Reserve It! Consumer Terms and Conditions
These terms(these "terms") govern the Reserve It! (vehicle deposit) product, it's features and your use, as a consumer, thereof. If you do not understand the terms or need clarification on the terms, please reach out to AutoTrader support HERE. By using the Reserve It! Product, you expressly agree to observe and be bound by these terms.
You acknowledge and agree that Trader Corporation reserves the right to amend these terms at any time by posting amendments on the AutoTrader website at: www.autotrader.ca/reserve-it-terms-conditions. By using the Reserve It! Product, you undertake to observe and comply with any new update or modification to these terms.
Deposits and the Use of Deposits
For the purpose of these terms, a "deposit" is a payment made by you to a motor vehicle dealer ("dealer") that shows such dealer you intend to purchase a vehicle from them. The value of the deposit required to be made will be an amount between Fifty Dollars ($50.00) and One Thousand Dollars ($1000.00).
When you place a deposit on a vehicle, and once the relevant dealer has accepted the deposit, your deposit may be used by the dealer to do some or all of the following:
- Hold the vehicle for a dealer defined period (such period is typically 3 days, provided that each dealer maintains the ability to determine the applicable hold period in their sole discretion);
- Bring the vehicle in from another dealer;
- Bring the vehicle directly from a manufacturer; and/or
- Arrange financing for the vehicle.
For certainty, dealer will not deduct the costs of such actions from your deposit without your written consent, and then only in accordance with applicable law.
When the dealer is using the deposit to hold a vehicle for a specified amount of time, that amount of time will be clearly displayed to you; specifically, you will be shown the relevant period of time on the deposit screen used to place the deposit and will also be sent an email confirmation for your records.
The Deposit Process
Placing a deposit on a vehicle does not trigger the commencement of the purchase process; rather, it is a display by you, as the consumer, of a substantial interest in the purchase of the relevant vehicle.
When you place a deposit on a vehicle, dealer must manually accept that deposit within 7 calendar days from the time the deposit was made. Where dealer does not accept the deposit within the aforementioned time period, or where you no longer wish to proceed with the purchase of the relevant vehicle, the deposit monies will be remitted to you by the relevant dealer and you will not be charged any amounts or fees as a result thereof.
By accepting a deposit, dealer creates a written and legally binding record of deposit and acknowledges and agrees that the vehicle on which the deposit is made is available for purchase at the time of deposit acceptance.
When dealer indicates that the vehicle is available for deposit("enabled for Reserve It!"), dealer does so to the best of their knowledge. Dealer does not guarantee that the vehicle will still be available for purchase when you place a deposit.
Where a dealer has accepted a deposit from you for a vehicle that is subsequently marked as sold or otherwise marked unavailable, such deposit will be cancelled by the dealer, returned to you by the relevant dealer and you will not be charged any amounts or fees as a result thereof.
If a vehicle is "deal pending" you may be given the option to join a waiting list. Joining a waiting list is not a guarantee in any way that you will be given the opportunity to purchase the vehicle should it be re-instated onto the marketplace (as such term is defined below). For the avoidance of doubt, you shall not be required to place or submit a deposit in order to join a waiting list.
Dealer will not accept a deposit on a vehicle that is not the vehicle that you placed a deposit on using the AutoTrader marketplace("the marketplace") and may not, for the avoidance of doubt, apply such deposit to any purpose in relation to any other vehicle.
Trader Corporation is utilizing a third party("Stripe Inc.") to perform the processing of payments and deposits made by you and therefore you may be subject to Stripe Inc.'s terms and conditions in addition to these terms.
You will receive an email notification with the details of any deposit you make, including the vehicle information and relevant dealership contact information.
Disclaimer and Limitation of Liability
You agree that Trader Corporation will not be responsible or liable for any of the following:
- Outages to the payment processing platform and any potential material and immaterial losses associated with those outages and experienced by you.
- Mediating or participating, in any manner, in any dispute arising between you and a dealer relating to a deposit.
- The accuracy or inaccuracy of information associated with the vehicle (always confirm with the dealer accuracy of information).
- Any losses or fees experienced by you and associated with international money transfers and currency conversion fees (when applicable).
- Any losses, material or immaterial, experienced by you and associated with Stripe Inc. changing or dropping certain payment methods available.
- The return or remittance of a deposit made by you.
- Any losses or damages experienced by you as a result of or relating to your use of the Reserve It! product.
YOU HEREBY ACKNOWLEDGE AND AGREE THAT IN NO EVENT SHALL TRADER CORPORATION'S TOTAL LIABILITY TO YOU FOR DAMAGES OR CLAIMS IN ANY WAY RELATING TO THESE TERMS OR THE RESERVE IT! PRODUCT, REGARDLESS OF THE LEGAL OR EQUITABLE THEORY USED, EXCEED ONE HUNDRED DOLLARS ($100.00) IN THE AGGREGATE.
Trader Corporation does not provide any warranties and the Reserve it! product is provided to dealers and consumers, including you, "as is", without any express, implied, or statutory warranties of title, merchantability, fitness for a particular purpose, noninfringement, or any other type of warranty or guarantee. No data, documentation or any other information provided by Trader Corporation or obtained by you from or through the services – whether from Trader Corporation, Stripe Inc. or another affiliated entity, and whether oral or written – creates or implies any warranty from Trader Corporation to you.
As per the rules and regulations of Motor Vehicle Industry Associations of Ontario, Alberta, British Columbia and Manitoba:
- Dealer should never ask for a deposit on a vehicle as a condition of a test drive or vehicle inspection by a consumer.
- If you purchase the vehicle on which you placed a deposit and dealer accepted that deposit, the relevant purchase invoice will clearly state and deduct the deposit amount from the original purchase price (itemized deduction) to the extent that the deposit or a portion thereof has not been used for any other purpose as authorized by you in writing.
By using the Reserve It! Feature, dealer acknowledges that Trader Corporation or Stripe Inc. can put any dealer's Stripe account in "frozen" (read only) mode at any time for a period of up to 3 weeks for the purpose of an audit or when there is suspected fraud activity. You acknowledge that Trader Corporation shall not be liable for any damages or losses experienced by you as a result thereof.
It is dealer's responsibility to keep their marketplace address and contact information up to date and Trader Corporation assumes no responsibility or liability for the accuracy of such information.