Fees & Refund Policy

This Fees and Refund Policy serves as an addendum to the SALVAGE WORLD Site User Agreement (the “Agreement”) and is incorporated by reference into the Agreement between the User and SalvageWorld.

Salvageworld.net provides our customers the ability to buy from DEALER ONLY AUCTIONS as long as the customer has a DEPOSIT, that is a 100 % refundable if no high offers are accepted. If a vehicle is purchased, the deposit will be applied to offset the Buyer's fees. If a vehicle is purchased and not payed in full within 5 days a RE-LIST fee is charged to the customer of no less then for $500 and no greater than 10% of the total purchase price. Depending on Insurance Company, Insurance Auction, Salvage World might require $3000 or 33% deposit depending on where the particular vehicle is being offered.  The deposit can and will be used to offset these charges as well. In addition to full assess to Dealer Only Auctions, Insurance Company Vehicles, Insurance Auctions, the deposit gives our customers full service to our experts who will assist in helping analyze each vehicle on true market value, repair costs (if needed), transport (if needed) etc. We will also assist in contacting the auctions and insurance companies to obtain all possible information on each and every vehicle the costumer wishes. Our deposit is $500 per vehicle and will be applied to our BUYER fee or to the purchase price. 

A. Deposits: The following deposits must be paid in accordance with the requirements set forth herein and as further set forth within the Agreement:

a. Initial Deposit: Five Hundred dollars ($500.00) or Ten Percent (10%) of your total bid offer amount (whichever is greater).  This deposit is FULLY refundable on the 60th day if a vehicle is not acquired by then. Any members wishing to early terminate within the 60 day period will be charged a $40.00 service charge and $50.00 early termination fee. Other competing sites charge an annual registration of $150 dollars for vehicles that we offer for FREE on our site. We do encourage our members to bid on multiple vehicles before requesting refunds.

b. VIP MEMBERSHIP UPGRADE: 

Upgrading to our V.I.P membership of $150 dollars per year allows you to view vehicles that our competing sites do not offer. By upgrading to this membership, customer agrees not to dispute any charges and also agrees to an annual recurring membership of $150 dollars.

c. Deposit fee required: Certain insurance companies and auctions may require a One Thousand dollar($3,000) or Twenty Percent (33%) deposit before we can submit the offer whichever is greater. Please keep in mind Salvage World deals with different insurance companies and or auctions that may have different terms and conditions, in order to avoid and deter customers from bidding on vehicles and then re listing them.

By depositing funds to your account, SalvageWorld will submit your bid offer to the insurance company auction that is featuring the vehicle. If Salvage World does not receive your Security Deposit fee before 9:00 AM EASTERN STANDARD TIME the day the bidding period ends, SALVAGEWORLD will not submit your bid offer and/or pursue the acquisition of your vehicle. In addition, if you have the highest eligible offer, and do not submit the required Security Deposit for the vehicle that you make the highest offer on, your account will be closed and SALVAGEWORLD shall pursue collection of the Security Deposit, related fees and seek reimbursement for any legal costs and fees associated with collection.

d. Refunds: If your bid/offer is not the highest offer at the insurance auction which we submit the bid/offers and as a result you are not awarded your vehicle, your deposit will remain in your account for any other bid/offer you make on SALVAGEWORLD at no cost to you.  If you choose to have your deposit refunded you must request a refund via SALVAGEWORLD ONLY. Once again there is a $40.00 service charge and a $50.00early termination fee. Please make every effort to make realistic bids on multiple vehicles before you decide to ask for a refund. We do not want our bidders/buyers to get discouraged after bidding on a few vehicles.  Refunds CAN NOT be requested via telephone or via email.   To Request a Refund please click here.

Forms of Payment: Currently, SALVAGEWORLD accepts two methods of payment: Credit Card, Wire Transfer). Credit Card is the fastest way to initially fund your account. Once SALVAGEWORLD has your cleared payment, your SALVAGEWORLD account will be updated to include the deposited funds. If you are not awarded your vehicle, your deposit may be applied towards your future auctions.

SALVAGE WORLD DOES NOT ACCEPT PAYPAL.

All checks will be mailed to the address on file for the SALVAGEWORLD registered user unless notified otherwise via Email to our refund department. 

Credit Card Refunds and BIDDING FEE
In the event that you request a full or partial refund on the 90th day, you will be subject to the following fees:

1. All Credit Card refunds  will take 5-15 days for processing AFTER the 60 day membership has ended.

From the 1st bid placed on (SALVAGEWORLD.NET)  Refunds will be processed within 5-15 days after your 60 day membership has EXPIRED as long as Insurance auctions release vehicle bidding obligation with said notice to SALVAGEWORLD.NET and its contractors; on approval sales and RELIST vehicles are examples of such delays.

2. If you submitted your membership fee via a wire transfer, there is a thirty five dollar ($35.00) outbound wire fee associated with the transaction and will be deducted from any funds held on account by SALVAGEWORLD.
Checks will be issued for wire refunds and can take up to 5 days after the 60 day membership period has ended from the date of request to process.

3. Cash or Check: If you submitted your deposit via cash or check, there is no fee associated with a refund.  Check refunds can take up to 6 weeks from the date of request to be processed.

D.  Re-List Fees
In the event that we successfully acquire a vehicle for you, the balance must be paid within 24 hours so as not to incur Late fees; (If a customer does not pay for the car within 24 hours SALVAGEWORLD reserves the right to charge up to $50.00 a day in late fees)  If after 5 days (including weekends) of the date of purchase the vehicle has not been paid for in full, SALVAGEWORLD will Re-List the vehicle to be sold at a cost of 10% or $500 (which ever is greater) to the customer. A Re-List fee of 20% or $1,000 (whichever is greater) will be charged to the customer depending on the insurance auction and company offer was placed with.  The Re-List fee will be deducted from the SalvageWorld Customers account. 

E. Acquisition & Miscellaneous Fees:

1. Wire Fees: All outbound wires incur a wire transaction fee of thirty five dollars ($35.00) and all inbound wires incur a wire transaction fee of ten dollars ($10.00).

2. DMV / Title Fees: Please note that there is flat Eighty five dollars (85.00) DMV / Title Fee associated with successful transactions.

3. Acquisition Fees: In the event that your bid offer was submitted at the insurance auction and you were deemed top bidder and awarded the vehicle, SALVAGEWORLD will charge an Acquisition Fee based on the following information:

Current SALVAGEWORLD Buyer's Fee Schedule:

            As of MARCH 01 2013

The Acquisition Fee will be charged on your final invoice along with all other fees.
Please note all Fees are nonrefundable.