Guaranteed Minimum Buyback
Terms and Conditions, and the Fair Wear & Tear Guidelines used when a vehicle is returned.
These Guaranteed Buyback Terms and Conditions (“GBB Terms”) apply to an eligible vehicle purchased from Car Depot, 44-46 Bardia Avenue, Seaford VIC 3198 (“Car Depot”, “we”, “us”, “Guarantor” or “Seller”).
A plain-English summary of this program is available on the Guaranteed Buyback page. Where that summary and these terms differ, these terms apply.
1. Guaranteed Minimum Buy Back
Subject to these Terms and Conditions, Car Depot agrees to provide the purchaser/registered owner of an eligible vehicle (“Buyer/Owner”) with a minimum guaranteed buy back amount (“GMB Amount”) if the vehicle is returned to Car Depot within the applicable period. The GMB is available for a maximum period of 60 months from the original date of purchase. The GMB amount is calculated using the original purchase price of the vehicle excluding on-road costs and in accordance with the guidelines set by The Australian Taxation Office.
2. Guaranteed Minimum Buyback Amount
Subject to the vehicle satisfying these Terms and Conditions, including its condition at the time of return, the minimum GMB Amount will be:
| Within 12 months of purchase* | 65.63% of original purchase price |
|---|---|
| After 12 months but within 24 months* | 56.25% |
| After 24 months but within 36 months* | 46.88% |
| After 36 months but within 48 months* | 37.50% |
| After 48 months but within 60 months* | 28.13% |
| After 60 months* | GMB expires |
*The depreciation model is based on the vehicle travelling no more than 15,000km per annum. An additional .25c per km will be charged over and above the 15,000km per annum threshold.
*For the purposes of calculating the GMB Amount, the original purchase price excludes all on-road costs, including but not limited to registration, transfer fees, stamp duty, insurance, finance costs and other government or third-party charges.
3. Finance and Clear Title
At the time the vehicle is returned, the Buyer/Owner must provide clear and unencumbered title to the vehicle, free from any finance, security interest or other encumbrance. If finance remains owing on the vehicle, any outstanding amount must be discharged as part of the buyback process. Where the outstanding finance exceeds the applicable GMB Amount, the Buyer/Owner must pay the difference necessary to fully discharge the finance and remove any security interest recorded against the vehicle. Car Depot is not required to complete the buy back until satisfactory evidence has been provided that all finance and security interests can be fully discharged.
4. Vehicle Condition
The GMB Amount is subject to the vehicle being returned in a condition reasonably consistent with its age, kilometres travelled and normal use. Car Depot may inspect the vehicle before completing the buyback. The vehicle must not have suffered significant accident damage, structural damage, flood damage, fire damage or other material damage that adversely affects its condition, safety, value or ability to be resold. The vehicle must be returned with all keys, service books, owner's manuals and other equipment supplied with the vehicle at the original date of purchase, where applicable. Any damage, missing items or condition outside reasonable wear and tear may affect eligibility for the GMB or the amount payable.
5. Aftermarket Accessories and Modifications
If the Buyer/Owner fits aftermarket accessories or makes modifications to the vehicle after purchase, Car Depot may, at its discretion, decline to buy back the vehicle under the GMB. If Car Depot agrees to buy back a vehicle that has been fitted with aftermarket accessories or modifications, the GMB Amount will continue to be calculated solely on the original purchase price of the vehicle. No additional amount or allowance is guaranteed for aftermarket accessories, modifications or improvements, regardless of their purchase price or installation cost. Car Depot may also require an accessory or modification to be removed or the vehicle returned to its original condition before accepting the vehicle under the GMB.
6. Ownership and Eligibility
The GMB applies only to the vehicle identified in the original Car Depot sales documentation and is subject to these Terms and Conditions. The person seeking to exercise the GMB must demonstrate that they have legal authority to sell and transfer clear title to the vehicle. The vehicle's VIN and identifying details must correspond with the vehicle originally sold under the GMB arrangement. The GMB is not transferable if the vehicle ownership has been transferred to another party.
7. Inspection and Verification
Before accepting the vehicle under the GMB, Car Depot may conduct or arrange an inspection of the vehicle and verify matters including:
- Vehicle identity and VIN;
- Ownership and registration;
- PPSR/security interests and outstanding finance;
- Kilometres travelled;
- Vehicle condition;
- Accident or repair history;
- Service and maintenance history;
- Aftermarket modifications or accessories; and
- Whether the vehicle otherwise complies with these Terms and Conditions.
The buy back will not be completed until Car Depot is reasonably satisfied that the vehicle meets the applicable GMB requirements.
8. Payment
Once the vehicle has been inspected, accepted and clear title can be transferred to Car Depot, the applicable GMB Amount will be applied to any outstanding finance requiring discharge, with any remaining balance payable to the Buyer/Owner. Where the amount required to discharge outstanding finance exceeds the GMB Amount, the Buyer/Owner must pay the shortfall before or at settlement.
9. Expiry
The Guaranteed Buy Back automatically expires 60 months from the original date of purchase. A vehicle presented after the expiry of the 60-month period will not qualify for the GMB Amount. Car Depot may still offer to purchase or trade the vehicle at its then-current market value, but any such offer will be separate from the GMB.
10. Australian Consumer Law
These Terms and Conditions do not exclude, restrict or modify any rights or remedies that cannot lawfully be excluded, restricted or modified under the Australian Consumer Law or other applicable legislation. The Guaranteed Minimum BuyBack is an additional contractual benefit and does not replace any statutory rights the Buyer/Owner may have.
11. General
The GMB applies only in accordance with these written Terms and Conditions and any specific GMB details recorded on the applicable vehicle purchase documentation. Any variation to the GMB must be agreed to by Car Depot in writing. If any provision of these Terms and Conditions is found to be invalid or unenforceable, the remaining provisions will continue to apply to the extent permitted by law.
12. Contact Details
Alfie Automotive Trading As / Car Depot - LMCT 11553 - ABN 36 605 778 774
- 44-46 Bardia Avenue, Seaford VIC 3198
- Phone: (03) 8760 0076
- Email: info@cardepot.au
- Website: cardepot.au
Fair Wear & Tear Guidelines
A practical guide to the condition standards used when assessing a vehicle returned under Car Depot's Guaranteed Buyback program.
1. Understanding fair wear and tear
Fair wear and tear is the level of deterioration reasonably expected from a vehicle that has been properly used, maintained and cared for. Damage caused by neglect, misuse, poor-quality repairs, missed servicing or failure to maintain the vehicle is not considered fair wear and tear.
The vehicle should be presented clean enough for Car Depot to inspect the paintwork, body, glass, wheels, tyres, interior and mechanical condition. Where an item falls outside the acceptable standard, the owner may be given the opportunity to have it professionally repaired before the buy back assessment is finalised.
2. Maintenance and servicing
- Service the vehicle in accordance with the manufacturer's recommended schedule. Use approved parts, fluids and lubricants.
- Keep the service history, warranty information and vehicle documentation with the vehicle.
- Mechanical damage arising from neglect or misuse - including severe brake, engine, clutch or transmission damage - is not fair wear and tear.
3. Keys, security and equipment
- Return the full set of keys supplied with the vehicle, including the master key and any required key fobs. Factory security systems must remain intact and operational.
- Remove non-standard advertising, labels or accessories where required and professionally rectify any resulting holes, fading or damage.
- All standard equipment and any fittings/options supplied with the vehicle should be returned with it.
- Missing keys, equipment or damage to security systems may affect the Guaranteed Buy Back assessment.
4. Vehicle exterior
The following standards are intended for normal passenger-vehicle use. Age, kilometres travelled and the type of use will be considered when the vehicle is inspected.
| Area | Generally acceptable | Generally unacceptable |
|---|---|---|
| Paint & body | Light scratches up to 25 mm that do not expose bare metal; minor stone chips; minor dents where paint is intact; minor touch-ups or flaking. | Dents over 20 mm; multiple dents on one panel; scratches over 25 mm or deep abrasions; rust; hail damage; buckling/distortion; poor repairs; colour mismatch; major flaking; damage from bird/tree droppings. |
| Bumpers, mouldings & trims | Limited everyday scuffing or light score marks where the component is not cracked, broken or deformed. | Cracks, gouges, holes, major dents/distortion, or missing mouldings, grilles, bumpers or mudflaps. |
| Glass & lamps | One or two minor chips outside the driver's field of vision; light peripheral windscreen marks; professionally repaired minor chips where roadworthy. | Cracks; major chips; damage in the driver's field of vision; broken/non-operational headlights or lenses. |
| Badges, labels & decals | Factory badges and labels intact. | Missing badges; painted advertising; damage, fading or holes caused by attaching or removing decals/accessories. |
5. Vehicle interior
| Area | Generally acceptable | Generally unacceptable |
|---|---|---|
| Upholstery & trim | Normal wear and light soiling from everyday use; minor scuffing to door, sill and luggage-area surfaces; light surface marks in the luggage area consistent with normal use; repairs that are professionally completed and not readily visible. | Burns, tears, holes, cuts or permanent staining; split/torn trim panels, floor coverings or linings; damage to seat structures, controls, seals or fittings; missing controls/accessories or holes left after accessory removal. |
6. Vehicle underside
| Area | Generally acceptable | Generally unacceptable |
|---|---|---|
| Underside | Minor stone-related dents or deformation without major corrosion; exhaust securely mounted and operating correctly; minor oil misting around seals or gaskets where there are no active drips. | Significant chassis distortion, active oil leaks, damaged exhaust systems, poor repairs or significant impact damage. |
7. Wheels, wheel trims and tyres
| Area | Generally acceptable | Generally unacceptable |
|---|---|---|
| Wheels & tyres | All wheel trims present and intact, with only minor scuffing from normal use. | Bent or damaged wheels/rims, unroadworthy tyres, sidewall or tread damage from kerbing or misuse, mismatched tyres/wheel trims, or missing/damaged spare wheel, jack or mudflaps where originally supplied. |
8. Quick return-condition checklist
- Vehicle is clean and available for a proper inspection.
- Servicing is up to date and service/warranty records are available.
- All keys and security fobs are present and working.
- All original equipment, tools, spare wheel and jack are present where supplied.
- Tyres are roadworthy and wheels have no significant damage.
- Glass and lamps are roadworthy and operational.
- Interior has no burns, tears, permanent stains or missing controls.
- Body has no major scratches, dents, hail damage, rust or poor repairs.
- Underbody and mechanical components show no evidence of neglect, leaks or significant impact damage.
- Non-standard decals/accessories have been removed where required and any resulting damage professionally repaired.
- Personal information has been deleted from the vehicle's navigation/infotainment systems before return.
9. Assessment outcome
Car Depot will assess the returned vehicle against these guidelines and the applicable Guaranteed Buy Back Terms & Conditions. Where unacceptable wear, damage, missing equipment or maintenance issues are identified, the owner may be asked to rectify the item at their cost. If it is not rectified to the required standard, the Guaranteed Buy Back amount may be adjusted in accordance with the applicable agreement.