Green Light
An auction designation indicating a vehicle has passed the auction's inspection and meets quality standards. Green light vehicles often come with limited arbitration guarantees.
Definition
An auction designation indicating a vehicle has passed the auction's inspection and meets quality standards. Green light vehicles often come with limited arbitration guarantees.
Related Terms
Arbitration
The process of resolving disputes between auction buyers and sellers, typically regarding undisclosed vehicle defects or condition report inaccuracies.
As-Is
A sale condition where the vehicle is sold without any warranty or guarantee. The buyer assumes all risk for the vehicle's condition.
Condition Report (CR)
A detailed inspection report provided by the auction house documenting a vehicle's condition, including mechanical, structural, and cosmetic assessments.
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