Escrow

How New England Auto Shipping Escrow Works?

New England Auto Shipping reduces the risk of fraud by acting as a trusted third-party that collects, holds and only disburses funds when both Buyers and Sellers are satisfied. Escrows are very useful in the case of a transaction where a large amount of money is involved and a certain number of obligations need to be fulfilled before a payment is released. Vehicles and Heavy Equipment are commonly high-value items, and the finalizing of the payment can often pose a high risk to the finances of all parties involved. Rather than relying on trusting a stranger to fulfill their verbal obligations, placing money in an escrow account while the item purchase settles completely eliminates any risk to the seller or purchaser.

The process of using New England Auto Shipping escrow service for your car, motorcycle, boat, RV or heavy equipment purchase couldn’t be simpler. Once the purchaser has chosen the item that they want to buy they will contact New England Auto Shipping to have the terms of the sale written up. These terms include, but are not limited to, the cost of the item and a period in which the purchaser can let the seller know if they are unhappy with any aspects of the item, this is an extra guarantee to the purchaser, provided by New England Auto Shipping, that if the item has any previously undisclosed faults, they will be within their rights to dispute the transaction.

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New England Auto Shipping takes several steps to protect both the Buyer and Seller against fraud

How Does New England Auto Shipping Escrow Service Protect Against Fraud?

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    Identity Verification

    We verify the identity of all sellers involved in the transaction.

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    Ownership Verification

    We verify the ownership of the items sold using our escrow service.

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    Funds Verification

    All payments by the Buyer are verified as "good funds" before the shipping starts.

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    Secure Shipping

    All shipments are made by Glezz Logistics to ensure the Seller shipped and the Buyer received the item.

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    Inspection Period

    If the item has any previously undisclosed faults, the Buyer has the opportunity to “Reject” and return the item during the Inspection Period, while the funds are still in escrow.

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Step 1.

Buyer and Seller agree to terms

Either the Buyer or Seller initiates a transaction. All parties agree to the terms of the transaction, which includes a description of the item, sale price and number of days for the buyer's inspection of the item.

Step 2

Buyer submits payment to New England Auto Shipping

The Buyer submits a payment by approved payment method to our secure Escrow Account, New England Auto Shipping verifies the payment, then the Seller is notified that funds have been secured “In Escrow”.

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Step 3

New England Auto Shipping delivers goods to Buyer

Upon receipt of Buyer’s funds, and funds verification, New England Auto Shipping starts the shipping of the goods and submits tracking information. New England Auto Shipping verifies that the Buyer receives the goods.

Step 4

Buyer accepts goods

The Buyer has a set number of days to inspect the goods and the option to accept or reject it. The Buyer accepts the goods.

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Step 5

New England Auto Shipping releases payment to Seller

New England Auto Shipping releases funds to the Seller from the Escrow Account

Escrow Account

When you make a transaction using New England Auto Shipping your funds are held in secured, non interest bearing trust account until the transaction is completed. This ensures that your transaction is protected against chargebacks, fraud or wrongly described goods.

Personal service behind every transaction

Our licensed and regulated services are also backed by our experienced and knowledgeable escrow officers. Our friendly escrow professionals are available to assist you personally with any need that may arise. That being the reason, that our Bank accounts are handled by our Escrow officers. At New England Auto Shipping, we offer live phone support Monday through Friday, from 9:00 am to 9:00 pm and Saturday 9:00 am to 7 PM Eastern Daylight Time. In addition, we offer email support 24 hours a day, 7 days a week.

Why should we pay online?

With dozens of other payment options available such as checks, drafts, money orders, and electronic bank transfers, one may wonder why so many people use this new method of payment. Indeed, the older payment methods are tried, tested, and a lot more comfortable for some people. However, online payment offers exclusive advantages that other payment options don’t. When paying online, you can easily buy an item, basically anywhere in the world, much faster than the check-and-stamp method. Automated payments also mean that there are no delays or late penalties. Contrary to popular belief, it is much safer to conduct your transaction online as everything is documented, and there are no sensitive details on paper. Online payment eliminates clutter by, in some cases, eliminating the need for paper bills that require filing. It makes organizing and keeping track of payments easier and more convenient. Finally, if using online payments, many banks will provide graphs and information that help you track your spending and keep your budget on task. There are many types of transactions that can be made online, everything from paying your phone bill to purchasing small gifts for family members. For larger transactions, though, you may want to seek the services of an escrow company. By putting your money into an New England Auto Shipping’s escrow account, you can protect yourself from fraud.

Payment Options

New England Auto Shipping offers many types of payment options including wire transfers, checks and money orders, credit cards, PayPal and cryptocurrency. Payment types may have certain limitations, however. For example credit cards and PayPal are subject to additional fees and have a maximum of $5,000 while checks and money orders have a $2,000 maximum and are subject to a ten business day hold.

Advantages of using New England Auto Shipping

New England Auto Shipping provides a host of advantages for people who choose to transact with it. Whether it is a car, motorcycle, boat, RV or heavy equipment, New England Auto Shipping ensures that all buyers and sellers are protected equally and their disputes dealt with the utmost concern. New England Auto Shipping verifies the funds sent by the buyer and keeps them in our secure trust escrow account for the seller. We ship the merchandise only after the buyer has made complete payment to New England Auto Shipping. New England Auto Shipping ships and tracks your merchandise to make sure that it is delivered in time according to the conditions mentioned in the agreement. The seller is not paid until the buyer accepts the merchandise and has the chance to fully inspect it. After the buyer inspects and accepts the merchandise, the funds will be moved from New England Auto Shipping’s escrow account to the seller’s account. Using a licensed escrow service to buy and sell merchandise, services and more is the most convenient way to complete transactions online. Facilitated by a trusted third-party, the escrow process acts as your personal tool to ensure a safe, secure and intuitive sale for both buyers and sellers.

How does New England Auto Shipping Escrow Service protect against fraud?

New England Auto Shipping takes several steps to protect both the Buyer and Seller against fraud: – We verify the identity of all sellers involved in the transaction. – We verify the ownership of the items sold using our escrow service. – All payments by the Buyer are verified as “good funds” before the shipping starts. – All shipments are made by New England Auto Shipping to ensure the Seller shipped and the Buyer received the item. – If the item has any previously undisclosed faults, the Buyer has the opportunity to “Reject” and return the item during the Inspection Period, while the funds are still in escrow.

More Frequently Asked Questions:

New England Auto Shipping Escrow Service may be used for transactions involving the sale of most motor vehicles and heavy equipment. We are ideal for high-priced vehicles, boats, farm or construction equipment (above $10,000 USD), also when Buyer and Seller have no prior understanding. We’re often used for purchases on auction sites, classified ad sites, business-to-business e-commerce sites, and online merchants.

No. Using our escrow service you agree to ship the item only using our shipping service. This way we can be in full control and accurately track when the Seller ships the item and the Buyer receives the item.

During the agreement of terms, the Buyer and Seller agree as to who will pay for shipping. If the Seller is paying the shipping, the cost does not need to be added to the transaction. If the Buyer is paying the shipping cost, the Seller can add the cost to the transaction. New England Auto Shipping will collect the shipping cost along with the purchase price and any portion of the escrow fees due from the Buyer. The Seller will initially pay the shipping directly, at the time of shipment; the Seller will be reimbursed the shipping cost at the close of the transaction.

Buyer always pays the Escrow Fee. The fee will be added to the upfront or initial payment from the Buyer and it will be displayed on the invoice provided by New England Auto Shipping.

The Inspection Period begins when the Buyer marks the item as received or when New England Auto Shipping Escrow Department receives confirmation that the item, has been delivered.

If the Buyer rejects an item because it wasn't described completely accurately, the seller is responsible for covering the cost of shipping. If the Buyer decides to “Reject” the item with no real arguments, the Buyer is responsible for covering the cost of shipping.

At the start of the transaction, the Buyer and Seller will need to set the terms of their transaction to include an Inspection Period. The Inspection Period is the period of time the Buyer has to examine the item, once received. The Inspection Period can be set between 1-5 calendar days. During this time, the Buyer may examine the item after receipt, and the Buyer has the option to “Accept” or “Reject” the item. New England Auto Shipping only releases funds to the Seller once the Buyer accepts the products.

If the Buyer does not fund the transaction, it can cancel due to inactivity or either party may request cancellation. The Buyer's funds are secured by New England Auto Shipping before the shipping start, eliminating the concern of non-payment.

New England Auto Shipping requires the entire transaction amount to be deposited in escrow by the Buyer as one payment, unless multiple wires will be sent. The Buyer needs to contact the support department before sending multiple wires. Please note that failure to send the entire transaction amount including any agreed fees can result in the refusal of funds, delayed application of funds, and/or additional handling fees.

No, the Buyer must submit the entire amount of the transaction to New England Auto Shipping Escrow Account.

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