Your Questions About Insurance Auto Auction

Thursday, March 29th, 2012 at 4:42 am ?

Donald asks?

How would I bid on insurance auto auction please.?

I will like to buy auction cars on internet but I don?t know how.

admin answers:

Go to the site of the auction, and sign up. They have step by step instructions

George asks?

Insurance Auction in CA?

Ok why Insurance Auto Auction sold salvage tittle car that still in good shape and good condition only to this type of business, Dealer, Dismantler, Exporter, Other Licensed Business, Rebuilder or Scrapper? But some cars like those totally in bad condition and bad damage is sold in public people?
Can you still buy those car that is in good shape even its not sold in public?
Thanks for the answer! :]

admin answers:

Insurance companies have a VAST amount of totalled cars that they sell each month. They usually contract to sell them as a LOT. They don?t want someone picking and choosing the GOOD ones, and leaving the heaps behind. MUST BUY ALL is the way it works.

So yes, you certainly CAN go buy ONE particular one, from whatever dealer, dismantler, rebuilder, or scrapper bought the entire lot, from the insurance company.

You?d be buying it with a SALVAGE title, though, because, after all, it?s a total loss!

Sandra asks?

Auto Auction Question !!!?

I want to buy look for a car from an auction place near my where i live , but i don?t understand who are if i am allowed to buy one without being a dealer ?? the place is called ? Insurance Auto Auctions ?
any information on this is appreciated thanks.

admin answers:

Call them and ask what is required to bid on the cars. If you need a dealers license you can usually find a used car dealer that will bid for you for a fee. You will have to have the cash to purchase as financing is not accepted at most auctions.

Chris asks?

Average time before a vehicle is ready for sale on IAAI (Insurance Auto Auctions Inc.)?

I?ve been waiting for this truck to be put up for sale FOREVER. I know IAAI has to receive the title from the insurance company before the can put the truck up for sale but its been like 3 months. Trucks that are completely wrecked that are put up after this truck sell first, but this truck has no damage so i dont know why its taking forever. I know it takes insurance companys forever to do paperwork but 3 months!? if you know the average time for vehicles on IAAI or any other salvage auto auctions it would be great. Til then, the wait continues

admin answers:

There can be many reasons for the delay. If the payoff on the truck is more than the insurance settlement, the owner of the vehicle would have to come up with the difference before the lien holder would release the title.

There may be a lawsuit involved. There may be other issues with the vehicle, such as it having been stolen and the VIN altered, and there may be a delay in getting that straightened out. Without knowing the history of the vehicle, there is no way to be sure.

What happens is the insurance companies have the vehicles towed to IAAI (or another company) to avoid paying storage at tow companies. The insurance companies have a special deal, where the sale company does not charge them for storage. Sometimes the insurance company ends up selling the vehicle back to the owner, if it is a total loss. In that case, the car will never hit the auction block.

There is also the possibility that an employee at IAAI wants to buy the vehicle, and it may be slipped into a sale at the last minute, to try to keep the bidding down. Some locations of IAAI are worse about things like that than others.

Jenny asks?

what i need to get a auto/boat dealer licence in northern CA ?

i want buy a truck from an insurance auto auction and also in the near future a boat but i need a dealer licence to purchase what do i need to get a auto/boat dealer licence ?

admin answers:

Here are some links on how to apply for a California Auto Dealer?s License. Getting a Boat Dealers License is different as is applying for a Boat Broker?s License. The Boat Dealer?s License is for selling NEW boats only. You?ll need a ?Broker?s? License to sell USED boats in the State of California.

Http://dmv.ca.gov/vehindustry/ol/dealer.htm

http://www.dbw.ca.gov/YnS/YnSbrokerapp.aspx

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Source: http://www.aaautoinsurance.org/your-questions-about-insurance-auto-auction-2.php

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