Insurance Auto Auction Washington DC
September 23rd, 2011Insurance Auto Auctions Washington DC
Insurance auto auctions in Washington DC are a great way to get a great deal on salvaged cars and trucks. In fact, the company Insurance Auto Auctions is one of the most commonly used specialists in this area with auto auction locations throughout the United States. The company has been around since the early 1990s providing a variety of auto auction services for car owners, car buyers, and car dealers. If you are looking for a good way to get a car at a cheaper rate, insurance salvage deals are a great option!
Salvage vehicle auctions involve several elements – including a facilitation between buyer and seller as arranged by the Insurance Auto Auctions company. Although IAA is one of the more well known companies in this part of the automotive industry, many other companies exist with the same auto salvage specialty.
Automotive salvage occurs when an insurer considers a vehicle to be a “total loss” in insurance terminology. Essentially, this means that the vehicle is of no use to the insurance provider and the insurance carrier. When this happens, the salvaged vehicle can be sold or parted out. Many major insurance companies work with Insurance Auto Auctions, Inc. and similar companies. You will not be surprised to learn that Farmer’s Insurance, and even GEICO are just some of the names on the IAA list of regular clients.
Percentage salvage auction sales are more common these days as such companies work hard to get a piece of the action! When a salvaged car is sold at rock-bottom prices, the insurance agency provider is very interested in obtaining rights to at least a small percentage of the insurance auto auction. Since this practice has become more common in recent years, more and more insurance agents and their representatives are seeking percentage shares with companies like Insurance Auto Auctions.
If you are sick of paying full price for vehicles when you know that dealers are just a middle man then 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 in Washington DC 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.
Did you get any useful ideas from the article? If you did, please feel free to share the article with your family and friends who live in Washington DC. You just never know when they might be looking for Insurance Auto Auctions in Washington DC.