Auto auctions are a method of selling new, and also used vehicles based on auction system. Auto auctions can be found in most nations, but are not usually by most people, since in most nations like the United States, auto auctions are exclusive to used car dealers. Basically, Insurance auctions that sell salvage vehicles, such as Insurance Auto Auctions, Salvage World and Global Insurance Auction, offer bidders live, live online, proxy and pre-bid options for auction vehicles. Insurance Auto Auctions, however, for numerous reasons rank high.
Insurance Auto Auctions is the leading live and live-online salvage vehicle auction company and a wholly-owned subsidiary of KAR Auction Services, Inc. It has it’s headquarter in Westchester, Illinois and proudly owns nearly 160 auction facilities throughout North America. Popularly known as IAA, the auction company has sold millions of vehicles through its weekly auctions for insurance companies, fleet and rental companies, financing companies, charity organizations and the general public. Insurance Auto Auctions work in conjunction with other auction sites, including Adesa Salvage Vehicles and so on. IAA provides the live auction bidding technology for smaller companies to bid on their inventory through the IAA bidding site.
Although most of its auction facilities is situated in North America, IAA provides registered buyers from around the globe with millions of opportunities to bid on and purchase donated and salvaged vehicles. Insurance auto auctions hold live, weekly auctions and also allow buyers to bid on vehicles electronically using their live Internet auction bidding technology, called “I-bid LIVE. Insurance Auto Auctions is a public company that is quoted on the New York Stock Exchange. Today, Insurance Auto Auctions has provided millions of dollars in additional funding to charities by assisting in the processing of donated vehicles. As an American, there are numerous benefits that you seek to enjoy by being a part of Insurance Auto Auctions and using their services.
Here are just a few:
Strong Brand Name
When it comes to going through an auction in purchasing a vehicle, there is nothing better than having a name you can trust. The goal is to take part in a high-quality auction that would leave you happy, and this can only be offered by a company with high credibility. One of the best options available today in the United States is Insurance Auto Auctions. They are one of the top salvage car auctions in the United States, and they offer a number of benefits for potential buyers.
Rather than risk losing your money to scammers, you can rest assured that they are publicly known and would in no way loot you off your money. Their experience dates as far back as 1982 and they have only gotten better since then. Today, they have become one of the top auction houses for salvage vehicles for both buyers and sellers alike. You certainly cannot go wrong with Insurance Auto Auctions.
Insurance Auto Auctions offers top-notch competitive insurance and other benefits to its employees especially. The benefits are offered through its parent Company, KAR Auction Services, Inc. and the package allows employees to choose the types and levels of benefits that best suits them. According to IAA’s official website, the insurance and non-insurance benefits they provide include:
- Disability Insurance: KAR Auction Services, Inc. provides Short Term (STD) and Long Term Disability (LTD) insurance coverage for free.
- Life Insurance: KAR Auction Services, Inc. provides Basic Life and Accidental Death & Dismemberment (AD&D) insurance at no cost in the amount of two times the employee’s annualized salary.
- Dental Insurance: They offer a choice in dental PPO plans between a Premium Plan and Standard Plan.
- 401(k) Savings Plan: Participants may contribute 1% to 90% of their pay on a pre-tax basis through a traditional 401(k) account or post-tax basis through a Roth account. KAR Auction Services provides a match of 100% for the first 4% of participant contribution. This is of course, directly for its employees alone.
There are even more benefits that you stand to gain as their client and much more when you opt to work with them.
Buyer and Seller Benefits
Where there have been accidents that make your car seem unrepairable, using Insurance Auto Auctions is a sure bet. Instead of you to dump these cars that have been defaced at local junkyards, you are provided with a wonderful option to sell it at insurance auto auctions. Insurance Auto Auctions are not simply on board with just cars that have been wrecked in accidents, either. Where flood, fire, or even damage caused by thieves occur, the seller still earns from them.
As an Insurance company that has paid claims to a client for auto damage, you can still make money from the car. All you have to do is sell it at Insurance Auto Auctions as well.
As a buyer as well, you can get cars in poor states at the cheapest rates ever. At the end of the day, all you have to do is refurbish it and you are good to go.
Plenty of Options
As a result of how big Insurance Auto Auctions have become, many people trust them and use them for their auto auction needs. Generally, they always have cars coming through the auction, so you get to see something new all the time. Depending on how many times you frequent them, you would be open to various new options day-in day-out. You can get cars that are not even so bad after all! With many options come an ease in proper selection. This is part of what you stand to enjoy when you use them for your auto auction needs.
It is cheap
Emphasis needs to be placed on how cheap it is to use Insurance Auto Auctions to meet all your auto auction needs. It is cheap to both the buyer of the cars and to the seller themselves. The purchasing power can increase by numerous percentages that it may be surprising to you at first instance. At the end of the day, you can rest assured that you are getting proper value for your money – no matter how cheap.