IAA Insurance Auto Auction: The Ultimate Guide

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Buying a car can be a daunting task, especially if you have a tight budget. Luckily, IAA Insurance Auto Auction provides an affordable and easy way to purchase a high-quality vehicle at an amazing price. In this comprehensive guide, we will provide you with everything you need to know about IAA Insurance Auto Auction, from how it works to the benefits of purchasing a car from them.

Table Contents show

What is IAA Insurance Auto Auction?

IAA Insurance Auto Auction is a company that specializes in selling cars that have been damaged, stolen or repossessed by insurance companies, banks and other financial institutions. The company has over 190 locations across the United States and Canada, making it easy for buyers to find the car they are looking for.

IAA Insurance Auto Auction sells a wide range of vehicles, including cars, trucks, SUVs, motorcycles and boats. The company holds both live and online auctions, so buyers can choose the method that works best for them.

What are the benefits of buying a car from IAA Insurance Auto Auction?

There are several benefits of buying a car from IAA Insurance Auto Auction:

  1. Low Prices: Cars sold at IAA Insurance Auto Auction are priced significantly lower than their market value, making them an affordable option for budget-conscious buyers.
  2. Large Inventory: With over 2 million vehicles sold annually, IAA Insurance Auto Auction has a massive inventory of cars to choose from.
  3. Easy Purchasing Process: Buying a car from IAA Insurance Auto Auction is a straightforward process that can be done either online or at one of their locations.
  4. Quality Vehicles: IAA Insurance Auto Auction thoroughly inspects all vehicles before they are put up for auction, ensuring that buyers get a high-quality car.

How does IAA Insurance Auto Auction work?

IAA Insurance Auto Auction offers two ways for buyers to participate in their auctions:

Live Auctions

Live auctions are held at IAA Insurance Auto Auction locations across the United States and Canada. Buyers can attend the auction in person and bid on the cars they are interested in.

Before the auction starts, buyers can view the cars that will be up for sale and inspect them. This gives buyers the opportunity to examine the car’s condition and decide how much they are willing to bid.

Once the auction starts, buyers can bid on the car they want. The highest bidder wins the car and must pay for it immediately. If the buyer is unable to pay, the car will be offered to the second highest bidder.

Online Auctions

Online auctions are held on IAA Insurance Auto Auction’s website. Buyers can register for an account and bid on the cars they are interested in from the comfort of their home.

Before the auction starts, buyers can view the cars that will be up for sale and inspect them by viewing photos and videos. This gives buyers the opportunity to examine the car’s condition and decide how much they are willing to bid.

Once the auction starts, buyers can bid on the car they want. The highest bidder wins the car and must pay for it immediately. If the buyer is unable to pay, the car will be offered to the second highest bidder.

FAQs

1. How do I register for an account?

To register for an account with IAA Insurance Auto Auction, visit their website and click on the “Register” button. You will be asked to provide some personal information, including your name, address, and contact details. You will also need to provide a valid driver’s license or government-issued ID.

2. How much does it cost to participate in an auction?

IAA Insurance Auto Auction charges a non-refundable registration fee of $200 for new buyers. Additionally, buyers must pay a deposit of $400 or 10% of the total purchase price (whichever is greater) for each car they want to bid on.

3. Can I inspect the car before I bid on it?

Yes, buyers can inspect the car before they bid on it. IAA Insurance Auto Auction provides photos and videos of each car on their website, so buyers can examine the car’s condition. Additionally, buyers can inspect the car in person at one of their locations before the auction starts.

4. How do I pay for the car I win at an auction?

Buyers must pay for the car they win immediately after the auction ends. Payment can be made using a credit card, wire transfer or cashier’s check. If the buyer is unable to pay, the car will be offered to the second highest bidder.

5. How do I transport the car I buy?

Buyers are responsible for transporting the car they purchase from IAA Insurance Auto Auction. The company can assist with shipping arrangements, but the cost of transportation is the buyer’s responsibility.

Conclusion

IAA Insurance Auto Auction provides a great opportunity for buyers to purchase high-quality cars at affordable prices. With a massive inventory, easy purchasing process and quality vehicles, IAA Insurance Auto Auction is the perfect place to find your next car. Whether you participate in a live or online auction, you can be confident that you are getting a great deal on a car that will last you for years to come.

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