Car Insurance Auction, Should You Buy From One?

By Ben Shar

Are you thinking of buying from a car insurance auction? Do you know that there are different insurance companies that have auto auctions and if you are looking to get a new car for yourself or if you just enjoy collecting cars or buying at good deals to resale, you can find what you need and want from a car insurance auction? These auctions are typically held by car insurance companies that are stuck with automobiles that their insurance policy holders have claimed as totaled and not worth the repair. The insurance company gives the policy holder a payoff and they then take the car and attempt to auction it and make some of their money back.

There are different types of car insurance auctions. For example, insurance companies often auction off totaled vehicles. As you can understand, they want to get as much as possible from their auctions so they can recoup some of their losses from a totaled vehicle. But what kinds of people want to buy these totaled vehicles? If someone owns an auto repair or body shop, they might want it for parts or if you are a collector that enjoys cars or enjoys fixing up cars, you might want to get a great deal at a car insurance auction.

When deciding whether or not you should buy from a car insurance auction, you need to consider what type of insurance auction it is, how much you know about cars, what you are purchasing the car for, etc. Take all of these factors into consideration so that you do not get a car that you can not use and end up with wasted money. Insurance auctions are typically best for people that are in the automobile industry or know something about cars. These cars are almost always sold "as is" although there may be partial extended warranties included in some cases. Just make sure you read all the fine print and fully understand how the insurance auction process works.

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Vist http://www.car-auctions-1.info for more information.

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