Terms & conditions for selling cars by auction
- In order to bid, an amount of SAR 5,000 must be deposited in Lumi’s bank account.
- The bidder is responsible for inspecting the cars within the specified time before submitting their bids online on the auction website.
- The auction results and the winners are determined after the Lumi administration's approval.
- The auction winners must transfer the bid amount for the vehicle to Lumi’s account within 24 hours, and a copy of the transfer receipt must be uploaded on the website. If the car is being received on behalf of someone else, then an authorisation letter on the official letterhead will need to be presented at the time of collection.
- After making the payment for the vehicle, the car must be collected immediately and on the same day, after which the buyer will bear the fees for transporting the car from the warehouses.
- If the buyer refuses or delays the payment of the total amount or withdraws as the auction winner, a penalty will be applied as follows:
For the first time SAR 1,500, for the second time SAR 2,000, and for the third time SAR 3,000 will be charged for one car and the buyer will be prohibited from entering the next auction. - The buyer must sign the sales contract or transfer authorisation to receive the vehicle registration after confirming the payment.
- The cars sold must be registered in the TAMM system under the buyer’s name before handing over the vehicles and the sales contract.
- The car can only be used once the ownership is transferred from the company's name to the buyer's name
- The buyer has the right to return the car within 24 hours from the date of purchase only if a defect (defects) is found.
Defects due to which the car can be returned:- A cut in the chassis which prevents it from passing the periodic inspection.
- The car engine is not working.
- Transmission is not working.
Relevant documents or reports need to be submitted to support the claim. - The buyer must transfer ownership of the vehicle within 10 days from the date of purchase and submit a copy of the transfer certificate (for car showrooms only, otherwise the car will not be delivered to the buyer until ownership is transferred). Ownership transfer, periodic inspection, and insurance costs are borne by the buyer.
Fine for not transferring ownership:- If the vehicle ownership is not transferred within 30 days, it will result in a fine of SAR 500 every month for each car.
- If vehicle ownership is not transferred within 90 days, the buyer will be blocked from further participation in future auctions and a report will be submitted to the official authorities to take legal action.
- The buyer is fully responsible for the car in the event of an accident or any legal accountability that may occur before the transfer of ownership from Lumi to the buyer.
- The security deposit is refundable once all fees and formalities are settled and the ownership is transferred for all purchased vehicles.
- Lumi reserves the right to cancel or postpone any auction without any reason or remove any vehicle from the auction list.
- Lumi reserves the right to reject or void bids for any reason, and it is Lumi’s sole and absolute discretion.
- If the payment for the car is not completed within 24 hours, Lumi has the right to repossess the car and confiscate the deposit.
- Inspecting the car is the responsibility of the buyer. The buyer must also ensure that the correct bid price is submitted on the website, and Lumi is not responsible for any mistakes. It is important to note that the bid price excludes 15% value added tax (VAT).
- Cars are auctioned in their current condition with only one key, and Lumi is not responsible for any accessories not present in the vehicle.
