Terms and refunds
How it works
Sponsors bid for logo spots on the panels of a 2018 Mustang GT. The first bid on a panel pays its start price, and each takeover pays exactly double the current price. If sponsors cover $18,500 by the deadline, Don buys the car and the logos go on. If not, everyone is refunded minus Stripe's fee.
Stripe keeps its processing fee when a charge is refunded, which is why most refunds are “minus fee”. For a US card that's about 2.9% + 30¢. The exact fee is read from Stripe when the refund is issued.
Refunds
| Case | Refund |
|---|---|
| Outbid on a panel | Amount minus Stripe's fee |
| Round fails (raised is under $18,500 at the deadline) | Amount minus Stripe's fee, for every leading bid |
| Lost a race (you paid for a price someone else claimed a moment earlier) | Full amount |
| Payment completed after the deadline | Full amount |
| Bid voided by us (unacceptable logo) | Full amount |
| Leading bid when a funded round closes | None: you won the panel |
Card refunds usually land in 5–10 business days after they're issued.
Logos
Logos must be yours to use and suitable for a car on public roads. We can hide a logo (the panel then shows your company name) or void a bid with a full refund if a logo is unacceptable.
[DECIDE] How long logos stay on the car.
Edge cases
[DECIDE] What happens if the listed car sells before purchase.
[DECIDE] Where money raised above $18,500 goes.
3D model: “Ford Mustang GT 2018” by SadPepe on Thingiverse (thing 3192801), licensed CC BY-NC and used with the author's permission. It's a representation; the logos go on the real car.
Questions: @jacob_rhodes_ on X.