DriveBid is a live trade-in automotive marketplace where you input information about your vehicle and participating dealers can give you an immediate cash offer for it or compete in a live, real-time marketplace and make bid offers to buy your vehicle. You choose how you want to sell your vehicle.
Submit information about your vehicle (we make it easy) and select whether you want a cash offer for your vehicle, right now, or whether you want dealers to compete with other dealers to purchase it. It's your choice. If you choose our live bid platform, you can watch - in real time - as dealers bid to buy your car. The live trade marketplace where dealers compete to buy your vehicle is open from 9:00 am - 5:00 pm in your time zone. Bidding will last one hour.
Dealer bidding lasts one hour.
You have 12 hours to accept or reject any of the offers that have been made on your vehicle. This gives you time to review the dealer's inventory, review inventory from other dealers, and/or compare offers to make the decision that's right for you. After 12 hours, the offers will no longer be valid and your vehicle will go back into your DriveBid garage. However, you can resubmit your vehicle at another time. No risk - all of the reward!
When you accept an instant offer or a live bid, we will notify you when the dealer has locked in his offer to you. At that time, you will receive an email and text notification confirming that your DriveBid BidLock(TM) Offer has been accepted. You will have up to 5 days or 500 miles, whichever comes first, to bring your vehicle to your DriveBid dealer location, in person, to complete the process. Depending on your preference, you will receive a check or trade-in credits to be applied towards the purchase of a new vehicle. It's up to you. You're in control of the process, and how you wish to sell your vehicle.
Simply put, DriveBid is the only trade-in platform that openly allows dealers to bid for your trade. When dealers compete for your vehicle, you win! Selling it yourself doesn't give you the competitive advantage. What DOES give you a competitive advantage is the ability to reach the DriveBid network of dealers who compete for your trade in one central location, with all the information necessary for dealers to give you the best offer. One of the biggest challenges of selling your car is the trade-in process. You no longer need to visit many different websites or dealerships to sell your vehicle. DriveBid is your one stop solution!
Your offer is good for 5 days or 500 miles, whichever comes first. It's your responsibility to get your vehicle to the buying dealer's location within this timeframe/mileage range.
That's fine. You don't have to sell it. If you change your mind, you can always resubmit your vehicle's information to DriveBid at a later time and try again. Remember, however, that the longer you keep your vehicle, the more it depreciates in value.
If you have the title in hand, and you arrive at the dealership to complete the DriveBid process, you should expect to receive a cashier's check for your vehicle that day. If you still owe money on your car, the dealer will need time to work with your financial institution for a direct payoff. If there is equity left over, you will work with your DriveBid dealer to cash out of the remaining equity. If there is negative equity, you will work with your DriveBid dealer to cover the remaining costs. If you decide to purchase a vehicle that's on the dealer's lot and use your DriveBid offer, you will work with the dealer to apply your offer towards the purchase price of the new vehicle. DriveBid does not get involved in the purchase of a new vehicle, nor any financial logistics with your trading in your vehicle. We simply connect you to dealers to get the most competitive offers.
Once you accept the dealer's BidLock(TM) offer, you will receive the dealer's contact information and ways to chat directly with your DriveBid dealer. We recommend you ask the dealer what paperwork you need. Each state has different rules and regulations when it comes to selling your car. Please reach out to your DriveBid dealer directly. Typically speaking, you will need your Driver's License, the vehicle's title, and any loan documentation to pay off the vehicle.
In certain situations, you may not receive an offer due to the age, condition or certain aftermarket accessories of your car - or there may not be a lot of DriveBid dealers in your market. If this is the case, continue to keep your vehicle in the DriveBid garage, as we will continue to provide you with the market value of your vehicle due to demand and other competitive insights. Having your car in the garage also gives you access to important warranty and recall information about your vehicle and competitive vehicle insurance offers - all for free! Continue to resubmit your vehicle for offers every 30 days.
You can reach one of our helpful support specialists at support@drivebid.com. We're standing by to help you with whatever you need.
