Search Deposit Policy
At a Glance
No deposit is required to submit a request. If your request is approved, a Search Deposit is required before sourcing begins. The deposit is 20% of your stated budget and is applied as a credit toward the final purchase price. It is not a broker fee, consulting fee, or commission. Sourcing begins once your deposit is confirmed.
Payment Methods (after approval)
Deposit instructions are sent only after your request is approved. Accepted methods:
- ACH
- Zelle: zelle@autobito.com
- Wire
Example
- $10,000 budget → $2,000 Search Deposit (credited toward final purchase price)
- $7,500 budget → $1,500 Search Deposit (credited toward final purchase price)
- $15,000 budget → $3,000 Search Deposit (credited toward final purchase price)
Refund Schedule
| Stage | Refund |
|---|---|
| Before sourcing begins | 90% refundable (10% administrative processing fee retained) |
| After sourcing begins and a shortlist is produced | 50% refundable |
| After you approve a target vehicle and acquisition steps begin | 0% refundable |
| If we cannot produce qualified matches within the agreed timeline | you may extend the search or cancel for an 80% refund |
Acknowledgment
All refund terms must be acknowledged in writing before payment.
Compliance Statement
AutoBito LLC is a licensed New York retail motor vehicle dealer (Facility ID 7128861). We are not a broker and do not act as a buying agent. We acquire vehicles for resale.
FAQ
What is the Search Deposit?
The Search Deposit is 20% of your stated budget. It is applied as a credit toward the final purchase price. It is not a broker fee, consulting fee, or commission.
Is the Search Deposit refundable?
Refunds depend on sourcing stage. Before sourcing begins, 90% is refundable. After a shortlist is produced, 50%. After you approve a target vehicle, 0%. If no qualified matches are found within the agreed timeline, you may extend or cancel for an 80% refund.
How do I pay the Search Deposit?
Payment instructions are sent after your request is approved. Accepted methods are ACH, Zelle (zelle@autobito.com), and wire transfer.