In addition to the final purchase price paid to the seller, buyers pay a 5% buyer’s fee to Otoz.Ai Auction. The buyer’s fee has a minimum of $250, and a maximum of $7,500.

In order to register, first sign up by clicking the “Sign In” icon in the upper right corner of the screen – then click “Sign up here” in the box that subsequently pops up. Once you create a username and password, you’ll be prompted to verify your email address. After you’ve done that, you can return to Otoz.Ai Auction and you’ll be prompted to register to bid. If you don’t want to register just yet, no problem – you can do it later. Once you find a car you want to bid on, click “Place Bid” on the car’s listing page, and you’ll be prompted to register before you can bid. You will have to enter your credit information, as we place a hold on each bidder’s credit card until the conclusion of the auction.

In order to place a bid, you first have to register, which we’ve explained above. Once you’ve registered and you’ve found a car you’re interested in buying, bidding is easy – just click the “Place Bid” icon on a vehicle’s listing page. Then, you’re prompted to enter your bid amount. Your bid must be higher than the previous bid, of course – and depending on the current bidding level, there may be a minimum increase over the previous bid. Once you’ve submitted your bid, we place a hold on your credit card for 5% of your bid amount until the duration of the auction, in case you end up as the winning bidder.

Bid increments increase as follows:

• Minimum bid of $100 to start the auction
• $100 increments up to $14,999
• $250 increments from $15,000 to $49,999
• $500 increments from $50,000 to $199,999
• $1,000 increments at or above $200,000

All bids on Otoz.Ai Auction are in United States Dollars (USD).

No. If you are outbid, you will need to manually input your next bid. Note that the price of the vehicle will immediately progress to your bid amount. For example, if the current high-bid is $30,000 and you input a $35,000 bid, the current high bid will immediately go to $35,000.

We place a hold on your credit card when you bid in order to account for the possibility that you may have to pay the buyer’s fee, should you end up as the winning bidder. The hold is for 5% of your initial bid amount, with a minimum of $250 and a maximum of $7,500. If you aren’t the winning bidder, the hold is released from your credit card at the conclusion of the auction.

While we’ve tried to make buying a car online as safe and easy as possible, it’s ultimately your responsibility to perform your own due diligence and make sure that the car you’re considering is right for you – prior to placing a bid.

• Review the listing thoroughly, including known flaws, the vehicle history report, the vehicle inspection report (if applicable), recent maintenance, comments, questions, photos, etc.
• Ask the seller – via comments, Seller Q&A, or the “Contact” feature – any questions that you may have about the vehicle.
• Arrange to inspect the vehicle in person, or work with the seller to schedule a detailed pre-purchase inspection (“PPI”) at a reputable shop in their area or via a mobile inspector such as Lemon Squad (at your cost). Live auctions will include a green “Contact” button next to the seller’s username. You can utilize this feature to get in touch with them and set up an inspection.

Bids are binding, so only bid if you fully intend to purchase the car and you have performed the requisite due diligence/planning. Buyer’s fees are not refundable after winning an auction. It’s important to consider this before participating in the bidding process.