Insurance Salvage Auto Auctions – Things You Need to Know Right Now!

Insurance salvage auto auctions are like a unknown and uncharted territory to most. While you can get some excellent deals there, you need to know how to properly use them to you advantage or you could end up getting burned. Use these FAQs as a guideline before even thinking about going to one.

1. What is a salvage auto auction? An insurance auction is basically a regular car auction that only sells vehicles that insurance companies have labeled as salvaged.

2. What are salvaged cars? Salvaged cars are those that have been in an accident, flood or fire and are considered totaled by the previous owner’s auto insurance. A salvage car could get that title for something as little as having the airbag deploy in a minor fender bender. Or be completely burned to a crisp.

3. Is there any risk involved? You’re taking more of a risk when buying from these type of car auctions because the cars are sold in as-is condition and will need repairs and/or body work done. Sometimes the repairs could be as little as replacing a bumper to something so serious the car can only be used for parts. The car could’ve also been in a flood which will cause the electrical system to go out sooner or later. So, know what you’re getting into!

4. Who can go to one? Because of the risk involved, insurance salvage auto auctions are only open to car dealers that have a valid license. But, you can become friends with a local dealer that might take you along with them to their next auction. 9 times out of 10 they’ll charge you a fee though.

5. Where can I find an insurance auto auction near me? You can ask your local dealer or find a car auction site online that will give you some locations near you.

So, now you know the real deal about insurance salvage auto auctions. They sell cars that have been totaled, so you’re going to have to make some kind of repair to it no matter what. You can find one near you by looking online or going with a used car dealer you know. But, you’re really better off going to a regular public auto auction that has cars that are generally in good condition. That way you don’t have to come out of your pockets to pay for repairs.

Insurance Auto Auctions – Getting a Car For Cheap Just Got Easy!

Are you looking to purchase a car, but you do not want to pay the high prices that dealers charge? Did you know that there are other ways to get a vehicle without paying the expensive dealer prices? One of those ways is through insurance auto auctions and if you know what you are looking for this can be a great way to get a new or used vehicle. Here is how it works.

When an insurance company decides that a vehicle has been totaled out they pay the owner and they go ahead and sell the car. This is how they deal with a vehicle that has had enough damage that it really is not worth it to the insurance company to fix it. Sometimes it does not take much damage to total out a car and sometimes it is only a little bit to get the car fixed.

This means that if you go to insurance auto auctions and you find a vehicle that has some damage, but is very repairable, then you can get it for a couple hundred dollars, then spend a thousand dollars or so to fix it. You can do this with insurance auto auctions and end up with a vehicle that cost you less than $2,000 once it is repaired and is worth well over that amount.

There are also other types of auto auctions that you can use like government auctions, online auctions, and open to the public dealer auctions. These are all great places to get your next vehicle for a better price than what you will find on any dealer lot. This is a great way to save money with the economy being so sour right now.

Insurance Auto Auctions – Getting Your Next Vehicle For Cheap is Easy!

Are you sick of paying full price for vehicles when you know that dealers are just a middle man? Do you want to save about 50% on your next vehicle and get it from somewhere other than a dealer? This is very possible and you can get your next vehicle at one of many insurance auto auctions for cheap. Here is how it works.

When an insurance company totals out a vehicle for any reason they now own it and they will auction it off. I know what you are thinking, Why would you want a car that has been totaled?

Well, what most do not understand is that a totaled car does not mean that it is not drivable or not fixable. It means that the amount of damage is equal to or greater than the amount the insurance company is willing to pay out to the owner of the car. They are more willing to cut a check for the value of the vehicle than pay to have it fixed.

This is good news for you because with insurance auto auctions and public car auctions you can get your vehicles for cheap. All you have to do is pay to have it fixed and sometimes this means paying a couple hundred dollars for the car, a thousand dollars to have it fixed, and it could be worth $5,000 or more when you are done.

You will want the advice of a mechanic and a body shop man if you do this because you will need to know how much it will cost to fix the vehicle. Take your time and shop the auctions properly and you can get a great deal on a vehicle that just needs a little bit of body work and has not real engine issues.

Insurance Auto Auctions – The Basics

One of the best ways to save cash when purchasing cars is through insurance auto auctions. This is the ideal way if you want to avoid paying the commissions of dealers (who are actually just middle men) and pay only for what the car is worth. Through this method, you can dramatically reduce the price by as much as 50% to 70% lesser than the original market value of a vehicle.

The items that are sold in insurance auto auctions are those vehicles that have been salvaged from people who have defaulted in a certain way. This happens when an insurer decides that the vehicle in their possession is no longer of use for the insurer and that it is best if it is sold or auctioned. However, this does not mean that they are no longer drivable or repairable. It only means that the amount of repair for the incurred damage is equal to or greater than the amount that the insurer is willing to release to the owner. So, in a way, you can assume that they are more willing to earn a little profit from its sale rather than to have the vehicle fixed.

Although insurance auto auctions are not so profitable for the financial institutions, this is actually good news for you. While they are trying to get rid of a burden, you are benefiting from it because you can now purchase your dream automobile at a relatively low price. The only thing that is left for you to do is to have it repaired and this is indeed still cheaper than having to buy a brand new one or even slightly used vehicles.

This scheme is very common lately and you cannot blame the people who take advantage of this very great opportunity. And because of its popularity, even other financial institutions want to benefit from it. When a salvaged car is sold, some of the insurers would naturally want to obtain some rights even to a very minimal percentage of the process. Whether it is wrong or right for them to take advantage of this situation, this scheme is commonly practiced nowadays and many companies and individuals are making good use of this opportunity.

However, before you decide to purchase anything, it is necessary that you seek the advice of a mechanic to guide you in your buying decisions. Insurance auto auctions are a great way to get your dream automobile but it is essential that you inspect everything to make sure that you get your money’s worth.