How does a VIX bid work?
A VIX bid means participating in an auction for a vehicle that is still owned by the seller at the time of the auction and whose title is still being processed. The VIX bid is presented at a closed auction, and the winning bidder is notified by email within three business days after the auction ends.
Once notified, the winning bidder submits payment to Carfast by 6:00 PM the following business day. After payment is received, the seller has up to 45 days to obtain the title and complete the sale. Once the documents are ready and the sale proceeds, the buyer receives an email notification.
Important: if the seller fails to obtain the title within 45 days, Carfast will notify the buyer and issue a refund in accordance with the Deposit Policy.