aerial view of a car auction lot with rows of auction cars for sale
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Looking for some cheap used cars and trucks being sold at salvage car auctions? Every year, insurance companies across the United States offer wrecked vehicles for auction. While these vehicles are declared a “total loss” by the insurance company, they may be easily repairable and a great bargain for remarketers.

These auctions are for more seasoned car auction bidders and not recommended for those that have never participated in a car auction — especially if you do not have much mechanical knowledge. For those that do, they’re a great way to find all kinds of salvage vehicles, including salvage luxury cars.

How to Buy Wrecked Insurance Cars

Do insurance companies sell totaled cars?

Each year, insurance companies will declare a vehicle a total loss. However, a total loss does not mean that the vehicle is a complete wreck.

A “total loss” is declared when the cost of repairing the vehicle exceeds the value of the vehicle. When a vehicle is declared a “total loss” by the insurance company, it is placed for auction at one of the many auction sites in the United States.

Can I bid on insurance total loss cars at salvage auctions?

Yes! You don’t need a dealer license in order to bid on an insurance car. All you need to do is visit an auction website that auctions insurance cars or visit an auction location.

At some sites or locations, you may have to provide a 10% deposit in order to bid on a vehicle. However, that’s all you need to get started.

What types of vehicles are available at insurance auctions?

All types of vehicles are declared a “total loss” by insurance companies. Therefore, you can bid on everything from popular selling cars, trucks and SUVs to luxury vehicles and even exotic cars. Chances are that the exact type of vehicle that you are looking for is being auctioned by an insurance company.

What are the advantages of buying a car at a salvage auction?

There are a number of reasons to consider bidding on vehicle at insurance auctions. Here’s a look at three of the top benefits:

  • Lower prices
    Because the vehicle is being sold at auction, there is a chance that you can get the vehicle for less than its blue book value if there is not much bidding interest. In many cases, you can get a great deal on a vehicle.
  • Fast closing of deal
    Once the auction is finished, you can quickly take possession once you have provided the full payment on the vehicle.
  • You can bid on a wide variety of vehicles
    At vehicle auctions, you will usually find a wide variety of vehicle from a number of brands. There is a good chance that you will find the exact type of vehicle that you are looking for.

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Where can I bid on insurance cars in the USA?

  • 1). Copart
    Copart has been in business since 1982 and offers non-repairable, clean title, salvage vehicles. The company has over 200 locations all over the United States. We think Copart is excellent because you can bid in person as well as online.
  • 2). ACV Auctions
    ACV auctions offers full vehicle condition reports which offers excellent transparency. Also, auctions on the site are only 20 minutes long. The only downside with ACV Auctions in our opinion is that you can’t inspect the vehicle in person before the auction.
  • 3). IAAI
    IAAI is operated by Insurance Auto Auctions. The company offers online auctions as well as in-person auctions at 190 locations in the United States. IAAI offers several different payment options which we find makes it easier for newer salvage car auction bidders.
  • 4). Auto Auction Mall
    Auto Auction Mall usually have about 200,000 live auctions going on at any one time to make it one of the top auction sites. They offer access to exclusive dealer salvage auctions and give the public the ability to buy wrecked cars via a broker.
  • 5). Autobidmaster
    Autobidmaster is a registered Copart broker. That means that your free membership with Autobidmaster gives you access to all of Copart’s auctions. The company has over 162,000 vehicles available for purchase.

How to bid on insurance cars in the USA

  • Visit a car auction site
    Our users often tell us that browsing through car auction sites is the first step to finding a salvage car that suits their needs. It’s where you get a sense of what’s available.
  • Register with the auction site
    Registration is usually straightforward. We’ve guided many users through this process, and it’s essential for getting access to the auctions.
  • Find the vehicle that you want to bid on
    Our users have found great deals by taking their time to search through the auction inventory. Knowing what you’re looking for can help you spot a good opportunity when you see it.
  • Place your bid
    Placing that first bid is a significant step. We’ve seen users hesitate but ultimately dive in. It’s the moment you become an active participant in the auction.
  • Watch the bid and be prepared to modify your bid if you are not the highest bidder
    Auctions can be unpredictable. Being prepared to adjust your bid is crucial, especially as the auction nears its end.
  • Provide full payment if you win the auction
    Winning the auction is just the beginning. We’ve helped users understand that prompt payment is key to finalizing the deal to avoid extra costs.
  • Arrange to take possession of the vehicle
    Whether you’re picking up the car yourself or having it delivered by a car shipping company, it is important to not waste time. We’ve seen bidders have to pay storage fees because they could not arrange to take the vehicle.

Getting a Deal on Insurance Cars

You may be able to save big on an insurance car at auction. Be sure to check out the auction sites listed above. With the right patience, you could score big on an insurance car at auction, but it can be very risky for an inexperienced car auction bidder.

Watch a Walk-Through of an Insurance Auction Car Lot

In this video, you’ll get an up-close look at a salvage car auction lot in New Castle, Delaware. The video showcases 254 cars in varying conditions, from heavily damaged wrecks to vehicles that could soon be road-worthy again.

It provides a comprehensive view of what’s available in the salvage car market, making it an essential watch for anyone interested in salvage car auctions.

Video Credit: East Coast Classics

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Last updated on September 23rd, 2023 at 06:59 am

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