Salvage Car Auctions and Insurance Auctions Spokane WA
Airway Heights, WA
Salvage Car Auctions and Insurance Auctions
Auto insurance companies buy and sell cars? It's true. However the cars are those that have been wrecked, weather damaged, or stolen, meaning that the insured owners of those vehicles have been paid by the insurance company after the vehicles have been declared total losses (totaled). The company attempts to recover some of its money by selling the vehicles, usually at salvage auction through an insurance salvage auction company.
Bargains at salvage auctions
It is possible to find outstanding bargains and relatively cheap cars by knowing how insurance salvage auctions work and where to find them. In many cases the cars are in great shape and need little or no repairs. Salvage and totaled cars can often make great project cars.
A large car dealer in Texas had most of his new cars partially under water during a recent flood. The dealer's insurance company decided to declare all of the cars as total losses and paid the dealer. The insurance company then became the owner of the cars, some with major water damage and some with almost no damage. The company will sell the cars at auction with salvage titles. Smart buyers can pick up the cars, often at bargain prices, and repair them to resell or drive as their personal cars.
Another example: An insurance company's customer had his new car stolen. The police were unsuccessful in locating the vehicle. The insurance company paid the customer the cash value of the car. A few months later,...
Spokane , WA
Every Tuesday at 9:30 AM PT
Monday preceding the sale from 8:00 AM-4:30 PM PT
Mon - Fri: 8:00AM-5:00PM PT
Sat & Sun: closed
Mon - Fri: 8:00AM-4:30PM PT
Sat & Sun: closed
Additional Information: Public, Dealer and Dismantler members welcome. We accept up to $500 in cash per/buyer per/day in addition to cashier's checks and money orders. Company checks are accepted on a pre-approved basis for our Dealer and Dismantler members. Units must be paid for by the close of business the Thursday following the sale or be subject to a $50 per/car late fee. Units must be removed by 4:30pm the Monday following the sale or be subject to a $25 per/car, per/day storage fee.