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Buyback Guarantee Terms and Conditions


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Subject to the following, Car VX Limited agrees to pay the Customer the Customer's purchase price of the Vehicle if:
A. the CAR VX Vehicle History Report was provided prior to the purchase of the Vehicle;
B. the CAR VX Vehicle History Report reflects no major issues as part of the Vehicle Title history, but major issues actually exist.

DEFINITIONS

1a. Major issues - the vehicle was: junked or salvaged; dismantled, rebuilt or reconstructed; flood damaged; fire damaged; hail damaged; stolen, odometer exceeds mechanical limits; odometer was not actual mileage.
1b. Exclusions: salvage titles issued due to theft; damage disclosure documents. Other information that may reflect negatively on the vehicle, including but not limited to accident information, is excluded from CAR VX Buyback Guarantee unless expressly covered by the definition of "Major issues".
2. Customer - the person (other than a Dealer or Transferee) who ordered and paid for the Report prior to their purchase of the Vehicle.
3. Report/CAR VX Report- CAR VX Vehicle History Report.
4. Transferee- the purchaser of the Vehicle from the Dealer.
5. Vehicle- the vehicle to which the Report relates.

TERMS AND CONDITIONS

1. The Customer must have previously purchased the Vehicle and own the Vehicle at the time the claim is made. If the Vehicle is subject to a lien in an unpaid amount greater than the amount identified in item 8, this Guarantee only applies if the Customer pays Car VX Limited the difference.
2. The Customer must complete and submit to Car VX Limited an executed claim form and provide a complete copy of the Report. Any Dealer Customer must have obtained the Report prior to the purchase of the Vehicle.
3. The Customer must provide to Car VX Limited proof of ownership of the Vehicle in the form of the original bill of sale and a copy of any financial document proving the payment for the vehicle is completed.
4. The Customer must provide to Car VX Limited a copy of the Pre-Export Appraisal, certified by JEVIC or other Japanese licensed inspection organizations.
5. The Customer must deliver to Car VX Limited all ownership and registration documentation including, the certificate of registration, properly assigned by the Customer to Car VX Limited so Car VX Limited becomes the owner of the Vehicle.
6. If, prior to purchasing the Vehicle, the Customer knew, or had evidence, of the existence of any major issues for the Vehicle, the Guarantee does not apply.
7. Car VX Limited will pay a maximum of the purchase price of the Vehicle paid by the Customer.
8. If the purchase price of the Vehicle in item 7 exceeds the Average Market Price CAR VX Average Market Prices represent recent (last 3 months) export prices of the vehicles available for purchase in Japan to the buyers from overseas, as volumes allow. This information can be found inside a CAR VX Vehicle History Report under the “VEHICLE DETAILS” section to the right from the “Buyback Guarantee” section. at the time of the sale, Car VX Limited will pay no more than ten percent (10%) over the Average Market Price CAR VX Average Market Prices represent recent (last 3 months) export prices of the vehicles available for purchase in Japan to the buyers from overseas, as volumes allow. This information can be found inside a CAR VX Vehicle History Report under the “VEHICLE DETAILS” section to the right from the “Buyback Guarantee” section. at the time the Customer purchased the Vehicle.
9. The Buyback Guarantee will apply only if the Vehicle was manufactured not earlier than 10 years prior to the date the Report was run.
10. The Buyback Guarantee will expire the earlier of (a) the date the Customer sells the Vehicle or (b) one (1) year after the date of the first Report run by or for the Customer relating to the Vehicle.
11. Claims can be submitted to: Car VX Limited, UNIT 1109, 11/F, KOWLOON CENTRE, 33 ASHLEY ROAD, TSIMSHATSUI, KOWLOON, HONG KONG. Please include name, address, telephone number, email address, the chassis number of the Vehicle and a copy of the original report. The CAR VX Buyback Guarantee claim form can be obtained online or by writing to Car VX Limited at the address above.
12. Car VX Limited reserves the right to cancel the Buyback Guarantee program at any time, but pledges to honor all current and future Buyback Guarantee claims as long as they meet all of the Buyback Guarantee terms and conditions stated herein and the Report was run prior to Buyback Guarantee program cancellation.
13. The Buyback Guarantee will be governed by the laws of, and Customer consents to the exclusive jurisdiction of the courts of Hong Kong.
14. In the case of a major issue that satisfies the above, Customer represents, warrants and agrees that Customer has not sought compensation from any other party or entity for both the same Vehicle and for the same title brand(s) that would -- together with any remuneration received (or to be received) from Car VX Limited -- exceed the fair market value of the Vehicle.