What is Settlement?

What is Settlement?

Settlement is the final—and most critical—step in an AutoSettle transaction. It’s the moment when everything aligns to enable the smooth and secure transfer of vehicle ownership between the Buyer and the Seller.

This process is guided by AutoSettle’s structured and secure Settlement Process.


What Happens During the Settlement Process?

AutoSettle coordinates the following key steps:

1. Agreement on the Settlement Price

The Buyer and Seller agree on a final Settlement Price for the vehicle.

2. Funding the AutoSettle Wallet

The Buyer funds their AutoSettle Wallet with enough money to cover:

  • The agreed Settlement Price

  • AutoSettle transaction fees

3. Completing Required Documentation

AutoSettle pre-fills necessary documents - such as the Notice of Disposal and Registration Transfer - in line with state and territory requirements.

Both parties may be asked to add further details. All documents are securely signed electronically via the platform.

4. Scheduling Settlement

The Buyer and Seller choose a Settlement date, time, and location for the vehicle handover.


On Settlement Day

The Buyer and Seller meet at the agreed location. Before the handover:

  • The Buyer must confirm that their AutoSettle Wallet has sufficient funds

  • The Buyer inspects the vehicle and verifies key details like:

    • VIN

    • Odometer reading

If the vehicle meets expectations, the Buyer confirms Settlement via the AutoSettle platform.

At that point, funds are transferred instantly from the Buyer’s AutoSettle Wallet to the Seller’s Wallet - no delays, no uncertainty.


Why Is Settlement Important?

Settlement provides:

  • Security: Verified identities and documentation protect all parties.

  • Efficiency: Instant payments and pre-filled documents save time.

  • Compliance: State registration requirements are handled correctly and securely.

AutoSettle’s Settlement process brings peace of mind and a professional experience to private vehicle sales.

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