I remember searching insurance auctions online a while back; and found a
couple that simply required you to subscribe to them to be able to buy & or
bid on thier things.
Aaron Wyse
----- Original Message -----
From: <Walt@Walt-n-Ingrid.Com>
To: <dakota-truck-moderator@bent.twistedbits.net>
Sent: Friday, November 04, 2005 10:51 AM
Subject: Re: DML: How to go about buying a wrecked truck
>
> That's a possibility but it depends on the auction yard. Most will
require you
> to have or be with someone who has a Dealer License. Insurance auctions
> generally are not open to the general public though that are.
>
> One of the biggest insurance auctioneer companies is Copart
> (http://www.copart.com). They used to pick up about 95% of the totaled
> vehicles from my shop when I was still in the towing business. Copart's
> auctions are not open to the general public but the public can open a
buyer's
> account with them. I don't know what the requirements are but I would
assume
> it would involve some sort of credit check and probably some upfront
capital.
> In reality, the insurance companies don't want the general public to have
> access to complete, total loss vehicles to prevent any funny business.
They
> prefer the vehicles get purchased by auto recyclers and parted out. And
many
> recycler yards wont sell complete vehicles since they're worth more in
parts
> than as a whole.
>
> Copart has a location near me in New Britain, CT. I used to sub-contract
for
> them, with my carrier, from time to time when they had a heavy workload.
>
> Another huge auction yard is Southern Auto Auction
(http://www.southern-aa.com)
> in East Windsor, CT. But they deal mostly with dealer trades, lease
turn-ins
> and repossessed vehicles. I used to drop stuff there all the time.
They're
> not open to the public and you need to be a registered licensed dealer to
even
> get in the gates. The place is Huge! 300+ acres and dealerships throughout
the
> entire eastern US channel stock through there. Transports pulling in and
out
> 24hrs a day with Wed being Auction day. Complete zoo on auction day but
cool as
> hell if you can get in. I bought my 83 Dodge conversion van there back in
87
> for $3000. I got in with a frind who was an auto wholesaler. Drove the
thing
> for an additional 150k and got $3000 for it from the insurance company
when it
> was totaled from being rear ended in 94.
>
> If you have the contacts to get into one of those auctions, you can find
some
> decent deals there.
>
> Walt
>
> In article <dkfvs8$m9o$1@bent.twistedbits.net>, sneezer@gmail.com writes:
> > Best option is an insurance auto auction. If you are close to a major
> > metropolitan area there is usually one or two out there. When an
insurance
> > company pays for a totalled vehicle, it is then transferred to a salvage
> yard.
> > These yards sell the complete vehicle at pennies on the dollar.
Sometimes it
> is
> > done in an auction format, other times by soliciting bids. Each state is
> going
> > to be different on how a salvage title is handled. Some states do not
even
> have
> > a provision for declaring a vehicle as salvage. Others do not transfer
from
> > state to state. Thus a vehicle salvaged in one state may be retitled in
> another
> > with a clean title. It depends on the state though. You can always get
> > insurance on a salvaged vehicle, but you may be limited to liability
only, no
> > comp/coll due to the salvage. If it has a rebuilt/recertified title you
can
> > usually get comp/coll, but the value of the vehicle is significantly
lower.
> > Where a non salvage vehicle may have an ACV of $15k, a rebuilt may be
$5k.
> None
> > of this applies if you are looking for a parts truck though.
> >
> > You might get lucky finding someone on one of the boards or ebay, but
chances
> > are it won't be close. Figure $1-2k to transport a disabled vehicle.
> >
> >
> > Kevin
This archive was generated by hypermail 2b29 : Thu Dec 01 2005 - 10:10:44 EST