Built for Enthusiasts , inspired by transparency
TurboBid
Escrow Services
TurboBid provides secure escrow services, fostering confidence for both vehicle buyers and sellers in their transactions.
Funds are securely managed and held in our trust account at 
Once you initiate a transaction request with TurboBid, our escrow service ensures a seamless process. We perform KYC verification to accurately identify both buyer and seller, enhancing the safety of the transaction. We also check for any liens directly with Carfax nationwide and conduct a thorough TurboBid AI vehicle inspection during pickup and delivery. Once all conditions are met, we release the payment, providing a smooth and reliable experience.
We utilize TurboBid’s AI-driven damage inspection for escrow, including inspections at vehicle pickup and drop-off.
Buyer and Seller agree to terms
Buyer Submits payment to Turbobid
Seller delivers vehicle to buyer
Buyer approves the vehicle and accepts the agreement
TurboBid.ca releases payment to seller.
Enable Escrow for Any Vehicle , Any Marketplace
with any private seller.
Browse your favorite used car website with confidence. You can make payments to any seller on any marketplace, and our services cover all provinces and territories across Canada.
Inform your seller that you’d prefer to make an online payment and request them to add their vehicle to TurboBid. We’ll verify their ownership, ensuring you receive a clear title, even if there’s an existing loan.
No need to handle cash or verify bank drafts. Buyers can securely pay online through your payment link using their bank account. You’ll receive an email when it’s time to hand over the keys.
When you list your car on TurboBid, we provide a link for buyers to conveniently pay you online.
You can share your link with your buyer or post your car for sale on any platform you choose. Adding your link or QR code image to your ad can help safeguard against scams.
You won’t have to handle cash or verify bank drafts. Buyers can make their payment online using your secure payment link directly from their bank account. You’ll receive an email alert once it’s approved to hand over the keys.
Link a bank account to receive payments via direct deposit or by check. If there’s a loan on the vehicle, we’ll handle paying it off through TurboBid.
Direct Bank Transfer
Your buyer can securely pay for your car online, providing you protection from scams.
Risk of Cash
Cash can be counterfeit, lost, or stolen, and it's inconvenient to deposit.
No Bank Drafts
Bank drafts are frequently forged and require bank verification.
Identity Protection
Ensure the seller's identity is verified and verify the VIN to ensure the vehicle's authenticity, helping to avoid purchasing a stolen car that cannot be registered
Loan Protection
Turbobid instantly checks for undisclosed loans or liens that could affect registration.
Loan Protection: Turbobid instantly checks for undisclosed loans or liens that could affect registration.
Powerful Document & Identity Verification for
Streamlined Onboarding
Please capture a photo of your government-issued identity document along with a simple selfie. You can do this using either a smartphone or a web browser.
TurboBid guides you through the entire process with real-time feedback and automatically identifies the document type.This makes the process quicker and minimizes typing errors.
Take a simple selfie with clear lighting.
The data is securely analyzed and our AI-powered identity verification technology provides a decision in a matter of seconds.
TurboBid KYC enhances security measures to prevent fraud and maintain a safe marketplace environment.
Want To Ask
Anything?
TurboBid’s Escrow service ensures secure and transparent transactions by holding funds until project milestones are met. This protects both bidders and service providers, guaranteeing payment only upon successful task completion. Engage confidently with TurboBid’s trusted Escrow service
The fee for TurboBid Escrow is $199. If the vehicle has an outstanding loan, there is an additional $99 fee charged by TurboBid to handle the loan settlement during the sale.
Fees can be divided equally between parties or covered entirely by one. Our fee is due upon the completion of the transaction, and we do not impose any cancellation fees.
TurboBid employs advanced third-party identity verification technology to authenticate the identity of sellers. This process is followed by cross-referencing public records, seller-provided information, and records from the Ministry of Transportation to validate the seller’s ownership of the vehicle.
Our commitment to confidentiality is paramount: we do not share the seller’s personal information with the buyer, nor do we disclose the buyer’s personal details to the seller. However, upon the completion of a sale, the buyer will receive the current title document, which includes the seller’s name and address.
The Escrow process on TurboBid works by holding funds securely until both the buyer and seller fulfill their obligations in the transaction. This ensures that both parties are protected during the exchange of goods and payment.
TurboBid’s Escrow service accepts bank transfers and credit card payments. Please note that credit card payments are limited to a maximum of $2,000 per transaction.
Funds during the Escrow process on TurboBid are held by TurboBid’s designated Escrow service provider, ensuring impartiality and security for both parties.
Yes, there are fees associated with using Escrow on TurboBid. Typically, these fees are negotiated and agreed upon by the buyer and seller as part of the transaction terms.
In case of a dispute during the Escrow process on TurboBid, both parties are encouraged to communicate and resolve the issue amicably. If a resolution cannot be reached, TurboBid may intervene to facilitate a fair resolution.
When a seller lists their vehicle on TurboBid and a buyer accepts the price, our verification process typically completes within 5-10 minutes. If there’s an outstanding loan, we contact the lender, potentially delaying the transaction based on their response time.
Payments are usually verified promptly, including weekends, but may take up to one business day depending on the buyer’s bank. Transactions over $50,000 require payment via wire transfer. After payment verification and e-signing of the bill of sale by both parties, transactions are typically approved within 15 minutes.
We utilize our AI damage inspection report at the time of pick-up and delivery to ensure all conditions are met.
Escrow is recommended for all transactions on TurboBid to ensure security and peace of mind for both parties. However, buyers and sellers can discuss and agree whether to use Escrow or not.
TurboBid partners with reputable Escrow service providers that adhere to strict security protocols to safeguard funds held in Escrow. Additionally, TurboBid implements encryption and secure transaction processes to protect user information.
Yes, inspections are conducted using TurboBid’s AI damage inspection feature. This can be completed conveniently from any smartphone and typically takes less than 5 minutes. Both the buyer and seller perform this inspection during the escrow process to ensure transparency and accuracy in assessing the vehicle’s condition. More information on inspections can be found here.
Buyers and Sellers are verified on TurboBid once the Escrow process is initiated to ensure all parties are legitimate. Furthermore, all TurboBid listings are verified before they’re uploaded onto our platform. This dual verification process helps maintain the integrity and security of transactions on TurboBid.
TurboBid automatically generates a bill of sale for each transaction. This document is electronically signed by both buyers and sellers and can be downloaded from their dashboard at any time. The bill of sale explicitly states that the vehicle is sold in its current “as is” condition, unless otherwise specified.
Transport your vehicle anywhere in Canada
Book Canada-wide transport options, including open and enclosed transport, directly through your TurboBid Dashboard.
