So, you want to buy a car, a good one but also inexpensive. New cars are pretty costly, but buying a used one from an individual dealer is a risky decision. So, what should you do to save money and get what you want? Well, there’s a simple answer: think about visiting a salvage auto auction.
For your goal, you can choose a world-known auction that has its own salvage yard or a registered broker. Both options are equally suitable for buying used and salvage cars, SUVs, trucks, jets, and many more vehicles. However, both of them have their pluses and drawbacks. If you want to know the difference between these two options, just read this article.
Official salvage auctions
The first place you’re likely to visit is an official auto auction that owns a yard where totaled vehicles are stored. What we’re talking about is online auctions such as IAA and Copart, where you can find millions of vehicles arriving there every week. The greater part of them comes directly from insurance companies and banks. For a customer like you, this means a good selection of cars and a high chance to find a vehicle in fair condition. And, of course, that means reducing your chances to become a victim of fraud, since only registered dealer companies can sell cars there.
Official auctions, however, have a serious drawback for individual buyers. To acquire a salvage car there, you need to have a dealer’s license that only registered dealerships can get. So, if you don’t own an automotive business, you won’t be able to sell and buy cars.
Licensed brokers
Good news, many licensed brokers can help you buy a salvage automobile. These are intermediaries officially licensed to buy and sell vehicles on IAA and Copart. Some of those brokers collaborate only with a single renown auction; others partner with both of them and offer a wider selection of vehicles.
After you sign up, upload all the needed documents, and acquire a membership, you’re free to bid on vehicles and purchase them online. Remember, though, that usually, you need to pay a service fee to both to the auction you buy from and to the auction that physically owns your vehicle. If you don’t know what broker to choose, simply head over to the official IAA or Copart website and use the search to find the list of licensed brokers.
Final words
Whichever auction you choose, a big renowned marketplace or an officially licensed broker website, you need to remember about the associated fees. The cost of a car that you see after winning the bidding is never final. In addition to that, you’ll need to pay a service fee, a shipping cost, and also arrange a pick-up at the destination point. That’s why the majority of auctions online offers a final cost calculator that applies all the commissions and shipping to the chosen region.
Just remember, that no auction will do all the job for you. So, be attentive to details and you’ll find your car.
