Buying vehicles straight from insurance companies is a great way to save money, especially if you want salvaged or repairable vehicles. Often, insurance auto auctions have cars for sale that have been written off due to road accidents, recovery from theft, or natural disasters. Online car auctions give buyers access to salvage title cars at great prices. In this guide, we’ll explore everything you need to know to buy auction cars directly from an insurance company through insurance auto auctions.
1. Be Clear On What Insurance Auto Auctions Offer
When an insurance company declares a vehicle a total loss, it is usually sent to a salvage auto auction. Buyers can purchase auto auction salvage cars at these online vehicle auctions much cheaper than their market value. While some salvage cars for sale at such auctions have minor damage, others may require more repairs.
There are a few different types of auto auctions:
- Public auto auction – Open to all without restrictions.
- Dealers only – A dealer’s license is needed to participate – a broker can help with such purchases.
- Online auto auctions – Allows bidders to join car auctions online remotely.
- Live auction – Conducted in real-time, online, or at a physical location.
2. Find an Auto Auction Platform
Salvage car auction websites specializing in salvage auto auctions are a great way to access insurance car auction listings. Some platforms offer auctions open to the general public, while others are more limited and require a dealer’s license for access.
When choosing a platform, it’s a good idea to consider:
- The variety of vehicles for sale
- Whether it hosts public car auctions
- The availability of cars, trucks, and other vehicle types
- Access to live online bidding options
3. Look Into the Vehicle’s History
Look into the car’s background before bidding at a salvage vehicle auction. Many online auto auctions provide vehicle history reports detailing:
- Previous accidents and damage
- Title status (e.g., salvage vehicle, rebuilt, or clean title)
- Estimated repair costs
As salvage auction cars may have underlying issues, getting a professional inspection before buying is a good idea.
4. Understand the Bidding Process
Most online car auctions require users to make an account before they start bidding. Some auctions require a deposit first, too. Here’s how the bidding process works:
- Register on the auction website
- Search for a car in auctions that you want to buy
- Check auction details, including the auction start time
- Place your bid during the online auction or live auction
- Track the bidding process and adjust your bid if necessary
- Make a final payment before collecting your vehicle or having it shipped.
5. Know the Costs Involved
Beyond the winning bid, extra costs may apply when buying cars from public auto auctions or auto salvage auctions:
- Auction fees – Charged by the insurance auto auction platform
- Transportation – Delivery costs from the auction site
- Repairs – A must for repairable cars before they can be roadworthy
- Title and registration – Fees for transferring ownership
6. Arrange Pickup or Delivery
You must arrange transportation after getting a vehicle from an auto salvage auction. Since most salvage title cars for sale are not legally drivable, they’ll need to be shipped. Many online auction platforms offer delivery services for convenience. Also, platforms like EasyHaul are worth considering for your shipping needs.
7. Repair and Register the Vehicle
Once the car arrives, evaluate its condition and start repairs. Depending on its condition, salvage auction cars may require inspections before registration. After passing inspection, you can get a rebuilt title and legally take the car out on the road.
Final Thoughts
Buying from an Insurance Auto Auction is a cheap and easy way to find salvage vehicle auction deals. You can successfully purchase a car online, e.g., via SalvageBid, or in person from an insurance auto auction by researching online vehicle auctions, being clear on bidding procedures, and adequately prepping for repairs. Whether you’re a single buyer or a dealer, these auto auctions offer plenty of opportunities to find great vehicle deals.
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