Features of the IAAI auction (Insurance Auto Auction)
The IAAI (“Insurance”) auction is considered one of the most popular places in America to buy a car. The acronym stands for “Insurance Auto Auction.” It specializes in selling vehicles that are put up for auction by insurance companies or banks. There can be many reasons for this: traffic accidents, vandalism, natural disasters, debt, and much more.
The platform enforces strict controls to ensure that vehicles are described exactly as they appear in reality. Thanks to this, the risk of buying a “pig in a poke” is minimal, but it still exists.
In addition to cars, you can also buy small-displacement vehicles, watercraft, and agricultural vehicles here.
Advantages of the IAAI platform:
- By purchasing a car here, customers can save 50–60% off the list price on the Ukrainian market.
- Anyone can participate in the auctions. Here, you can view all lots of cars from the U.S., unlike at the “Mannheim” auction.
- The vehicles are prepared for sale. A specialist repairs any minor defects before the vehicle is put up for auction. This helps you buy a car at a low price but in good condition.
- The list includes a wide variety of passenger cars and trucks, as well as small vehicles, boats, agricultural equipment, and more.
- You can also purchase a vehicle for parts.
The purchase process is fast, takes place online, and requires just a single click of the mouse.
How does the platform work?
Insurance companies very often supply vehicles to the IAAI auction platform. This is because it’s quite expensive to repair a car in the U.S., and it’s not cost-effective for insurance companies to do so, regardless of the extent of the damage. Therefore, the cars are sold at rock-bottom prices, and the owners receive compensation.
When a vehicle is received, the platform’s specialists inspect it and verify the VIN and mileage.
If the car can be restored and sold in the future, it is driven to a special area for preparatory work. There, the paperwork is processed, and a lot number is assigned.
After preparation, the vehicle is moved to the auction site, where it is photographed and its condition is demonstrated.
How do I register for the auction?
You can easily register on the website, but you’ll need to pay a $200 deposit to get a one-year subscription. You can filter lots on the website using the following criteria:
- type of vehicle being purchased;
- make;
- mileage;
- nature of damage;
- auction date.
The auction website is available in Russian.
Why should you seek professional assistance?
Bex Auto is an official partner of IAAI. Our specialists will assist you in purchasing a car at a favorable price and help you save time and money.
Our managers will help you select a car from the U.S. and conduct a thorough inspection to ensure you don’t fall victim to scammers. We also handle the delivery of the car to Ukraine, customs clearance, repairs, and registration.
