Effective Date: June 5, 2024
ACV Auctions Inc. Vehicle Condition Arbitration Policy – Terms and Conditions for Purchase Protection (“Terms and Conditions”)
Buyers selecting the Purchase Protection at the time of purchase will have a limited right to cancel the vehicle sale if their transaction meets certain conditions as described below in these Terms and Conditions. Except as expressly set forth in these Terms and Conditions, the Vehicle Condition Arbitration Policy of ACV Auctions Inc. (“ACV”) at https://www.acvauctions.com/legal/arbitration (“ACV’s Arbitration Policy”) applies to all Purchase Protection vehicle purchases. Capitalized terms used, but not defined in these Terms and Conditions, have the meanings set forth in ACV’s Arbitration Policy.
To be eligible for cancellation, the vehicle transaction must meet the following criteria:
- The vehicle does not fall within any of the following categories:
- Red-light vehicles
- Vehicle sale price of $75,000 or more
- Vehicles with mileage of 175,000 miles or more at the time of sale
- Exotic vehicles as determined by ACV (which includes, but is not limited to Bentley, Bugatti, McLaren, Lamborghini, Ferrari, and similar vehicles)
- Powersports, heavy equipment, electric vehicles, and Class 4 or higher vehicles
- The defect or condition for which arbitration is sought is valid and has an ACV estimated repair cost of $800 or more (in each case, as determined by ACV pursuant to ACV’s Arbitration Policy).
- The vehicle sale amount does not exceed 110% of the estimated vehicle amount determined by ACV in its sole discretion.
- The vehicle is otherwise eligible for arbitration based on the conditions set forth in ACV’s Arbitration Policy.
If a vehicle sale meets the conditions above, a request for arbitration must be made within ten (10) calendar days from the end of the Standard Arbitration Window, unless Buyer has selected transportation services from ACV Transportation, in which case, the ten (10) calendar day period will begin at the later of (a) the date the vehicle is delivered to Buyer through the ACV Transportation services, with the date of delivery counting as day one (1) for the purpose of calculating this timeframe, or (b) the end of the Standard Arbitration Window.
If the foregoing requirements have been met and ACV has presented Buyer with a price adjustment, then Buyer has a one-time right to request cancellation of the sale within two (2) business days after receipt of the proposed price adjustment.
If ACV determines that the transaction qualifies for cancellation, Buyer will receive a refund equal to the buy fee paid by Buyer as well as the purchase price of the vehicle.
In the event of a conflict between these Terms and Conditions and ACV’s Arbitration Policy, these Terms and Conditions will apply. Otherwise, Section 11 of ACV’s Arbitration Policy applies.
