How it Works

payment

Payment Policy

The payment instructions will be provided after the buyer sign the Bill Of Sale.
The invoice will contain transaction information and further instructions on how to complete the payment.
The most used method of payment is Bank Wire Transfer.
  • Bank Wire Transfers are immediate, reliable, and safe.
  • Bank Wire Transfer offers security as both parties (Sender & Recipient) are automatically verified and identified by the Bank institution in the funds transfer process. To open a Bank account, the Bank institution will require Identity verification and proof of address. Legal institutions are involved in the verification process and that makes any transaction safer.
  • Bank Wire Transfer use the secure SWIFT network. The SWIFT network sets international standards for moving money between countries. Our Banking institutions are members, which means that money You transfer in the country or overseas is easily traced all the way from Your account to the recipient. SWIFT transfers use unique codes to make sure Your money ends up in the right place. Learn more about Society for Worldwide Interbank Financial Telecommunication (SWIFT).

Step by Step Process of How it Works

  1. The parties enter into the Escrow Agreement - Either the Buyer or Seller begins a transaction. After registering at Vehicle-Traders, all parties agree to the terms of the transaction.
  2. A randomly chosen Escrow Agent will open and manage a blocked Bank Account (the “Escrow Account”). After receiving and signing the Bill of Sale, an Invoice will follow with instructions on how to send and confirm the payment. The Buyer submits the payment using the approved method to our secure Escrow Account. Vehicle-Traders verifies the payment, the Seller is notified that funds have been secured 'In Escrow'.
  3. Vehicle-Traders ships the product to the Buyer - Upon payment verification, the Vehicle-Traders shipping department is authorized to send the product and submit tracking information. Vehicle-Traders verifies that the Buyer receives the product.
  4. Buyer accepts product - When the buyer receives the product, they have a number of days equal to the agreed-upon inspection period to inspect the product. If the product meets the requisite standard, the buyer informs Vehicle-Traders they have accepted the product. The predefined condition of the Sale & Purchase agreement is fulfilled.
  5. The buyer sends the required release notice to the Escrow Agent.
  6. Vehicle-Traders pays the Seller - Vehicle-Traders releases funds to the Seller from the Escrow Account.

Shipping & Inspection Policy

We usually ship with our own forwarding services. According to Vehicle-Traders selling policy, when using our own forwarding services, shipping fees are Seller's liability and will be deducted from the selling price. If we store it, then it means we can ship it.

Local inspections (viewing) are accepted only prior to having an active transaction in progress and based on a settled appointment. Customers must understand that an inspection appointment involves special processes (i.e. Stuff to answer questions, Technical Team assistance, equipment required for such processes, etc.) To schedule an inspection appointment, please contact us.

How do You receive Your refund?

  • Refund is given as Money Back
  • Refunds will be made through cash, credit card, cheque or Bank transfer depending on the payment method used at the time of placing the purchase.


Payments from the confort of your living room

With dozens of other payment options available such as checks, drafts, money orders, and electronic bank transfers, one may wonder why so many people use this new method of payment. Cryptocurrency payment offers exclusive advantages that other payment options don’t.

When paying online, you can easily use your credit card to process a transaction much faster than the check-and-stamp method. Online payment eliminates clutter by, in some cases, eliminating the need for paper bills that require filing. It makes organizing and keeping track of payments easier and more convenient. Finally, if using Cryptocurrency payments, many banks will provide graphs and information that help you track your spending and keep your budget on task. Check this page to find out more about How to Bitcoin.