In an effort to improve consistency and clarity for Manheim facilitation locations, we implemented some changes effective March 30, 2015.
What changed?
Payment is still due on date of purchase, but there is now a 2% late fee on day six of aging. If payment is not received by 12:01am on day six of aging, a 1% late fee will be assessed. Buying privileges will continue to be suspended after day seven of aging.
How are aging days calculated?
Aging begins on the latest date of the following and is considered day one:
- Sale date
- Title received date
- Arbitration resolution date
Aging calculations are based on calendar days.
How much is the late fee?
- 2% of sale price plus buy fee, and any other charge added to the vehicle price (PSI, DealShield, etc).
- Minimum $5 and maximum $150
How do I avoid paying late fees?
- Pay at any Manheim location
- Pay remotely via ACH
These new terms provide you with clear and consistent information to better manage your payments and have a better experience with Manheim. If you have any questions, please contact the Manheim Credit and Collections department at your local auction location or call 1-866-626-4346 to speak to a Customer Care representative.
*Manheim facilitating auctions only. Not currently applicable at Mississippi and Massachusetts auctions
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