1. Auction Access with REX AUTO™
REX AUTO LLC (referred to as “REX AUTO”) is a licensed auto dealer, established in 2004 in the state of Indiana. REX AUTO offers remarketing solutions for US auto auctions, by purchasing and reselling vehicles to eligible US-based and foreign retail and wholesale buyers (referred to as “Buyer”). REX AUTO does not offer broker services, instead it completes the purchase, documentation and title reassignment process as the rightful buyer of each vehicle, and then engages in reselling vehicles to eligible Buyers.
2. Single Purchase Transaction
The Buyer will provide the specific lot number, maximum bid price and other details about the vehicle of interest. REX AUTO bidding specialist will place bids at the live Internet auction up to the maximum bid. If the vehicle is sold for less than the maximum bid, the Buyer will pay the winning price, plus auction fees.
3. Single Purchase Transaction Fees
A. Registration fee.
The registration is currently free. REX AUTO reserves the right to increase registration and renewal fees at any time without notice.
B. Security Deposit.
REX AUTO requires a security deposit using PayPal, REX AUTO will hold the deposit of $1000 or 15% of the bid amount (whichever is greater) until: the vehicle is paid, picked up, the title is turned in for transfer OR a bill of lading is provided if the vehicle has been exported.
C. Transaction fee (depend on purchase price):
• $0 - $999: $250
• $1000 - $19999: $300
• $20000 - $39999: $350
• $40000 to any higher: $500
D. Wire Transfer fee.
$30 in the US or $45 Internationally
E. Mailing fee.
FedEx title delivery $35 (if requested), USPS Priority postage - FREE
F. Title reassignment and retail sales documentation.
$100 (if applicable, please ask about details)
G. Sales tax.
All US based clients that are Non-Dealers, are subject to paying 7% Indiana sales tax. H. New title fee. (If requested by customer, REX AUTO does not guaranty that we will be able to get an Indiana title.)
$250
I. Reselling fee (when customer wants to resell the car at an auction under REX AUTO, only if title is still under REX AUTO)
$250
J. Duplicate of title request (auction fees not included)
$250
