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How do you buy a car from an insurance auction?
I run a mechanics program at a high school and want to buy some cheap parts. I know you can get those for a pretty good price from insurance auctions, but I’m not really sure where to start. How do I buy a car from an insurance auction?
Will Baldwin · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
It’s great thinking on your part to check out an auction! To buy a car at an insurance auction, you’ll want to look up general auto auctions online or in your area.
Insurance auctions are usually held as part of general car auctions, and often sell off repossessed, totaled, impounded, and abandoned cars. They’re usually advertised in your local newspaper or online, but you can also call your local tow yard if you don’t see a local auction advertised. If you can’t find an auction near you, you’re still in luck—these days, many auto auctions are held online so that you can participate from home.
Many of the places that hold these auctions will have a description of the vehicles, their current condition, and anything the buyer may need to know. However, you should feel free to ask questions about anything you don’t see mentioned.
Since most of these cars are totaled, they will be sold under a
salvage title
. If you’re getting these cars for cheap parts, you won’t need to worry about this. However, if you find a car that you want to refurbish instead of strip for parts, it’s important to keep in mind that you’ll need to get it a refurbished title if you want to insure it.To easily get the best deal on the coverage you’ll need on a refurbished car, check out the
Jerry
app. We’ll get you customized quotes from top insurers in seconds, so that all you need to do is pick the plan that works best for you. And once you choose one, we’ll even help you switch!Happy shopping!
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- Gregory R.
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