Insurance Auto Auction: There are a lot of ways to buy yourself a car. Aside from the traditional one that includes going to a store and purchasing the model you love, people often consider joining an auction as an option.
This is because in some instances the automobiles on the auctions are cheaper, giving everyone a chance to pick a model that they can’t get otherwise. Not to mention that usually, they tend to be in a fine condition and ready to be driven at once.
So, do you think of joining an auction? We’ll help you with that now by presenting you with the details. Let’s go!
What Is Insurance Auto Auction?
For those who aren’t familiar with the term, an auction is an event where people bid on some items. Usually, the items vary from cars to art pieces, items with a great historical value and other exclusive stuff. The one with the highest bid gets the auctioned item. The same is with the insurance auto auction.
One of the biggest companies in the Insurance Auto Auction has been operating for more than thirty years. It’s a platform that enables people to process as well as sell total loss vehicles, ones recovered from theft, donated ones, fleet lease, and so many more.
The auctions are, in most cases, held live as well as through an online live manner. The public actions are open to any public buyer who can participate with a bid on the available item on display.
Inspecting the Vehicles Before the Insurance Auto Auction
Bidders and potential buyers are often very interested in seeing and inspecting the item that they want to purchase on the auction. After all, it’s very logical to see firsthand the one thing you’re going to spend your money on. That’s why most companies offer a possibility to do that prior to the insurance auto auction.
You can check the car on certain dates and times which are provided by the company. What’s more, you can easily check the website of the firm that’s running the auction for more information regarding that as the times and dates may vary for different auction facilities.
How to Participate in an Insurance Auto Auction?
Due to a large number of bidders and automobiles, companies like Insurance Auto Auction offer multiple options for bidding. Some of the most common ones are:
- Live online – Thanks to the live technology, you can bid on the internet as the auction happens. You just have to click a button and join the live auction.
- Proxy bidding – This one allows you to bid online prior to the auction. Then during the auction, there will be a presentation of all the pre-bids including the winning one.
- Live in-person – Choose a location and join other interested buyers on an auction physically.
Final Words About Insurance Auto Auction
Did you make up your mind about this? Will you participate in an auction like this? Or have you had any experience with Insurance Auto Auction before? We like to hear it all.