What is Insurance Auto Auctions, Inc?
Insurance Auto Auctions, Inc (IAA) is the industry's leading automotive auction (and a subsidiary of KAR Auction Service Inc, which is publicly traded on the New York Stock Exchange). IAA has a division that auctions used and damaged vehicles to the general public, rebuilders, exporters, and others. IAA also has a division that purchases vehicles from the general public and sells them in an auction.
How is a price in the Price Guide determined?
In addition to being a buyer of used and damaged vehicles, IAA is also the automotive auction industry's top company. IAA auctions millions of vehicles each year. To compute the prices shown in the Price Guide, IAA's computers select from millions of vehicles to find ones matching your vehicle (e.g., make, model, year, condition, and odometer). For each vehicle selected, IAA computes a price based on the amount for which it was auctioned in the past. Other factors are also considered (e.g., how long ago the vehicle was auctioned, what is today's cost of transferring a vehicle's title in your state). All you need to do is pick a vehicle like yours to learn your price.
Why did my price end up different from the price I selected on the online Price Guide?
Most people can and do accurately take into account the condition of their vehicle when selecting a price from the Price Guide. In some situations the condition of the seller's vehicle is different than the condition associated with the price on the Price Guide or the Vehicle Identification Number (VIN) of the seller's vehicle is a different model/series than the VIN associated with the price on the Price Guide.
Why is the pick-up time different from the pick-up time I selected on the online Price Guide?
In some situations the pick-up time you select using the online Price Guide is different because of unexpected changes in the schedule of the driver. Some changes to a driver's schedule are not anticipated by IAA's computers.
How soon will I receive payment?
Unless you have made other arrangements with your purchasing specialist or your local IAA branch you will receive payment when our driver picks up your vehicle. Please note – you must provide your vehicle and a properly signed and notarized (if required in your state) title to receive payment at time of pickup.
How long will it take for IAA to come and pick up my car?
In most cases our tower will pick up your vehicle in 1-2 business days. If you have agreed to a pre-arranged pickup time then your car will be picked up in the pickup window you arranged with your purchasing specialist. If you did not establish a pre-arranged pickup time with your purchasing specialist then your local Insurance Auto Auctions branch will contact you to arrange a pickup time.
What is the process transferring the title?
The process of transferring the title varies by state. In most cases you will completely fill out the SELLER section (Name, Address, Signature, etc).
In the BUYER or PURCHASER section please only fill out the name of the BUYER or PURCHSER as INSURANCE AUTO AUCTIONS. Our branch will fill in the rest of the information for you.
• Please fill the title out carefully as most states will not allow corrected mistakes (white out, cross-out, or write over). This may void the title and require additional documents to correct or replace it.
• Please sign your name on the title EXACTLY as it is listed on the title including your middle name or middle initial if it's shown.
• If more than one person is listed on the title and the names are separated by "OR" then only one of the people listed on the title needs to sign it. If the names are separated by an "AND" or "AND/OR" then both people listed MUST sign the title.
I can't locate the title, can IAA help?
Insurance Auto Auctions can assist you in obtaining a duplicate title in most states. In most cases we will need two Power of Attorney forms that will allow our title department to obtain a duplicate title from your state's motor vehicle department and transfer it to Insurance Auto Auctions to complete the sale. We will be happy to fax or email the appropriate documents and have you sign them so we can pick up your vehicle. Please note that some states require secure forms that cannot be sent via email and MUST be mailed to your address and some forms may require notarization.
Please note – you must be the legal registered owner of the vehicle for Insurance Auto Auctions to assist you in obtaining a duplicate title.
Other companies buy cars, why should I sell to IAA?
Because IAA pays more and -- at the end of the transaction -- you'll have peace of mind knowing your title was legally and correctly transferred, so your name and address are no longer on it.
IAA pays more because we are a local buyer. IAA buys your vehicle and auctions it as fast as we can at one of our 170+ store locations. IAA buys and auctions thousands of vehicles each week; so we have the experience to price your car right and the economies of scale to keep our expenses low so we can pay you more.
Go direct to us and avoid the middleman. Other companies will buy your car and then put it in our auction. Your price is higher when you sell direct to IAA.
You'll have peace of mind... You'll have peace of mind knowing IAA's 200+title clerks have expertise processing millions of titles each year. Our title clerks have been cleared for direct electronic access to Department of Motor Vehicle (DMV) computer in the majority of states that allow direct access to high-volume companies.
How can I be sure this transaction will be safe for me?
IAA's parent company is publicly traded on the New York Stock Exchange (KAR Auction Services Inc, ticker symbol "KAR") and must comply with its standards. IAA is licensed in all fifty states. IAA is trusted by the nation's largest insurance companies and rental car companies to properly and honestly treat their policyholders and customers, especially when at your home. To see some of these companies, go to the auction site and search our inventory to view the names of this week's providers of vehicles.