How Does an IAAI Auction Work?
Insurance Auto Auctions is one of the largest companies auctioning off these salvaged vehicles. On a yearly basis, an IAAI auction sells around one million units to registered buyers around the country.
IAA has a diverse selling network utilizing online, bidding proxies and live auctions. This greatly increases their reach of potential buyers and makes them one of the preferred selling avenues for anyone wanting to get rid of a total-loss vehicle. Rental car companies, charities, dealerships, insurance companies and even individuals are able to get a great return when using an IAAI auction to sell their salvaged vehicles.
With a long list of diverse buyers, Insurance Auto Auctions represents the real potential for those wanting to sell their total-loss vehicles. This company utilizes a unique model that helps to generate faster return times and can increase the total sale price. IAAI also takes care of all legal requirements by ensuring all buyers to buyers recognized by the state.
When drivers have accidents, they are often left wondering what to do with their damaged cars. Fortunately, IAAI auctions make that question much easier to answer. Here is an overview of how the auction process works.
Insurance Auto Auctions helps to pair salvaged vehicle sellers with interested buyers. When a vehicle labeled as a total-loss is brought to IAAI, experts examine the individual parts and overall vehicle to determine what can be sold. They then utilize their vast selling network of both online and live auctions to find buyers to purchase the total-loss unit or its parts.
IAAI helps to ensure that all legal requirements are met throughout the selling and purchasing process. This is a great advantage for those who aren’t familiar with state requirements surrounding the selling of total-loss vehicles. Another great benefit to using IAAI auctions is the quick turn-around time and easy sales process. There aren’t many companies in the US that can sell a salvaged vehicle faster.
Both buyers and sellers find great value in IAAI auctions as they continue to provide a necessary function by linking these two parts of the salvaged automotive market together. Next time you have a total-loss vehicle, consider calling IAAI for an estimate on your vehicle’s worth.