Fees

Auctions

Buying at auction

There is no charge to browse, follow or bid. If you do not win, you pay nothing.

If you win, LMNM charges a Service Fee of 5% of the winning bid, with a minimum of $250 and a maximum of $7,500. On a winning bid above $150,000 the Service Fee stays at $7,500.

How it is paid: LMNM charges the Service Fee to your saved card automatically when the auction ends. If that charge does not go through, we tell you, and you have 24 hours to pay it from the auction page.

LMNM does not collect the money for the car. When the auction closes, the buyer and seller are introduced on LMNM and complete the sale between themselves.

Bids are binding. Have your funds or financing lined up before you bid.

Auctions

The $250 hold

When you place your first bid on a vehicle, a hold of $250 is placed on your card.

• It is an authorization, not a payment. LMNM does not collect it and it never becomes money we hold. Your bank or card issuer will usually reduce your available balance by that much while the authorization stands, the way a hotel or a fuel pump does.
• LMNM holds it for as long as that auction runs - including when late bids extend the end - and releases it if you do not win. The authorization itself sits with your card issuer and has its own window, usually about a week; on a long auction it can lapse before the auction finishes, and LMNM takes a new one rather than letting your readiness to bid lapse with it. You may see more than one listed while only one is in force.
• Once LMNM releases it, how soon your available balance goes back up is your bank’s decision. It is often the same day and can take several business days. If it has not cleared after a week, write to billing@lowmilesnomiles.com and we will send you the release reference to give them.
• It is not part of the Service Fee and is not a payment toward the vehicle. If you win, the Service Fee is a separate charge after the close.

Auctions

If a payment does not go through

If the automatic charge of the Service Fee does not go through, you have 24 hours to pay it: add a card in your account if you need to, then pay from the auction page.

Nothing happens automatically after that. The LMNM team is told straight away, and a person decides what happens next and gets in touch. The car is not re-awarded, relisted or canceled by a timer.

Classifieds

Buying a classified

No buyer fee. A classified is a private sale between you and the seller: you agree the price with them and pay them, not LMNM. There is no Service Fee, no hold on your card and nothing to settle with us.

Messaging the seller, following the car and saving a search are free, and so is an account. How to buy safely.

Selling

• When you send the car in, LMNM places a temporary authorization for your package on your card; nothing is charged unless LMNM approves the listing. LMNM captures it only if the listing is approved, and aims to review within 72 hours (a target, not a promise). If LMNM declines the car, or you withdraw it before approval, the authorization is released and you pay nothing. If LMNM asks for changes, the authorization stays in place while it is valid and sending the car back costs nothing more. If it runs out before LMNM decides, you are asked to authorize again: LMNM never charges your card later without you.
• Every package runs the listing for 60 days. Featured runs for 30 of them and starts the day the listing goes live, not while it is waiting for review.
• Packages that include a CARFAX Report are not offered at the moment.

Featured for 30 days

$99 for 30 days, on its own, for a listing that is already live. It is charged to the card on your account when you confirm, and its 30 days start as soon as the payment goes through; a listing with fewer than 30 days left is extended so none are lost. A featured listing sits in the featured strip on the homepage and at the top of its category’s default order for 30 days.

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Free.

Auction seller fee

No reserve: free. A no-reserve auction that reaches its close sells, and the winning bidder pays the Service Fee above, so LMNM charges the seller nothing to list one. Reserve: $99, once LMNM accepts the car. Some dealer plans, and some LMNM promotions for dealers, include Reserve seller-fee waivers. When LMNM accepts a Reserve auction from such a dealership, a waiver is applied automatically if one is left for that period, and it shows on the dealer dashboard and on the auction’s fee line. LMNM may waive the Reserve seller fee in its discretion.

Dealers

Pay per listing: $49 per vehicle, for 60 days, for an approved dealer without a plan, or as an extra listing for a specific vehicle when a plan’s live places are full. Monthly plans, sized by how many of your vehicles are live at once: Starter, Growth, Pro and Group are bought online from Billing on the dealership dashboard and renew each month until canceled, and Enterprise is by agreement. The plans are on the dealers page, which has each plan’s exact numbers. With an active plan you can buy an extra listing for a specific vehicle ($49 for 60 days) to keep it live when your plan's live vehicles are full. It covers that vehicle only, for its paid term, and is not a reusable slot. Included Featured placements and Reserve auction seller-fee waivers are use it or lose it: they expire at the end of their period, have no cash value, cannot be transferred and do not roll over. A waiver applies only when LMNM accepts one of your Reserve auctions, and LMNM does not guarantee that it will.

Questions about a specific car? auctions@lowmilesnomiles.com. Questions about a charge? billing@lowmilesnomiles.com.

Related

Buying on LMNM · Selling on LMNM · How bidding works · Buying and selling safely