Welcome to Rocket Repos, an auction platform designed specifically for financial institutions to sell their repossessed vehicles.

Listed below are some key points to help you understand how Rocket Repos works.

1. Free Vehicle Listings

   - Only financial institutions can list their repossessed vehicles on Rocket Repos and its free. Simply create an account and provide details and photos about the vehicle you wish to sell.

2. Approval Process

    - Once a vehicle listing is submitted, our dedicated team will review it to ensure it meets our quality standards. This approval process helps maintain a trustworthy marketplace for all users.

3. Auction Begins

   - After approval, the vehicle will be placed in a live auction for seven days. During this time, potential buyers can place bids on the vehicle directly through the Rocket Repos platform.

4. Bidding and Winning

   - As the auction countdown progresses, buyers can monitor the bids and place their own. At the end of the seven-day period, the last bid placed before the timer runs out will be declared the winning bid.

5. Secure Payment Processing

   - Once the auction concludes, the winning buyer will be charged 5% of the final sale price immediately to their credit card on file. The maximum fee is $2500, and minimum fee of $250.

6. Information Exchange

   - After payment is processed, Rocket Repos facilitates communication by sending the buyer and seller each other’s contact information. This step is crucial for coordinating the final details of the sale.

7. Payment and Vehicle Delivery

   - Both the buyer and seller are responsible for arranging the payment, taxes, title transfer, and the delivery or pickup of the vehicle.