The Ultimate Guide to Buying Cars at IAA Automotive Auctions
Buying a car can be a daunting process, especially if you’re on a budget or looking for a specific make or model. However, there is one place where you can potentially find the car of your dreams for a fraction of the price – at an automotive auction. And one of the biggest and most respected auction houses in the world is IAA (Insurance Auto Auctions). In this comprehensive guide, we’ll walk you through everything you need to know about buying cars at IAA auctions.
Registering for an Auction
The first step to buying a car at an IAA auction is to register. You must be registered and approved to bid on vehicles at any IAA auction, either in person or online. If you’re planning to attend a physical auction, bring your ID to register on-site. Online registration is available on IAA’s website, where you’ll have to provide personal information, like your driver’s license number and address. You’ll also have to place a refundable deposit, which varies from auction to auction and ranges from $100 up to $5,000.
Before bidding on any car, take advantage of IAA’s preview period, either in-person or online. You can inspect the car and check its unique features, options, mileage, and condition. Make sure to take note of any damages or cosmetic flaws, and research the vehicle history report to uncover any accidents, flood damage, or other issues.
IAA auctions offer several types of bidding systems, including online, live and proxy bidding. But the most common one is the electronic bidding system, where you bid on a car by typing in your maximum bid. If someone outbids you, the system will automatically raise your bid until you reach your maximum or are outbid. Be aware that if you win a bid, you’ll be subject to a buyer’s fee, which can range from $50 to $500 per car.
Payment and Transportation
Once you win a bid, you’ll have to pay for the car within a set period, usually within five business days. IAA accepts various forms of payment, including wire transfers and cashier’s checks. If you’re attending a physical auction, you’ll need to arrange transportation for the car you’ve won. IAA offers local shipping options, but you’ll be responsible for the cost of shipping, which can range from a few hundred dollars to a few thousand, depending on the location.
IAA offers a designated timeframe during which you can have an independent mechanic inspect the car you’ve bought. If your mechanic detects a significant issue with the vehicle that was not disclosed in the condition report, you can request a refund. Make sure to follow IAA’s inspection process guidelines to protect yourself if such a situation arises.
Should you buy a car at IAA?
IAA automotive auctions are a great place to get a good deal on a wide variety of cars. However, it’s vital to do your homework, thoroughly inspect the cars, register for an auction, and understand the bidding system. Also, make sure to have adequate payment and transportation arrangements in place after you win a bid. By following these essential tips, you’ll be on your way to buying your dream car at IAA.
Get your IAA cars delivered
Automoves ships vehicles from all Canadian IAA locations several times per week. We offer competitive rates and unmatched transit times. Whether your newly purchased IAA vehicle runs or not, we can handle delivery anywhere in Canada.
Contact our team today at +1 (877) 577-8953 and speak about our IAA auction transport options.