Kinds of Customers at Insurance Auto Auctions
Every year, an insurance auto auction online attracts millions of customers of all kinds. Interested buyers include private individuals looking for a good deal, and auto dealers, exporters, and businesses who want to resell these vehicles. In ordinary circumstances, buyers are qualified to take part in insurance auctions through a licence. However, registered online brokers who hold the requisite licenses can make access to these auctions easy. Just make sure to check the credentials of the broker before you set out to deal with them.
Fleet Vehicles in Mint Condition
One of the vehicle types bidders usually find at an insurance salvage cars auction site is fleet vehicles. They are owned and leased by a private or government agency. One good example of such vehicles is rental cars. After these cars reach a certain mileage and undergo normal wear and tear, they are auctioned off. Otherwise, most of them are in relatively good condition.
Sales List for an Idea of Damage
While some of the vehicles in insurance auto auctions are in bad shape, the rest can pull themselves for many more years with minor repairs. Make sure you go through the sales list at every such auction to get an overall idea of the nature and extent of damage each vehicle sustains. This way buyers will know what they are investing their dollars in.
Arrangement for Transporting Vehicles
Arrangement for vehicle transportation is available with some insurance auto auctions. This ensures that buyers get quickly what they purchase. It is the duty of online brokers to take of the transportation part by liaising directly with the insurance company on behalf of buyers.
Wrap-Up
Just because an insurance company writes off certain vehicles as loss, it doesn’t mean they are meant to end up in the junkyard. Insurers want to get rid of these vehicles, some of which are still in excellent condition and leading brands like Honda, as soon as possible, and thus are willing to go far down on the prices. For the discerning buyers, this is a golden opportunity to kill two birds with one stone. So, this category of auctions can be goldmine for bidders as long as they know what they are looking for.