If you are looking for a hot deal on a used car, you can get one at auto auctions. There is no better place than an auction to get the bargain of the century when it comes to most items. But you have to be careful that you do not get buyer's frenzy and start bidding out of control.
There are auto auctions all over the United States and a lot of them in your city. You can usually find them at car dealerships, police lots and pretty much everywhere. One way to find auctions is to look in the newspaper for ads. You can even find car auctions online.
Prior to attending a car auction, find out if you have to sign up to attend. In some cases, you can just sign in when you arrive at the auction. In other cases, you have to sign up prior to attending. Make sure that the auction is open to the public.
You are going to have to buy the car as is. There are usually no warranties or guarantees given with the car. You are also going to have to have cash to pay at the auction. In some cases, such as is the case with online auto auctions, you can pay within a certain amount of time with a cashier's check. Some dealers take Paypal as well.
Make sure that you do not get into buyer's frenzy when you are buying a car auto auctions. Instead of setting your sites on one car that you just have to have, pick out several cars that you like and have a price in mind that you want to spend for the car. Do not go higher than that price that you set in your mind. Auctioneers are experts at getting people frenzied so that they feel they are winning a car in an auction. You are not winning, however, if you pay more than you would on the lot.
Another thing you want to make sure of is that the dealer is reputable. You do not want to go to a car dealer that will end up not having title for the car. There are ways to get lost titles for cars, but you should be familiar with them before you attempt this and also make sure that the car dealer who is auctioning the car is legitimate. You do not want to be purchasing a stolen vehicle.
Auto auctions can be a lot of fun an can be a great way to get a bargain on your car. Why not check out auto auctions online or in your city the next time you want to get a good deal on a used car.
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Monday, June 29, 2009
Monday, June 22, 2009
Insurance Auto Auctions Drives Record Returns for Its Customers
Insurance Auto Auctions, Inc., a leading provider of automotivesalvage and claims processing services in the United States,today announced record vehicle returns during the secondquarter.
IAA's dual bidding strategy has continued to drive more buyersto the Company's auctions than ever before, resulting inincreased bidding activity and higher vehicle returns for itsinsurance company suppliers.
"Combining the feedback we have been receiving from ourcustomers with our internal data, we believe our vehicle returnswere the highest in the industry during the quarter, which wefeel is a direct result of our dual bidding platform andimproved levels of customer service," said Tom O'Brien, CEO. "Onaverage, our returns have increased more than $300 per unitcompared to 2003, providing a significantly better return forour insurance company suppliers. Our live auctions, most ofwhich feature Run & Drive(R) auction lanes, are supplementedwith our state-of-the-art Internet bidding capability, givingour growing customer base the flexibility to see and bid on ourvehicles up close or through the Internet from anywhere in theworld in a real-time setting. Enthusiastic buyer support of ourauction model is clearly evident from the increase in buyerparticipation we have experienced, both at live auctions and viathe Internet. By encouraging more buyers to come on to ourbidding platform than ever before, we believe that during thequarter we were able to generate more bidding activity and thehighest vehicle returns in the industry."
Commenting further on the Company's recent operatingperformance, O'Brien said, "We haven't missed a beat throughoutthe organization since the close of the Kelso & Companyacquisition in late May. The transaction has allowed us to focuseven more of our time and energy on improving our operations andservice levels to our customers, translating into much higherreturns for our suppliers and higher profits for IAA. TheCompany generated revenues of $71.9 million in the secondquarter, compared with $60.0 million in the same quarter of2004. Gross profit margins improved to 26% in the secondquarter, up from 22% in the same quarter of last year. We alsocontinued to strategically expand during the quarter,specifically in Jacksonville, Altoona and Charleston, providingIAA with a greater geographic reach to meet the needs of ourcurrent and potential customers. Going forward we will continueto target new strategic opportunities that will further increaseour buyer base and maintain our momentum of generatingsignificantly higher returns."
S-4 Filing: Insurance Auto Auctions also filed an S-4 today thatprovides supplemental financial information to the resultsprovided herein. Please refer to this document for additionalfinancial information about the Company and its quarterlyresults.
About Insurance Auto Auctions, Inc.: Insurance Auto Auctions,Inc., founded in 1982, a leader in automotive total loss andspecialty salvage services in the United States, providesinsurance companies with cost-effective, turnkey solutions toprocess and sell total-loss and recovered-theft vehicles. TheCompany currently has 80 sites across the United States.
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IAA's dual bidding strategy has continued to drive more buyersto the Company's auctions than ever before, resulting inincreased bidding activity and higher vehicle returns for itsinsurance company suppliers.
"Combining the feedback we have been receiving from ourcustomers with our internal data, we believe our vehicle returnswere the highest in the industry during the quarter, which wefeel is a direct result of our dual bidding platform andimproved levels of customer service," said Tom O'Brien, CEO. "Onaverage, our returns have increased more than $300 per unitcompared to 2003, providing a significantly better return forour insurance company suppliers. Our live auctions, most ofwhich feature Run & Drive(R) auction lanes, are supplementedwith our state-of-the-art Internet bidding capability, givingour growing customer base the flexibility to see and bid on ourvehicles up close or through the Internet from anywhere in theworld in a real-time setting. Enthusiastic buyer support of ourauction model is clearly evident from the increase in buyerparticipation we have experienced, both at live auctions and viathe Internet. By encouraging more buyers to come on to ourbidding platform than ever before, we believe that during thequarter we were able to generate more bidding activity and thehighest vehicle returns in the industry."
Commenting further on the Company's recent operatingperformance, O'Brien said, "We haven't missed a beat throughoutthe organization since the close of the Kelso & Companyacquisition in late May. The transaction has allowed us to focuseven more of our time and energy on improving our operations andservice levels to our customers, translating into much higherreturns for our suppliers and higher profits for IAA. TheCompany generated revenues of $71.9 million in the secondquarter, compared with $60.0 million in the same quarter of2004. Gross profit margins improved to 26% in the secondquarter, up from 22% in the same quarter of last year. We alsocontinued to strategically expand during the quarter,specifically in Jacksonville, Altoona and Charleston, providingIAA with a greater geographic reach to meet the needs of ourcurrent and potential customers. Going forward we will continueto target new strategic opportunities that will further increaseour buyer base and maintain our momentum of generatingsignificantly higher returns."
S-4 Filing: Insurance Auto Auctions also filed an S-4 today thatprovides supplemental financial information to the resultsprovided herein. Please refer to this document for additionalfinancial information about the Company and its quarterlyresults.
About Insurance Auto Auctions, Inc.: Insurance Auto Auctions,Inc., founded in 1982, a leader in automotive total loss andspecialty salvage services in the United States, providesinsurance companies with cost-effective, turnkey solutions toprocess and sell total-loss and recovered-theft vehicles. TheCompany currently has 80 sites across the United States.
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Monday, June 8, 2009
Insurance Auto Auctions
Insurance Auto Auctions Inc. provides salvage processing solutions to the insurance companies and other vehicle suppliers in the United States. The company provides auction solutions for the redistribution of damaged vehicles, recovered stolen vehicles, and other salvage vehicles principally on a consignment basis or purchase method. It offers I-bid LIVE, a live auction Internet bidding solution; CSA Today system, which enables insurance company suppliers to enter vehicle data electronically and then track and manage the progress of salvage vehicles; BidFast service that provides insurers with binding bids for salvage vehicles that historically may have been owner-retained; FastTrack, a total-loss appraisal service, which identifies, appraises, and moves probable total-loss vehicles; and FastTow service that provides towing services. The company also offers its vehicle suppliers a national salvage network that allows an insurance company supplier to consign its salvage vehicles to a call center; and salvage services for specialty vehicles, such as trucks, heavy equipment, farm equipment, boats, recreational vehicles, and cars. In addition, Insurance Auto Auctions provides certain insurance company suppliers with anti-theft fraud control programs for vehicle salvage processing. The company was founded in 1982. It was formerly known as Los Angeles Auto Salvage, Inc. and changed its name to Insurance Auto Auctions, Inc. in 1991. Insurance Auto Auctions is based in Westchester, Illinois. Insurance Auto Auctions Inc. operates as a subsidiary of Axle Holdings, Inc.
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