What do the different auction sale status types really mean to you?

As you search for vehicles and place bids, it’s helpful if you’re familiar with the sale status types that are assigned to each lot, this may or may not affect your bidding decision.

Pure Sale –  The seller has not set a reserve price. This lot will be awarded to the highest bidder at the close of live auction. The highest bid wins!

On Minimum – The seller has placed a reserve price on the lot. If the minimum bid is not met during the live auction, the seller has until 6:00 pm PST one business day after the sale to accept the current high bid or decline the sale.

On Approval – The seller has reserved the right to approve the final high bid achieved during the live auction. The seller has until 6:00 pm PST two business days after the sale to approve the bid. The high bidder is obligated to purchase the vehicle if their bid is approved by the seller within the approval period.

Choose what sales status best fits your needs then Bid it to Win it!

Posted by Autobidmaster.com on Monday, February 19, 2018

 

The best way to get a great deal at auction is to self-educate yourself on the process by knowing what each term means and conduct an inspection. Once you have done your homework and you are ready to bid, enjoy the experience of participating in auction bidding and buying.

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Why You Should Get A Vehicle History Report Before Bidding

AutoBidMaster.com

When you’re on the search for a salvage car from AutoBidMaster, it’s important to do some research before placing your bid. An important step of the research process is to get a vehicle history report, also called a Vehicle Identification Number (VIN) Report. Here are some of the things you can expect to find in one of these reports.

Title History

Along with the insurance history, it’s important to know if a car has been slapped with a branding that may make it difficult to register in your state. A vehicle history report will let you know if it is a clear or salvage item, if it has ever been rebuilt, vandalized, or encountered any types of damage, along with any other sort of branding. After learning the branding of a car, contact your local DMV to find out what it will take to register this car, before making your purchase.

Insurance Records

Learn if an insurance company has previously declared the vehicle a total loss. If so, you will want to make sure it was later rebranded as a rebuilt or salvage car. This will also give you an indication if the vehicle has been involved in any accidents that may result in costly repairs down the line.

Lien Information

Discover if any banks or insurance companies hold a lien on a car before buying it. A lien indicates if there are any outstanding load balances on a car. If there are, it means the lien holder owns the car until the lien/loan is paid off. So make sure you’re aware of any liens before making a purchase. This will also impact you if you’re looking to export a vehicle out of the US, as many countries will not allow you to import items with a lien.

This information is available in a vehicle history report and will help you make the right choice when bidding on a car from AutoBidMaster. We make it as easy as possible for you to get this information by partnering with one of the most reputable VIN report companies, ClearVin. Just look on our lot listing pages, and next to the VIN number you’ll see a link to ClearVin.

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Online Auto Auctions = The Best Selection & Value

AutoBidMaster

An online auction is the place where you can select from the widest range of cars, trucks and other vehicles. You can select from over 100,000 cars here! (We have a very large garage.) Another advantage is that you can select from salvage vehicles; those are the best deals.

Salvaged cars can be repaired so that they are drivable, or even be parted out to make repairs on another vehicle. Of course, a salvage vehicle needs some level of repair to make it roadworthy. Yet, even after including the repair cost, it can be an amazing value.

We at AutoBidMaster make shopping for a salvage car as easy as it can be. Our website holds hundreds of auto auctions in one location. This allows members to place a bid on any vehicle that they wish to buy. Moreover, members can bid from the comfort of their home, at any time of day. With the help of AutoBidMaster, you can buy the car of your dreams.

Get started today at AutoBidMaster.com, and if you haven’t already, register for one of our three membership levels—two of them are free! Give yourself the chance to get the best selection at the best prices.

If you need help, our experienced support team can answer all of your questions. Email us at Support@AutoBidMaster.com, or call 1(503)298-4300.

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A Look at the 5 Best Hatchbacks Ever Made

Though the concept of small cars was first introduced in 1930s, the term “hatchback” started doing circles during the 70s. Ever since their introduction, hatchbacks, commonly called small cars, have been extremely popular among car buyers. The hatchback segment gave buyers the comfort of a luxury car in a smaller and more economical package. From the classic Simca 1100 TI to the fast and gripping Renault Megane, numerous hatchback models have gained rave reviews from car enthusiasts over the years. If you are planning to participate in a can auction online, check out this list of five of the best hatchbacks ever made.

Cars at Online Auction

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4 All-time Gas and Electric Cars that Deliver High Mileage

Fuel efficiency is one of the main factors that Americans consider when buying vehicles. A car with high mileage not only saves money but also reduces oil dependence cost, increases energy sustainability, and reduces your carbon footprint. The demand for fuel-efficient vehicles has grown more than ever, and most cars in the market have a decent mpg. If buying a new car is out of question, and you are looking for gas-efficient models at Dallas car auctions or anywhere else across the U.S., we list the top four models to consider.

High Mileage Cars

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The Definitive Guide to Buying Wrecked Cars for Sale

The Definitive Guide to Buying Wrecked Cars for Sale

Wrecked car auctions feature salvage vehicles that have sustained damages or have been repossessed by law enforcement authorities. However, you can also find many salvage cars for sale with minimal damage. Investing in these vehicles can be a prudent decision, given the fact that many such cars have minimal damages and are available at unbelievably low prices. Making the right picks, however, can be a tricky affair. That’s why we have put together this brief guide to help you find wrecked cars for sale that deserve your investment. Read on. (more…)

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How Auto Auctions have changed Car “Death”

Have you ever wondered where cars go when they are damaged to the point of being unusable? I’m talking about those mangled heaps of twisted metal, the burnt-to-the-ground frames, and the stripped shells. Perhaps you’ve been in an accident and have had an insurance company pay you for a totaled vehicle so that you can get a new one. But where does the totaled car go after that?

Truthfully, many of these cars will end up at the junkyard. However, many of them, especially if the insurer thinks they might be worth something, end up in auto auctions. Auctions are great for damaged vehicles because the purchaser can determine how much they are willing to pay for the vehicle, and pay no more than that cost. Sellers choose to use Auto Auctions because they know they are getting the best price possible to recoup their loss. Amazing deals can be found at auto auctions, and the process of bidding can be a lot of fun! After a vehicle has been written off by an insurance company, the former owner may likely consider the car to be “dead.” In reality, this is just the first step in a whole new life for that vehicle.

Cars purchased with AutoBidMaster often gain a whole new life. Vintage cars are restored and rebuilt to show off the original stylization that we see so rarely in modern day vehicles. Muscle cars are combined with pickup trucks to create one-of-a-kind transportation. Old industrial engines are used to power newer frames. Sedans are repaired and provide transportation for a new family. Beautiful classics are used as garden planters. The possibilities for new life are endless. Salvage cars are used in many of the same ways as new cars, but also so many more.

So often death is considered to be an end, a narrowing of possibilities. But with Copart Auto Auctions, the possibilities only grow when a vehicle received a salvage designation. To new life after “death.”

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Gap Insurance vs. Loan/Lease Payoff

GAP Insurance covers what regular insurance doesn't coverIf you’ve recently purchased a car using financing, you’re probably looking at these types of insurance. In fact, if you bought your car from a dealer, there’s a good chance they talked to you about or sold you some GAP insurance to go along with your car. That’s because if you took out a loan or financing to buy your car, this type of insurance will cover you in the event of your car being totaled.

GAP Insurance and Loan/Lease Payoff both work on the same principle. Cars depreciate in value fast, just driving a car off the lot takes its value down a significant margin. Any loan payments you have to make on that car, however, do not depreciate. This means that when you total your car and your insurance company pays you the value of your car, it’s going to be less than the financing you took out to get the car, leaving you with no car and financing bills to pay off. GAP Insurance and Loan/Lease Payoff do exactly what they sound like in that situation, they cover the gap and pay off your loan.

As an example, say you really want that new BMW with the $25,000 price sticker and you decide to buy it. In order to ease the down payment you decide to take out a large loan of $20,000 and purchase the car. You now have a $25,000 car with $20,000 in financing to pay off. You drive off the lot and get back to your house when disaster strikes! Strong winds caused a tree to fall on your car and total it. Your insurance company decides that your car was worth $16,000 once you took it off the lot, so they cover that much towards a new car. But you still have $20,000 in financing to pay off, what do you do?

If you have GAP Insurance of Loan/Lease Payoff, you let them know what happened and they cover the other $4,000. GAP Insurance has the added benefit of often times paying for your insurance deductible as well, so there is no out of pocket cost for you to replace your car.

Both of these types of insurance are fairly cheap and widely available. If you ask for GAP Insurance while purchasing a lease, it can be included in the agreement. Often times it’s better to get outside insurance, but this isn’t a bad option. Considering how common low or no down payment vehicle options are becoming, it’s even more important that GAP Insurance is purchased and used.

Now that you know the idea behind these two types of insurance, let’s talk about what differences they have.

GAP Insurance:

  • will cover any difference between the value of your car and your financing
  • will most likely cover your deductible
  • can only be bought soon after purchasing a new car (often there is a 30 day window)

Loan/Lease Payoff

  • will cover up to 25% of the value of your car
  • will not cover your deductible
  • can be bought any time after purchasing your car
  • cannot be applied to a loan from an individual

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Help I Hit A Deer!

Car Hit DearYou’re driving on a long road trip, it’s getting late and the sun it starting to set. You’ve been driving through the woods for a little while now and you’re getting a bit tired. Suddenly you see your headlights reflect off the eyes of a deer in the road in front of you! What do you do?

The correct thing to do is to drive straight and slow down as quickly and safely as possible. Opposite of some common beliefs, swerving increases the danger of the whole situation and accelerating makes any crash significantly worse.

Hopefully that’s enough to prevent an accident from happening, but over 247,000 times a year it isn’t. You need to know what to do if you end up in an animal related accident. As with any accident the first priority is safety.

  • Check on everyone in the car
  • Turn on your warning lights
  • Get your car off the road if possible
  • Put out flares if you have them to warn other drivers to be careful
  • If anyone is injured call 911 immediately

At this point you need to call the authorities, in many states it’s illegal to drive away from an animal related accident. From this point on, follow the same procedures we laid out in our “Car Insurance Claims 101” post.

The question you should be asking at this point is whether or not your insurance covers the collision with the deer. The answer is: it depends. You should talk to your insurance company about what type of insurance covers an accident where nobody is at fault. Insurance companies will offer “Comprehensive Insurance” which covers these types of accidents. If you live in an area where an accident like this may occur, it’s worth looking into what your insurance provider’s Comprehensive Insurance plan is.

The average deer-car collision costs $2,800 in repairs, not to mention the time and trauma associated with an accident. As with anything bad, prevention is the best solution. But how do you prevent hitting a deer? They seem to come from nowhere! There are a few things you can do and look out for to give yourself the best odds to avoid a deer and also to avoid hitting a deer when you do see one.

  • Deer are nocturnal, they come out during dusk and dawn. Pay close attention during these times!
  • When there is no oncoming traffic, have your headlights on their brightest setting. This will allow you to see further ahead of you and see the reflection off the deer more easily.
  • Don’t speed! Everyone knows this one, but many people speed anyway. When you’re driving for a long time and in an area with lower speed limits, this is critical. The speed limits are lower in order to give you more time to react to a potential animal collision.
  • Don’t drive distracted! Another one everyone knows. During these high risk times, make especially sure you’re paying attention to the road. Don’t have your phone out or touch your radio.

Getting into a collision with a deer is a serious risk. It happens 247,000 times a year, causing an estimated 200 deaths per year. When you’re driving, please be careful and aware of your surroundings in order to prevent more of these accidents.

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Car Insurance Claims 101

The damage that can be caused by a front-end collisionKnowing what to do and what not to do after an accident could be the difference between a settlement falling in your favor or not. There are some basic steps you can take to significantly increase the odds of everything going your way. The most important thing directly after an accident is getting off the road and to a safe location. Call 911 if anyone is injured. If your car is still in working condition, get it off to the side of the road to prevent more accidents from occurring. Once you’re safe, you want to maximize your odds of winning an insurance claim. It is a good idea to carry a copy of your insurance provider’s accident report claim in all of your vehicles to make this process easier. Our “Post Accident Checklist” is a good tool to keep around as well in order to help cover all your bases after an accident.

Document the Accident

When you file a claim with your insurance provider they will send an insurance adjuster to inspect your car and the damage cause from the accident. There are a few things you can do at the scene of the accident to make their job both easier and win your claim.

  • If the police come to the accident, make sure they file a report and you get a copy of the report.
  • Gather as much information as you can about the other drivers and their vehicles. This includes names, driver’s license and license plate numbers, as well as if the year, make, and model of all the vehicles involved.
  • Gather the contact information of any witnesses (passengers, pedestrians, and even the police). Do not discuss who is at fault! This can affect the settlement.
  • Take photos and video of the vehicles involved. Get multiple angles from multiple distances of the vehicles. Make sure to stay safe and out of traffic while doing this!
  • Write down notes about what happened, memory is hazy and not relied upon in court. If you have to testify about the accident, having things like the speed you were going, the condition of the road, what happened the few seconds before the accident, and anything significant that happened after the accident can save your settlement.

The Insurance Adjuster

After you submit your claim, your insurance company will send an adjuster to inspect your car as well as gather information about the accident. How much information they gather will vary from claim-to-claim, but there are a few general things they will ask for and do.

  • The police report that was filed
  • Contact the other driver and witnesses
  • Visit the scene as well
  • Check your vehicle for damage as well as take their own picture of your vehicle (yours aren’t going to waste, don’t worry)
  • If you filed for medical expenses as well, they’ll ask for a medical release form and talk to your medical providers regarding your claim

Once the insurance adjuster had finished investigating your claim, your insurance company will determine how much money to give you for repairs and send you a check. If your claim only involves physical damage (no medial claim), you may have your repairs completed at an auto shop they approve of. If that is the case, they will send the check to the auto shop instead of to you. If you are confused or disagree with the amount they’ve paid you for repairs, call your adjuster. They are there to explain the process to you in detail and may end up paying more for your repairs if you call them.

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