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Embracing the Future | IAAI’s New Chapter in Auto Auctions

Car auction shipping with Nationwide Auto Transportation

In the dynamic world of auto auctions, staying ahead of the curve means embracing change and innovation. IAAI, a longstanding leader in the digital automotive marketplace, is poised for a new chapter as it joins forces with Ritchie Bros. Auctioneers in a transformative merger. This strategic union heralds a pioneering era for IAAI, set to revolutionize the industry with an unparalleled global platform that leverages cutting-edge technology and data analytics.

As the deal unfolds, IAAI’s commitment to connecting buyers and sellers in the most efficient and transparent ways will only strengthen, promising to deliver value like never before. Whether you’re a seasoned bidder or new to the auction scene, this guide will navigate you through IAAI’s enhanced services and what they mean for your auction experience in 2024 and beyond.


National Motor Vehicle Title Information System (NMVTIS) For buyers interested in the finer details of a vehicle’s past, the National Motor Vehicle Title Information System (NMVTIS) offers a comprehensive history check. This resource is invaluable for understanding the background of salvage title vehicles, ensuring you’re fully informed before making a purchase.


What is IAAI?

IAAI specializes in selling vehicles through auctions. They work with insurance companies, fleet companies, and other sellers to get their vehicles onto the market.

Embracing the Future | IAAI's New Chapter in Auto Auctions

IAAI is a leading online auction platform for buying and selling cars, trucks, motorcycles, and other vehicles. It offers a wide selection of vehicles from salvage to clean titles at competitive prices. If you’re looking for a great deal on a used car, IAAI might be the right place for you.

IAAI is a leading online auction platform for buying and selling cars, trucks, motorcycles, and other vehicles. It offers a wide selection of vehicles from salvage to clean titles at competitive prices. If you’re looking for a great deal on a used car, IAAI might be the right place for you.

Where to find Insurance Auto Auctions?

all across the US

Insurance Auto Auctions has locations all across the United States, including Phoenix, Seattle, Houston, Omaha, Fresno, Portland, Sacramento, North Hollywood, Dallas, East Bay, Des Moines, MN, Detroit, Tucson, Raleigh, San Diego, San Antonio, Sioux Falls, Austin, Taunton, Columbus, Orlando, Syracuse, Albuquerque, Tulsa, Tampa, Utah, and Atlanta.

In this post, we’ll cover all the essential details you need to know before using IAAI. From what wait title means to how to bid on auctions, we’ve got you covered. So, let’s dive in!

How to Sell a Car on IAAI?

If you have a car that you want to sell on IAAI, the first step is to become a registered seller. Once you’re registered, you can list your vehicle for sale on the platform. You’ll need to provide detailed information about the car, including its condition, mileage, and any damage. You’ll also need to upload photos of the car.

sell a car

When your car is listed on IAAI, potential buyers will be able to view it and bid on it. If your car sells, IAAI will handle the payment and the transfer of the title to the buyer.

If you’re new to buying cars on IAAI, you might want to consider using an IAAI broker. An IAAI broker is a licensed professional who can help you navigate the buying process and find the best deals. Brokers can help you find the right car, bid on it, and arrange for transportation.


What Does Wait Title Mean on IAAI?

One thing you may come across when browsing IAAI’s inventory is a car with a “wait title.” This means that the title for the car is not yet available and cannot be transferred to the buyer until it is. The wait time for a title can vary, but it is typically a few weeks to a few months. If you’re in a hurry to get your car, you may want to avoid bidding on vehicles with wait titles.

Before we dive into the buying and selling process on IAAI, let’s talk about what a wait title means.

A wait title on IAAI is a title that is pending, which means that the title is being held by the state or insurance company for some reason. It could be due to unpaid fines, outstanding loans, or other issues. If you’re interested in a vehicle with a wait title, you can still bid on it, but it’s important to know that you won’t be able to transfer the title until the issues are resolved.

How do I sell a car on IAAI?

cAR SALE

If you’re looking to sell a car through IAAI, you’ll need to have the vehicle inspected by one of their inspectors. You can schedule an inspection online or by phone. After the inspection, the vehicle will be assigned to an auction and will be sold to the highest bidder.


Federal Trade Commission (FTC) – Buying a Used Car

Navigating the complexities of auto auctions can be challenging, especially when it comes to understanding your rights and what to look out for. The Federal Trade Commission (FTC) provides essential guidelines and tips on buying used cars, a must-read for ensuring a smart and safe purchase.


How do I use IAAI brokers?

IAAI offers a brokerage service for buyers who are unable to attend an auction in person. Brokers can bid on your behalf and handle all of the paperwork for you. You can find a list of IAAI-approved brokers on their website.

Other Charges When Buying from IAAI Auction

Aside from the purchase price, there are other charges that you should expect when buying a car from IAAI auction. These charges include the following:

  1. Buyer’s Fee: IAAI charges a buyer’s fee that varies based on the sale price of the car. The buyer’s fee is typically a percentage of the sale price.
  2. Processing Fee: IAAI charges a processing fee for every vehicle purchased. The processing fee covers the cost of paperwork and other administrative tasks associated with the sale.
  3. Storage Fee: IAAI charges a storage fee for every day that the car remains on their lot after the sale. It’s important to make arrangements to pick up the car as soon as possible to avoid paying a high storage fee.
  4. Transportation Fee: If you need IAAI to transport the car to your location, you will need to pay a transportation fee. The fee varies depending on the distance between the auction site and your location.

How Long Does it Take for IAAI to Assign Auction?

IAAI typically assigns auctions within 24-48 hours after the sale is completed. However, there might be delays due to various factors, such as high volume, holidays, or technical issues.


Why does it take so long for auction to be assigned on IAAI?

This is a common question asked by those who are interested in buying a car through Insurance Auto Auctions (IAAI). The answer to this question is multi-faceted, as there are several factors that can affect the timeline of an auction assignment.

Buying a car at auction

One reason for the delay in auction assignment is the sheer volume of vehicles that pass through IAAI’s system. With over 150 locations across North America, IAAI processes millions of vehicles each year. Each of these vehicles must be inspected, processed, and assigned to an auction before it can be sold.

Another factor that can impact the speed of auction assignment is the condition of the vehicle. If a vehicle has been involved in an accident or has other significant damage, it may require additional inspections or paperwork before it can be assigned to an auction. This can add to the time it takes for the vehicle to become available for sale.

Additionally, the location of the vehicle can play a role in the assignment process. Vehicles that are located in remote areas may take longer to assign to an auction, as it may take longer to transport them to a nearby IAAI location.

How Do I Bid on Auctions at IAAI?

Bidding on IAAI is straightforward. First, you need to register for an account and provide a deposit. Once you’re registered, you can search for the car you want to bid on and place your bid. You’ll need to keep an eye on the auction and adjust your bid if necessary. If you’re the highest bidder when the auction ends, you’ll win the car.

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What is a “biohazard chemical” car on IAAI?

Another thing you may see in IAAI’s inventory is a car labeled as a “biohazard chemical” car. This means that the vehicle has been exposed to hazardous chemicals, such as gasoline or battery acid, and may be dangerous to handle. These vehicles are typically sold for parts or scrap only and cannot be driven. In that case, you will need to tow it or speak to an auto transport company that specializes in shipping salvage / biohazard cars.

How do I bid on auctions at IAAI?

Bidding on an auction at IAAI is a straightforward process. You can place your bid online, in person, or through an approved broker. Before you bid, it’s essential to do your research on the vehicle you’re interested in and set a maximum bid that you’re willing to pay.

How do I bid on all lots in IAAI?

If you’re interested in bidding on all of the vehicles in a particular auction, you can do so by submitting a bulk bid. This allows you to bid on all of the vehicles in the auction at once, rather than having to place individual bids.

How much do cars sell for on IAAI?

The price of cars sold at IAAI auctions can vary widely depending on the make, model, and condition of the vehicle. Some cars sell for just a few hundred dollars, while others can go for tens of thousands of dollars.

IAAI is a great place to find good deals on used cars. However, there are some things you need to keep in mind when buying from IAAI. Here are some notes to consider:

salvage car

Salvage titles

Many of the cars sold at IAAI auction have salvage titles. This means that the car was declared a total loss by the insurance company and may have been involved in an accident or suffered damage in a natural disaster. Make sure you understand what a salvage title means before buying a car with one.


acution car inspection

Auction car inspection

It’s important to inspect the car thoroughly before bidding on it. IAAI provides a condition report for each car, but it’s still important to examine the car in person to ensure that it’s in the condition you expect.


car auction bidding

Car auction bidding

Bidding can be competitive at IAAI auction, so it’s important to have a strategy in place. Decide on your maximum bid before the auction begins and stick to it. Don’t get caught up in a bidding war and end up paying more than you intended.


IAAI payment

Payment

IAAI requires payment in full within two business days of the auction. Make sure you have the funds available to pay for the car before bidding.


Car registration

Registration

You will need to register with IAAI before bidding on any cars. Registration is free, but you will need to provide some personal information and a valid form of ID.


Cities Covered by IAAI and Nationwide Auto Transportation [Get 20% OFF auction car shipping]

IAAI has auction sites all over the United States. Here are some of the cities covered by IAAI:

IAAI vs. Copart: Which is cheaper?

IAAI and Copart are two of the largest and most popular auto auction companies in the United States. While both companies have similar business models, there are some differences in their fees and charges:

IAAI vs copart

Overall, while both companies offer similar services and have comparable fees, the decision of which one is cheaper ultimately depends on the specific auction and vehicle in question. It’s always a good idea to do your research and compare fees before placing a bid to ensure you’re getting the best deal possible.

Additionally, it’s worth noting that while buying a car from an auto auction like IAAI or Copart can be a great way to save money, it’s important to be aware that many of the cars sold at these auctions have salvage titles. Salvage titles mean that the vehicle has been damaged to the point where an insurance company has deemed it a total loss, and the car may not be roadworthy even if it appears to be in good condition. As a result, it’s crucial to thoroughly inspect any vehicle before purchasing it at an auto auction to ensure you’re getting a safe and reliable vehicle.

The IAAI Wrapped Up

IAAI auctions offer a diverse selection of vehicles at competitive prices. Whether you’re buying or selling, it’s vital to understand auction intricacies, from salvage titles to wait titles and additional fees. With the right approach, you can navigate IAAI auctions successfully.

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4 responses to “IAAI | Expert Guide to Auto Auction Success [2024]

  1. If you know what auto auctions are all about, you won’t go wrong buyina car from them/

    (5/5)
  2. Good information. I been to a few auctions but I still have to buy my car. This information will help me choose the right car. Thank you Nationwide Auto Transportation.

    (5/5)
  3. Great information in the lead up to my first ever auction next month. Hopefully I can also get a good deal.

    (5/5)

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