‘Finance’ Category

Reasons To Buy From The Insurance Auto Auction

Getting involved with auto auctions may just be the best thing you ever do if you're looking to get a new or used vehicle.  If you want to bid in any...


Getting involved with auto auctions may just be the best thing you ever do if you’re looking to get a new or used vehicle.  If you want to bid in any auctions, the Insurance Auto Auction is a great place to start.  Anyone who’s interested in going to one of these auctions needs to take the first step which is to find a reputable auctioning company to go through.  They work in partnership with a variety of sellers to ensure their consumers always get the best selection. s

They are known for being the true leader in total-loss and commercial remarketing options.  They offer motorcycles, boats, high-end cars and motor homes.  They have all the vehicles you can imagine and you get to search and find just what you need, then bid on them in person and this offers you more flexibility and choice.  You can check their site to find out when their next auctions are in your area if you’re interested in attending in person.

One of the best advantages the Insurance Auto Auction offers is their policy of offering three different ways to bid.  If there are few to no other bidders, you can get a vehicle for next to nothing.  You can either bid in person the old-fashioned way so that you can take a look at a vehicle before deciding to invest money in it, or you can do online bidding for which the entire process takes place over the computer.  As long as you have a working Internet connection you can utilize the I-Bid Live feature which allows you to join in on live auctions.

You may also choose to place your bids in real time over the Internet with their online bidding feature.  You can do your bidding the night before so it’s over and done with.  You can do pre-bidding on your computer which allows you to place bids the night before the auctions actually begin.  The highest pre-bid is then taken and represented at the auction.

These are certainly some impressive benefits offered by the Insurance Auto Auction Company.  There are hundreds of other auctioneer companies you could go through but there’s a reason this one stands out.  They even feature some resourceful tools to help you find the right vehicle.  The tools and resources they offer make it easy even for newcomers to the auction scene to find what they’re looking for and get a great deal.

How The Wholesale Auto Auction Works


Old cars need more maintenance than new ones and with money as tight as it is these days, paying large amounts to keep an old car on the road can be difficult and buying a new one may make a lot of financial sense.  The problem lies in the fact that when even paying for car maintenance is hard, where does the large amount of money needed for a new car come from?  The solution lies in the wholesale auto auction where, if you know what you are doing, great bargains can be found.  Okay, these are not new cars, but you will be able to replace your old car with something better and cheaper to run at prices that do make a lot of economic sense.

A wholesale auto auction is conducted by a bank or finance company to sell off the vehicles that have been reclaimed due to the inability of the borrowers to repay their loans.  The financial institutions need to sell of these vehicles to recover as much as possible of the remaining loan amount and they need to do it fast.  Everyday that they do not get back as much money as possible means their losses keep increasing.  On top of that, they will be paying storage charges for the cars in their possession and the longer the cars remain in storage, the more they will depreciate in value and also begin to show signs of age.

The lenders need to liquidate these assets as quickly as possible to cut their losses and the way they do this is by wholesale auto auctions.  The key to succeeding at a wholesale auto auction is to understand that the lenders are in a rush to get back as much of their money as they can and will not hold back a car even if the last bid is far lower than the market value and that is why those who attend these auctions regularly keep their bids low knowing that if they miss out on one car, another will soon come along.  However, buying from a wholesale auto auction is not without dangers ‚Äì keep in mind you are buying a used car with no warranties.  People who know in advance that their cars will be repossessed by the lenders often stop spending money on even basic maintenance, so many of these cars available at these auctions may not be worth buying.  Before bidding on a car at a wholesale auto auction it is essential to have the car checked out by an experienced mechanic to ensure that the buyer does not get any unpleasant surprises once he takes the car home.

Find Real Bargains At A Surplus Auto Auction


The government has long had a reputation of accumulating far more of everything than it needs.  While this may be true in many cases, in others, such a cars and trucks, surpluses occur when the regulations demand that they be replaced or when the changing nature of government work makes vehicles redundant.  Because of the policies, there are always a number of vehicles that the government cannot use or no longer needs and which it must sell off.  The majority of these cars are what are called government fleet vehicles; government service cars (domestic cars with often low mileage) and those used by police departments and other such government agenciesthese will have higher mileage but will have been well maintained.

In most cases a buyer will be given a vehicle history along with the car so if that is an important issue for you, check on the availability of the history before bidding for a car.  In many cases the vehicles up for auction would not be available for sale under any other circumstancesit is only because of the policies regarding replacement or the fact that the government has decided that it no longer needs these cars and trucks.  Surplus vehicles may also be those that have been seized by law enforcement agencies and which the government has no use for.   All kinds of vehicles are available at the surplus auto auctioncars, trucks, heavy equipment, ATVs and motorcycles.

Families who need a second car and do not want to spend too much or need to buy one for a child who is now old enough to drive  will find that a surplus auto auction will offer a number of economical options.  While there is a wide range of vehicles types and makes available at these auctions, they are a great place to look for the luxury car that you could not otherwise affordcars that have been seized from big time crooks like drug lords who are known for their love of luxurious cars.  As everyone knows, these crooks always travel in expensive sedansand since the government has no use for them, they are sold off for whatever the auction brings in.  And this is one factor that must never be forgotten when bidding at a surplus car auctionthe government must sell these cars as having them laying around costs money for storage so the pressure is on it to sell these surplus cars fast.  The government profits by cutting overheads and bringing in some cash and the buyer benefits by getting a car at prices he will not find elsewhere.

Dealing With Auto Auction Prices


Auto auctions are becoming increasing popular as the best place to find cars at bargain prices but understanding auto auction prices and how to go about bidding is something that leaves a lot of people feeling very confused.  Unlike traditional new and second hard car purchase, there is no sticker price in an auto auction that can be issued as the opening price in negotiations with the dealer.  In the case of an auto auction, there is no sticker price or any other point of reference ‚Äì the price car is sold will depend on the interest it evokes among the bidders.  Probably the only fixed point on auto auction prices is the price at which the auction opens and even this may be lowered if there are no takers for the opening price.

The best way to understand auto auction prices is to spend time at a few without bidding on anything.  Just sit and watch and you will get an idea of which makes command the best price, how the age of a car affects its selling price and how the bidding proceeds ‚Äì how much is the general increase over the previous bid and so on.  All this will give you an detailed understanding of both how the bidding normally progresses and also a ballpark figure of the comparative selling prices of different makes.  While doing this exercise, try to look out for the kind of cars you are interested in and pay special attention to their auto auction prices.

Auto auction websites and magazines are another good source of information on auto auction prices.  Once you have a working idea of what the kinds of car you are interested in are going to cost you, you will need to set yourself budgets.  Keep in mind that there are no certainties in any auction and if you get caught amongst bidders who are determined to have the car you are also bidding for, the price can sky rocket.  Keep your bidding limit flexible as possible so that you have some maneuvering room during the bidding process, but never let yourself exceed the budget ‚Äì it may seem like a small additional amount to risk, but once you start exceeding you financial limits, it can be difficult to know where to stop.

No matter how much you may want a car, stay away from bidding wars that can push up auto auction prices and make buying the car impractical – the whole point of an auto auction is to get a good car at a cheap price.

Benefits Of A Motorcycle Auto Auction


Anyone who’s on the hunt for a new or used motorcycle may be able to find just what they need through a motorcycle auto auction.  The benefits of a motorcycle auto auction are many, but more than anything the reason they’re so popular is because you can find a bike in great condition and get it at half the price it’s actually worth.  Often time you can find a motorcycle in almost mint condition for less than half the price of what it’s actually worth when you go to one of these auctions.  Anyone interested in getting a motorcycle from an auction should stick to a few well known companies, to avoid having to deal with any scammers.

Salvage Bikes Auction is one of the best places to check out when looking for a motorcycle auto auction.  They are an auction that’s limited to licensed auto dealers and dismantlers so you know that you will never get taken advantage of.  The bikes are all quality whether new or used and you can choose to either bid online or in person at one of their live auctions.  The process is simple through the Salvage Bikes Auction Company.

First you need to search through the bikes listed on their auction which you can do online or in person the old-fashioned way.  Once you have decided you place your bid and if it turns out you have the highest, you win the bike.  There is a security deposit required which is 10% of the offer and then the balance will be due plus a $50 handling fee.  Just remember that all fees are non-refundable so you can’t go back after you’ve agreed to buy a bike, but this applies to most auto auctions.

They are not the only motorcycle auto auction worth checking out and there is also Biker Bids.  They offer some of the best bikes including Indians and Harley Davidsons.  There are always new live auctions becoming available and most people choose to place their bids online.  You can at least use the website to gain more information on what different bikes they have available at any given time to save yourself time when you get to the auction in person.

You can go through the entire bidding and purchasing process completely online if you like.  You can get your new bike and have it delivered to your door without ever leaving the comfort of your own home.  As long as you shop carefully and stick to respectable auction companies such as those listed here, you should be able to get a great deal.  Make sure that you get all the proper paperwork and keep it in a safe place, especially the warranty in case you need it.