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Auction, paperwork & payment

When can I expect my first offer?

Your vehicle will be visible in the marketplace within 48 hours once you have a complete profile, including all vehicle photographs and details. To confirm your first auction date, you can log into your Autozen account. If you do not get an offer on your first auction, do not worry. We will run a second auction and work our magic to encourage as much attention as possible. If you are not receiving any offers, you can always reach out to support@autozen.com to speak to your auction manager about your options. 

Watch: Showcasing your car & offers

How long do I have to decide on my offer?

You have 24 hours to accept your offer once it is given. Should you need to discuss or ask questions, your auction manager will reach out to you via text to discuss the offer. 



Guidance and support

Our dedicated team is by your side, ready to provide any assistance you need throughout this process. From answering queries to offering guidance, we're here to ensure your journey is as smooth as possible. Autozen provides flexible car payment options for buyers and sellers. With various payment methods, we ensure a convenient and secure transaction process, making it easier than ever to get behind the wheel of your dream car. Explore Autozen today.


No bid, no worries

In the unlikely event that your vehicle doesn't receive any bids in its first auction, we automatically roll it over to the following one. Your car deserves its chance to shine, and we're committed to making that happen. Autozen offers invaluable car selling tips to help you maximize your selling experience. Whether you're a seasoned seller or new to the process, our platform provides expert insights and guidance to ensure a successful sale. Sell your car smarter with Autozen.



Am I selling to Autozen directly?

No. We handle getting you the offer, doing all the paperwork, pickup and payment but you are selling your car to a licensed Autozen buyer, not Autozen. Autozen offers a seamless car auction experience, connecting buyers and sellers effortlessly.


Company registered vehicle

If the vehicle is registered under a company please provide a Notice of Article and GST number as GST needs to be added on top of the sales price for you to claim GST.

This is now a company-to-company sale so therefore GST needs to be added.
If the vehicle is not registered under company then the sale will be final as accepted offer amount.


Paperwork & loan clearing

Watch: Documents & paperwork 

Paperwork and loan clearing

If you have a car loan/lien, Autozen will either pay off your loan or work with the buyer of your vehicle to pay off your loan right away. It’s important that we pay the loan and deliver your car to the buyer as quickly as possible so that your standing offer will not get impacted by the fluctuating market.


What documents do I need?

Driver’s license & registration

You’ll receive a link via email to a secure portal where you can upload a photo of your driver’s license and vehicle registration. If you own your vehicle or paid cash, then that's all the documentation we need from you!


I have a loan/financing

If you have an active loan, which 50% of vehicles do, then we need a few more things from you:

Your official loan payout statement

This is not a screenshot from your online banking account but rather, it is a formal document that includes the financial institution, account number, vehicle information (including VIN, payout expiry date and a per diem if necessary. The easiest way to get this is by calling your lender and asking for an email copy. If you have not paid o your loan just yet, no problem, Autozen will work with the buyer of your vehicle to pay o your loan. Our top priority is to make sure the loan gets paid and we deliver your car to the buyer as quickly as possible so that your standing oer will not get impacted by the fluctuating market.

Loan discharge letter

If you have paid off your vehicle loan in full you need to request a loan discharge letter stating the financial institution has no further interest in your vehicle.


Negative or Positive Balance / Equity & How to find out

If your vehicle has an outstanding loan (or "lien"), we require an oicial lien payout statement from the lien holder (eg. your bank). Once we have the outstanding balance, we can determine if it is a positive or negative equity scenario.


Positive Loan BEquity Scenario:

Car price is larger than the Outstanding lien amount.

During the pickup, we will transfer you the difference: Car Price - (Outstanding amount + 10 days per diem)= Transfer amount


Negative Loan Balance Equity Scenario:

Outstanding lien amount is larger than the Car Price.

During the pickup, you will transfer us* the difference: (Outstanding amount + 10 days per diem) - Car Price
= Transfer amount

How to transfer the negative loan balance / equity so we can full pay your car loan

Negative Balance $3,000 or less

Our system will send you an email transfer request on the day of the pickup, which you can accept at the time of pickup.

Negative Balance more than $3,000

We require an email authorization to charge the funds directly from your bank account. Once we receive your authorization and complete the pick-up, the system will charge your account accordingly.

Why are we calculating 10-day per diem

This is because the interest on the loan continues to accrue until the loan is fully paid off, and the per diem charge covers the interest that accrues until the loan is fully paid and settled. 

The 10-day per diem period is a common industry standard. It allows us a reasonable amount of time to complete the necessary paperwork and fully pay the loan from the payout statement date. 

By paying the 10-day per diem, we ensure that you are not responsible for any additional interest charges that may accrue during this period from the payout statement date and payment. 

The 10-day per diem amount will be applied against your loan balance, and excess payment will be refunded directly to you by the financial institution.

Next Steps:

Loan Payment Confirmation

We will send you the loan payment confirmation within 48-72 hours after pickup. 

Lien Discharge Letter 

Within 7-12 business days after we pay the loan, you will receive an official discharge letter directly from the lien holder.


Retrieving your loan statement:

  • We do not accept screenshots of online banking portals that show the outstanding amount
  • We need an official payout statement with the information listed below (see next section)
  • If you have recently paid off your lien in full, we will require an official release of interest letter from the financial institution
  • If you have a personal lien on the vehicle (not through auto-finance), you will need to contact your account 
    manager and ensure that the information listed below is present on the payout statement

How to find your loan statement >


Questions about financing, loans, liens or leases?

Autozen simplifies the car auction paperwork, reducing the hassle of documentation. We handle the nitty-gritty details, allowing you to focus on finding the perfect vehicle or selling yours stress-free. Join Autozen for a seamless car auction experience.

This is what our industry experts are here for. Please reach out to support to discuss your options at support@autozen.com.


Payments

Payments

Watch: Pickup & payments

Payments

At Autozen, we make sure you feel secure and confident when selling your car. You'll get your full payment in your bank account before we take your car. Your peace of mind is our priority.
 
We want to reassure you that you will receive the full payment in your bank account at the time we pick up your car and our agent will ensure you recieve the full amount before departing with you car.
 
Instant Direct Deposit
 
 Get paid instantly with Direct Deposit! Your full payment will be in your bank account before our agent leaves with your car.
 
 For the Instant direct deposit to your bank account, all we need is your email address and a copy of your VOID Cheque or a Direct Deposit Form.
 
 Even if your bank or credit union isn't part of the Instant Direct Deposit Interac network, we'll still deposit the funds via Interac email e-transfer. No need to worry about e-transfer limits – we can transfer the full amount. Your peace of mind is our priority.
 
Why do we ask for your VOID Cheque or Direct Deposit Form?
 
  • Payment Verification: We use it to ensure we're sending your payment to the right bank account under the vehicle's registered owner's name.
  • Payment Record: The VOID Cheque provides a transparent record of the payment's destination and the linked bank account, which is essential for accurate record-keeping and auditing purposes. Your trust and security matter to us!

 

Bank Deposit Information

We have built a safe and secure system for you to provide us with your bank account information via your Autozen account. 

As soon as you submit your bank account information, our system will automatically send you a verification payment of $.05 with a 6-digit verification code. It takes the bank system about 4 to 6 hours before you can see the deposit and the code in your bank account.

Monday - Thursday after 3:45 pm PST

If you submit your bank account details after 3:45 pm PST, you will only receive and see the $.05 verification deposit and the 6-digit verification code until the following day morning.

Friday after 3:45 pm PST

If you submit your bank account details after 3:45 pm PST on Friday, you will ONLY receive and see the $0.05 deposit and the 6-digit verification code in your bank account first thing Monday morning, as banks don't handle these payments over the weekend. 

Saturday and Sunday  

If you submit your bank account details on a Saturday or Sunday. You will ONLY receive and see the $0.05 deposit and the 6-digit verification code in your bank account first thing Monday morning, as banks don't handle these payments over the weekend. 

However, you have nothing to worry about if your pickup is scheduled after 3:45 pm on any day; we are able to transfer the funds into your bank account. 

Why can I not see my 6-digit verification code?

Some Banks and Credit Unions including RBC, ONLY post the 6-digit code 4-6 hours after the deposit. The code will be posted and you will able to see it on the deposit description line.


Pick up

We aim to complete the pick-up in 1-3 days after accepting your offer unless you’ve notified us otherwise.

Our team will prepare all the official paperwork for you.

You will be sent instructions via email on your next steps that include how you’ll receive payment for your vehicle as well as information on how your car loan will be paid out (if you have one that is). 

There is no charge for the pickup, your vehicle’s buyer will cover the pickup fees.

After you have decided on your preferred method to receive payment, we will arrange for an Autozen agent to pick up your vehicle right from your home or location of choice, along with all sets of keys and tires plus other essential items that were listed as a part of the transaction to be delivered to the buyer.

Watch: Pickup & payments 

Selling with Autozen is simple

Forget the complexity and we’ll take care of everything to sell it on your behalf.