DEFINITIONS & INTERPRETATIONS

The following definitions, interpretations and expressions shall apply to all Contracts, references
and business dealings with BID4U.

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Warranty

means a legal obligation on the Auctioneer or Seller, at their own expense, to repair or make good, or cause to be repaired or made good a defect, whether or not if existed at the time of sale, so as to make the vehicle functional, roadworthy or in a reasonable condition having regard to its age.

           There are five types of warranties available:

   1.  New Car Manufacturer's Warranty
        a. Demonstrator Vehicles - New Car Manufacturer's Warranty
   2.  New Car Statutory Warranty

   3.  New Car Extended Warranty
   4.  Used Car Statutory Warranty
   5.  
Extended Warranty

Note: 1. BID4U does not provide warranties.
  2. New vehicles are provided with New Car Manufacturer's Warranties (Generally from 3 to 5 years)
from the date of first registration.
  3. Pre-Owned our used motor vehicles purchased through Dealers may or may not come with a
Statutory Warranty.
  4. Vehicles purchased at auction are generally not supplied with a Used Car Statutory Warranty but may include the balance of any New Car Manufacturer's Warranty.
  5. Private sales vehicles are rarely provided with with a Used Car Statutory Warranty but may include
the balance of any New Car Manufacturer's Warranty. 
  6. A Used Car Statutory Warranty or Extended Warranty is no substitute for Bid 4 U purchasing a quality, well serviced, safe, reliable, non-accident, collision or hail damaged, good condition vehicle in the first place.

 

 


 

 

 

 


 

Warranty Commencement Date

means the date the warranty commences on the vehicle. If this date is not recorded, the warranty comencement date is taken to be the date the vehicle was first registered.

Wholesale Price

means price at which a retailer or dealer would reasonably purchase a vehicle for resale at a profit without transformation, prior to adding their costs, expenses and profit margins.

Withdrawal of a Lot

means where a lot is withdrawn from sale by the Auctioneer at any time prior to the auction.

WOVR

means the Written-Off Vehicle Register.

A vehicle is recorded as a Write-Off where:

(a)  Assessed to have been damaged by any event to the extent that its fair salvage value plus the cost of reparing
      the vehicle for use on a road would be more than its fair market value immediately before the event that caused       the damage (ie; a financial or economic write-off); or

(b)  An auto dismantler begins to demolish or dismantle the vehicle.

Written-Off vehicles can be divided into two categories:

1.  Repairable Write-Off
2.  Statutory Write-Off

(Repairable Write-Off, Statutory Write-Off)

 

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These definitions and interpretations may be subject to review and change from time to time

 


 

*MTA Member Bidding Service DL: 18363*