Buying a salvage vehicle is just the beginning of the journey, as after that you have to take care of having it shipped to your location and then getting it restored. Although almost every leading auto auction platform, including Salvagebid, has a shipping partner that the buyers can contact to get their vehicles shipped, as a buyer, you should be aware of the common freight acronyms when shipping your vehicle. That’s the reason why, in this blog post, we’ll cover some common acronyms to know when shipping your vehicle.
DV – Short for “Declared Value,” DV is simply the value of the cargo as specified by the shipper availing transportation services. If you are shipping a car, the DV should ideally be the overall price you paid for it including any brokerage or auction fee.
D2D – Short for “Door-to-Door,” which means that the cargo will be picked from the shipper’s preferred location and dropped off at any desired location, which makes it an ideal option to transport cars within the state borders.
P2P – Short for “Port-to-Port” transportation, P2P is a commonly used acronym in international shipping. Under the P2P arrangement, the shipping company is responsible to ship the cargo from one designated port to another.
LTL – If you need to ship small cargo, such as a car, chances are that you may come across this acronym as it is used for all shipments that require less than truckload (LTL); basically, any cargo that weighs less than 7,500 lbs and is less than 12 ft in length.
STL – This one is more of a synonym of the last one as it essentially means the same thing. Short for “Shared Truckload,” STL means that your vehicle will be sharing the container with other vehicles, and all shippers will be splitting delivery costs.
BOL – Short for “Bill of Lading,” BOL serves as proof of the delivery of your vehicle and documents its condition at the time of pickup as well as delivery. If a vehicle receives any kind of damage during shipping, the shipper must mention it in the bill of lading.
The Last Word
The shipping industry can be confusing for those who haven’t shipped any major cargos such as vehicles. That’s why we have a trusted shipping partner to ensure you have an absolutely shipping experience. Once you have bought a vehicle from Salvagebid’s insurance auto auctions, all you need to do is contact our shipping partner to discuss your requirements, and they’ll take care of the rest. If you have any questions about our American auto auctions, simply call: +1 (360) 347-1300 Monday through Friday, 7am to 4pm (PST) or email at: [email protected].