Seller is considered responsible for purchase price, auction fees and transportation of the unit back to the auction.
Title Late Fee Timeframes *Effective June 1, 2024*
Titles Received after 30 calendar days after Sale Date will result in a Late Title Fee of $150
Must pay transportation charges, returned vehicle fees and arbitration fees against Seller
Assist GTAA in the acquisition of duplicate titles, lien releases, affidavits, etc.
Seller Declarations
Accurate description, condition, mileage and any other relevant information.
Frame damage and/or repaired frames
Reassigned Vehicle Identification Number (if any)
Rebuilt and theft recovery units
Missing or altered factory emission equipment
Salvage Titles
Any known arbitrable defect that exceeds $800 to repair (wholesale/GTAA costs)
True Odometer reading
Titles
Per NAAA guidelines, dealers have 30 calendar days after a unit is sold, if a clear and marketable title isn’t delivered to GTAA, the buyer may return the unit to GTAA with a minimum of a 24-hour notice prior to returning the unit.
If the seller cannot provide the title within 4 business days, the seller will be held responsible for the purchase price, auction fees, and transportation back to GTAA.
Buyers are responsible for returning units to GTAA within 48 hours of notification of late title arbitration if located within 100 miles of GTAA. If farther, 96 hours is permitted.
Buyer is responsible for any alterations and improvements made to a unit before title is provided. Any alterations or improvements performed before a title id provided, they aren’t eligible for reimbursement of these costs.
The only guaranteed reimbursement for a buyer is upon returning a unit, the buyer is entitled to the purchase price and sale fees for that unit.
If and when the title cannot be given or cleared, the buyer must return the unit in the same condition it was in when it left GTAA property.
Monthly Depreciation rules of the NAAA will be applied
Late Return Mileage - 250 miles max, then $0.50 per mile will be deducted from the original sales price.
Titles misrepresented by sellers as clear and marketable give a buyer the right to return the unit. Purchase price, sales fees, and transportation costs will be reimbursed to the buyer and fees will be added to the seller.
Click Link below for more information!
On Sale Day the Test Track will be available from Noon to 2 PM. Make sure you get a chance to check out the units before the sale! The Test Track entrance will also be where you can raise the hood and inspect units. No hoods are to be raised in the parking lot.