If If you’re curious about buying a vehicle through an insurance auto auction, we’re here to walk you through the process.  Keeping in mind that each auction has its own procedures, here’s what generally happens during an insurance cars auction:

1. Register – You first register for membership, thus allowing you to submit offers on any vehicle(s).  Some sites require a registration fee, usually about $150, and a security deposit, usually $400 and possibly refundable.  After you’ve paid this deposit, you’ll receive access information via email. Without registering, you can browse the website but cannot submit bids.
2. Bid – You log onto the website as a member and search the vehicles for sale.  You select the vehicle(s), indicate the maximum price you’re willing to pay and have the auction service bid on your behalf at a live auction.    Auctions happen live on a specified day, so there will be a deadline for your bid(s).  Please be aware that you should only place an offer if you’re serious about buying the item.  If you win an auction and then refuse to pay, your security deposit will be collected, you’ll incur assorted fines and will be permanently disbarred from the auction service.                                             
3. Payment – If your bid was successful, you’ll receive a confirmation email and an invoice.  You then sign the bill of sale and fax it to the auction service, along with a copy of your driver’s license or passport.  You then pay for the vehicle in full, usually within two days of faxing the bill of sale.  Be aware that most auction sites will only accept wire transfers for the full payment.  After you have paid in full, you sign and fax the updated bill of sale, after which you’ll receive an email confirming full payment.  Following this, you’ll receive the title of ownership, usually within seven to 10 business days.
4. Having your vehicle shipped – Most auction sites are not shippers and therefore cannot transport vehicles.  Instead, they help you arrange shipping through a network of transporters.  The average transport cost is based on mileage and usually consists of an arranger’s fee.  Be aware, though, that the cost varies from city to city.  The better auction sites can also arrange for international shipping.

If you decide that online insurance cars auctions are your best option, do your homework and make sure you understand the various terms and conditions.  When you choose a reputable auction like Salvage World, it makes the process easier.  For more information, e.g. an explanation of our fees and refund policy, please contact us.  We’re happy to answer any questions!

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