Effective Date: September 1, 2021 These Auction Terms of Use (“Terms”) govern your access to and use of the online auction platform operated by Venmyautorepo, LLC (“Venmyautorepo,” “we,” “us,” or “our”), including any websites, applications, or services used to conduct vehicle auctions (collectively, the “Services”). Contact Information
Email: [email protected]
Phone: +1 (913) 335-0750
Address: Gateway Tower II, 1305 N 4th St, Kansas City, KS 66101 By accessing or using the Services, you agree to be legally bound by these Terms and our Privacy Policy. If you do not agree, you may not use the Services.
IMPORTANT ARBITRATION & CLASS ACTION NOTICE
EXCEPT FOR CERTAIN LIMITED DISPUTES DESCRIBED BELOW, ALL DISPUTES MUST BE RESOLVED BY BINDING INDIVIDUAL ARBITRATION, AND YOU WAIVE ANY RIGHT TO PARTICIPATE IN A CLASS ACTION OR CLASS-WIDE ARBITRATION.
1. Auction Platform & Agency Relationship
Venmyautorepo operates an auction-only marketplace for the sale of motor vehicles and automotive assets. Venmyautorepo acts solely as an authorized agent for banks, finance institutions, leasing companies, and other asset owners (each, an “Asset Owner”) to market and sell:
- End-of-lease vehicles
- Repossessed vehicles
- Fleet vehicles
- Other automotive assets
Venmyautorepo does not own the vehicles unless expressly stated and does not take title to vehicles sold through the Services. All vehicle sales are made by the Asset Owner, with Venmyautorepo acting only as the authorized selling agent. Venmyautorepo is not a dealer, lender, broker, or purchaser, and is not a party to the final vehicle purchase contract except as agent for the Asset Owner.
2. Buyers and Sellers
For purposes of these Terms:
- “Seller” means the Asset Owner (bank, finance company, leasing company, or other owner), acting through Venmyautorepo as its authorized agent.
- “Bidder” or “Buyer” means any user placing a bid on a vehicle.
Any resulting sale contract is between the Asset Owner and the winning Buyer, even though Venmyautorepo facilitates the transaction as agent.
3. Eligibility
You must be at least 18 years old and legally capable of entering into binding contracts to use the Services. If you are bidding on behalf of a business entity, you represent that you have the authority to bind that entity.
4. Accounts & Registration
You may be required to register an account. You agree to:
- Provide accurate, current, and complete information
- Maintain the confidentiality of your login credentials
- Accept responsibility for all activity conducted through your account
Accounts are non-transferable without Venmyautorepo’s written consent.
5. Auction Rules
Binding Bids
- All bids are final, binding, and irrevocable
- The highest bid at the auction close constitutes a legally binding offer
- Winning Buyers are obligated to complete payment and purchase
Vehicle Condition & Disclosures
Vehicles sold through the Services may include repossessions or off-lease assets and may show wear, damage, or missing items. ALL VEHICLES ARE SOLD “AS IS, WHERE IS,” WITH ALL FAULTS, unless expressly stated otherwise in writing by the Asset Owner.
6. Payments & Fees
- Registration is free
- Certain auctions or services may require payment
- Winning Buyers must pay the final bid amount and any disclosed fees
Unless expressly stated otherwise, buyer payments are refundable prior to vehicle release.
Seller (Asset Owner) Payments
Asset Owners must provide required payment and tax documentation (including IRS Form W-9) within 90 days following auction completion. Failure to do so releases Venmyautorepo from payment obligations.
7. Prohibited Conduct
You agree not to:
- Manipulate auctions or bidding activity
- Bid without intent or ability to complete purchase
- Create multiple accounts to influence outcomes
- Misrepresent identity or payment capability
- Interfere with auction integrity or platform security
Violations may result in immediate suspension or permanent termination.
8. User Content
You retain ownership of content you submit but grant Venmyautorepo a worldwide, perpetual, royalty-free, sublicensable license to use such content in connection with auction operations and marketing. You represent that all submitted content is accurate and lawful.
9. Copyright & DMCA
Venmyautorepo complies with the Digital Millennium Copyright Act (17 U.S.C. §512). DMCA Designated Agent
Venmyautorepo, LLC
Attn: DMCA Agent
Gateway Tower II
1305 N 4th St, Kansas City, KS 66101
Email: [email protected] Repeat infringers may have accounts terminated.
10. Disclaimer of Warranties
THE SERVICES AND ALL AUCTIONS ARE PROVIDED “AS IS” AND “AS AVAILABLE.” Venmyautorepo MAKES NO REPRESENTATIONS OR WARRANTIES REGARDING:
- VEHICLE CONDITION OR ROADWORTHINESS
- TITLE STATUS OR LIEN RELEASE TIMING
- AUCTION RESULTS OR TRANSACTION COMPLETION
ALL WARRANTIES, EXPRESS OR IMPLIED, ARE DISCLAIMED TO THE MAXIMUM EXTENT PERMITTED BY LAW.
11. Limitation of Liability
TO THE MAXIMUM EXTENT PERMITTED BY LAW, NEITHER Venmyautorepo NOR THE ASSET OWNERS SHALL BE LIABLE FOR INDIRECT, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES.
12. Indemnification
You agree to indemnify and hold harmless Venmyautorepo, the Asset Owners, and their affiliates from any claims arising from:
- Your participation in auctions
- Your breach of these Terms
- Your failure to complete a purchase
13. Termination
You may terminate your account at any time. Venmyautorepo may suspend or terminate access at its sole discretion. All provisions relating to arbitration, liability, indemnification, and intellectual property survive termination.
14. Governing Law
These Terms are governed by:
- The Federal Arbitration Act
- Applicable U.S. federal law
15. Arbitration Agreement
Binding individual arbitration administered by JAMS shall resolve all disputes.
- No class or consolidated actions
- Small claims court permitted, where applicable
- Injunctive relief is allowed for intellectual property disputes
Opt-Out
You may opt out within 30 days of first acceptance by mailing written notice to: Venmyautorepo, LLC
Gateway Tower II
1305 N 4th St, Kansas City, KS 66101
16. Miscellaneous
- These Terms constitute the entire agreement
- No partnership, joint venture, or employment relationship is created
- Unenforceable provisions are severed
- No third-party beneficiaries, except Asset Owners as intended beneficiaries