El camino on the block right now for 2k buy it now.

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Post by Joe73 on Tue Jun 18, 2019 11:00 am

$2,000 buy it now for a pretty decent el camino on iaai.com.  Its on the block right now with no bids.

https://www.iaai.com/Vehicle?itemID=32434883&rowNumber=5&loadRecent=True


El camino on the block right now for 2k buy it now. Resize11

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Post by Limey SE on Tue Jun 18, 2019 11:57 am

car sounds like was repo'ed But cant get to start, looks like had some good work done to it Could resell the wheels and make almost NOT all almost half of the Buy now price if true weld wheels

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Post by Joe73 on Tue Jun 18, 2019 12:04 pm

Yup, says it was a repo.
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Post by Hawk03 on Tue Jun 18, 2019 8:40 pm

IAA specialty is salvage cars from Insurance companies. They will also allow repo's in their yards. I think you have to be a dealer to buy from IAA so its not open to the public.

It's an efficient business and IAA is about to be come it own publicly traded company at the end of this month.
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Post by Joe73 on Tue Jun 18, 2019 9:05 pm

Some of their vehicles are open to the public. I've purchased (5) vehicles from iaai in the last 10 months. I'm looking at a 2019 buick right now. Havent purchased from Copart.com yet.
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Post by Limey SE on Tue Jun 18, 2019 9:18 pm

Buy Now SOLD
This stock was sold on JUN-18-2019 4:36 pm CDT

Who Can Bid:


Dealer

Dismantler

Rebuilder

Scrapper

Exporter

These were the Only one that could of Bid on this one it was in there exclusions

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Post by Mcarlo77 on Wed Jun 19, 2019 9:06 am

What would dictate which vehicles can be bought by the general public vs dealers/dismantlers/rebuilders/ etc?
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Post by Limey SE on Wed Jun 19, 2019 10:54 am

If repo'ed I don't understand why the public couldn't buy this one I would like to know what determines it also I will a friend that does insurance

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Post by thatfnthing on Wed Jun 19, 2019 11:36 am

What I'm curious about is what's to stop you from simply pretending to be a dealer, exporter, rebuilder, dismantler, etc -- do each of those things require some kind of license that you'd have to show as proof?
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Post by Joe73 on Wed Jun 19, 2019 11:56 am

Yes, before you can bid you have to register with iaai. Its a $200 fee good for one year. Then you can bid on public auctions. In order to bid on any other auctions, you must enter your dealer license/reseller license info. And if your bidding on something in another state, you have to file paperwork for that as well. Its actually not that difficult. I had to update my buddies paperwork since he doesnt like iaai as much as copart. But I bought all mine through iaai and had no issues. So yes, you have to supply copies of all your state licenses in order to bid. BUT, even if your not a dealer, iaai has recommended dealers on their site that you can sign up with to purchase for you. They usually charge between $175 and $250 to purchase a vehicle for you. After you finish paying them the winning bid plus the other iaai fees and their fee, they send you the paperwork. There are quite a bit of fees for these auctions. A vehicle won between 5-10k will run around $750 in fees. Thats just fees, not any towing or anything. And btw, iaai delivery fees are pretty reasonable. I had a car delivered from the philly auction to queens, ny for $300. Wasnt worth my time, fuel and tolls to get it myself.
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Post by Hawk03 on Wed Jun 19, 2019 7:29 pm

Joe73 wrote:Yes, before you can bid you have to register with iaai.  Its a $200 fee good for one year.  Then you can bid on public auctions.  In order to bid on any other auctions, you must enter your dealer license/reseller license info.  And if your bidding on something in another state, you have to file paperwork for that as well.  Its actually not that difficult.  I had to update my buddies paperwork since he doesnt like iaai as much as copart.  But I bought all mine through iaai and had no issues.  So yes, you have to supply copies of all your state licenses in order to bid.  BUT, even if your not a dealer, iaai has recommended dealers on their site that you can sign up with to purchase for you.  They usually charge between $175 and $250 to purchase a vehicle for you.  After you finish paying them the winning bid plus the other iaai fees and their fee, they send you the paperwork.  There are quite a bit of fees for these auctions.  A vehicle won between 5-10k will run around $750 in fees.  Thats just fees, not any towing or anything.  And btw, iaai delivery fees are pretty reasonable.  I had a car delivered from the philly auction to queens, ny for $300.  Wasnt worth my time, fuel and tolls to get it myself.  

Most dealers should be registered with Auction Access, which gives them a number that they use to register at auctions and with banks. This number will follow them through all of their transactions. This will allow auctions and banks to know what their max credit limit should be and if they are close to maxing out their limit.

Its a cash machine! Sometimes the buy fees are higher than the cost of the vehicle. The company is undervalued being a part of KAR and investors were getting upset that the remaining companies of KAR were bringing down the valuation of IAA. A lot of their buyers are from other countries since its cheaper to buy a totaled car here and have it shipped. The totaled car could just have blown air bags but since other countries might not require them, its not a big deal.
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