ACV TITLE POLICY
ACV Auction Sellers have the ability to sell vehicle two ways:
- Title with Deal: Guarantees that the seller has a transferable title in hand and will be turned into the ACV office within 5 business days from time of sale. Any vehicle where a title has not been received by ACV within the 5 business days can be turned down at any point after that until a title has been produced. (48hr. notice required)
- Title Attached: Gives the seller 21 business days to produce a transferable title to the ACV office. (48hr. notice required)
What can a seller expect after a sale?
- Notification of Sale– when a vehicle sells on ACV, a Bill of Sale (BOS) and a FedEx® label for title paperwork shipping are emailed to the address listed in your dealership profile.
- Completing title paperwork options.
- Complete the transfer of ownership–the odometer reading and buyer information can be obtained from the BOS.
- Sign as the seller–the ACV Title Team will complete the rest.
- Give ACV Power of Attorney (POA)–the ACV Title Team will complete the title form.
- Delivery requirements based on title status–please take note of the title status when listing vehicles.
- Title With Deal (TWD)–vehicles listed with a transferable title. It is required that the title is delivered to ACV within Five (5) business days of the date of sale. Send title paperwork immediately after receiving the Notification of Sale.
- Title Absent (TA)–vehicles listed without a transferable title. It is required that the title is delivered to ACV within Twenty-one (21) business days of the date of sale.
48 Hour Notice–delinquent title delivery.
If ACV does not receive title within the allotted time, the buyer can place a 48 Hour Notice to withdraw their offer. When a 48 Hour Notice is placed, a member of the ACV Title Team will contact you or your title clerk immediately.
- When can a buyer place a 48 Hour Notice?
- Vehicles listed TWD–the buyer can place a 48 Hour Notice to withdraw their offer as of the 3rd business day after the date of sale.
- Vehicles listed TA–the buyer can place a 48 Hour Notice to withdraw their offer as of the 19 business day after the date of sale.
- What can you do to stop a 48 Hour Notice from resulting in the unwinding of a sale? You have until 5:00 PM EST on the 2nd business day from the date the 48 Hour Notice was placed to deliver the title paperwork to ACV Auctions headquarters.
- Policy to suspend the 48 Hour Notice due to Inclement weather, natural and human-made disasters. 48 Hour Notices are suspended when inclement weather or a disaster affects a company’s ability to open for business and/or FedEx’s ability to pick up and/or deliver titles. They resume when ACV has resumed operations, and FedEx has the ability to pick-up and/or deliver to the affected areas.
- Please do not sign the title, assignment, or odometer statement over to ACV Auctions. ACV does not take title or possession of the vehicle.
- Before sending your title paperwork to ACV, please ensure:
- The Vin # is correct.
- Mileage branded on the front of the title is accurate.
- If there is a lien on the title, the required signature is on or included with the title, along with the original lien release.
- All reassignments are accurate and included.
- POA is included if required.
- All paperwork requiring a Notary signature has been notarized.
Special Title Notes:
Clerical Errors – If a title problem is due to a clerical / coding error or incomplete documentation, ACV Auctions shall be given reasonable time after receiving notice to have the error corrected.
Buyers Responsibilities – ACV Auctions and Seller will not be responsible for any vehicle sale or repairs made to Title Attached vehicles in the event a title is not produced.
Seller Responsibilities – Sellers may be responsible for refunding transportation expenses for vehicle where a title could not be produced.
It will be the buyer’s responsibility to notify the ACV Auctions title department 48 hours prior to unwinding an auction due to a title not being produced. This will allow ACV Auctions to contact the seller and put them on notice of the pending arbitration. If the seller does not produce a transferable title to the ACV office by 5:00pm on the second day after notice was made the auction will be voided. The earliest the notice can be submitted from a buyer is Day 19, (Sale Day being Day 1). Contact titles department at firstname.lastname@example.org.