IAAI Auction Questions from a Newbie

[CKN]

Anybody know what the RAV4 sold for?

 

[dishdude]

Anybody know what the RAV4 sold for?

$16,100 + $1,476 in fees = $17,576

$8,422 savings over Carmax which we all know is on the high side.

https://www.carmax.com/car/24538083

 

[CKN]

$16,100 + $1,476 in fees = $17,576

$8,422 savings over Carmax which we all know is on the high side.

https://www.carmax.com/car/24538083

I said it would be pushing 20grand. I wasn't that far off.

Thanks BTW.

 

[macarose]

You usually get what you pay for However it's not all gloom and doom. Check out the interesting story over at NPR. A journalist was contacted by an automotive mechanic from Turkmenistan. He said that a client of his purchased a one-year-old Lexus RX and he couldn't understand why America would throw out a 7k mile vehicle. It was a flood branded vehicle in the New York hurricane. It needed fluid changes and the carpet cleaned but ran fine.

I was actually interviewed for that story. My name is Steven Lang.

Long story short on IAAI, unless you're planning on opening your own body shop with employees under the table or can export it to a developing country and have the labor done for pennies on the dollar (and retail it in that country) don't bother with IAA vehicles.

Salvage auctions are a very different game. I have bought no more than a few over the last 20 years and those were mainly to access hard to find parts combined with a multitude of body parts that were needed for repossessed vehicles.

Charity vehicles can be profitable but you have to spend a lot of time on site and do a lot of research. I find them a lot easier to buy at dealer auctions.

 

[loneryder]

For the not so faint of heart.

Used Daytonauto 2000 Dodge Dakota V8 Magnum | ShopGoodwill.com

shopgoodwill.com

So "no dash lights on", does that mean they don't work or there are no check engine codes??

 

[twouvakind]

So "no dash lights on", does that mean they don't work or there are no check engine codes??

Look at their current offerings, a couple say the same thing. I take it to mean no check engine light in Goodwill auction speak.

 

[RhondaHonda]

When I would inspect vehicles as an adjuster I always contemplated buying one that I had totaled from Copart or the owner. I had access to the owner, new the facts of loss, had experience finding damage, and knew people that would do body repairs on the side. I STILL didn’t take that chance. We totaled cars that were repairable all the time that would’ve been solid candidates. Reasons would be: length of repair time, a single part being on national backorder, owner far away from home when a wreck occurred, fear of a giant supplement, high salvage value on the damaged vehicle, etc.

Understand you may be throwing away your money if there’s some major issue you don’t see or can’t possibly be aware of. But…the majority of them were running and driving at some point and are likely repairable with the right amount of work. Also, as GON said, I’d stick to cars being sold by insurance companies exclusively.