Payment Terms

Last updated: July 7, 2026

These Payment Terms cover how REO charges and refunds your Reservation Payment. They are part of, and should be read with, the Reservation Agreement and Privacy Policy. "REO" means REO Industries, Inc., a Texas corporation.

1. The Charge

Placing a reservation authorizes a one-time charge of $25 to your payment method. This is your Reservation Payment. You represent that you are authorized to use the payment method provided.

2. Payment Processor

Payments are processed by a third-party payment processor (e.g., Stripe). By placing a reservation, you also agree to that processor's terms. REO does not collect or store your full card number. REO is not responsible for acts, errors, or omissions of the processor.

3. What the Payment Is

The Reservation Payment holds your place in line. It is not a purchase, a deposit toward a binding sale, or a guarantee of price, configuration, availability, or delivery. If you later buy a vehicle, the $25 is applied to your purchase price.

4. How We Handle It

Reservation Payments are not held in an escrow or trust account. REO may use Reservation Payments for general company purposes, including vehicle development and operations. Your Reservation Payment remains fully refundable as described in Section 5, and your right to a refund is not affected by how funds are used.

5. Refunds

Your Reservation Payment is fully refundable at any time before you enter into a Purchase Agreement.

• Request a refund by canceling in your account or emailing hello@reotrucks.com.
• Refunds are issued to the original payment method.
• Refunds are typically processed within 5–10 business days; the time to appear depends on your bank or card issuer.

A full refund is your sole and exclusive remedy in connection with your reservation, as stated in the Reservation Agreement.

6. Failed, Disputed, or Reversed Payments

If a charge fails or is reversed, your reservation may not be created or may be canceled. If you believe a charge is in error, contact us at hello@reotrucks.com before initiating a chargeback and we will resolve it promptly. You agree not to initiate a chargeback for an amount we have already agreed to refund.

7. Changes and Contact

We reserve the right to update these Payment Terms at any time. Updates apply prospectively only: your reservation is governed by the version in effect at the time your reservation was placed. The current version will always be posted on this page with its "Last updated" date. Questions: hello@reotrucks.com.

REO Industries, Inc. — Built like it used to be.