AuctionNow™ – AuctionNow is IAA’s digital bidding platform. It has four bid status messages with color backgrounds so they are easy to recognize at a glance. They include green for “High bidder” and “Reserve off”, red for “You’ve been outbid”, and blue for “Bidding in progress.” The “Outbid” bid status persists for a given buyer as long as they are losing on that stock. IAA Timed Auctions™ – Timed Auctions is a new way to bid, buy, and get an exclusive first look at inventory before it goes to the live auction. Instead of going into a regularly-scheduled auction, vehicles in Timed Auctions are open for bidding online typically for about 24 hours before a live auction, and each vehicle has a unique deadline when bidding will end. Each vehicle in Timed Auctions has a reserve price, and the first valid bid must be placed above a certain minimum “Starting Bid” amount. For more information about Timed Auctions, view IAA's Timed Auctions Video for more information. IAA Buy Now™ – Buy Now is an immediate online purchasing option that allows you to buy select vehicles for a set price. Online Exclusive Sale - Rec Rides – Rec Rides is an online exclusive auction dedicated solely to Powersports including motorcycles, ATVs, snowmobiles, jet skis and more. Rec Rides vehicles include salvage title, clear title, repossessed, rebuilt, repairable, donated and parts-only units. Online Exclusive Sale - Specialty – IAA Specialty is an online exclusive auction dedicated solely to light, medium and heavy-duty equipment, including trucks, boats, RVs and other large or unique items. Vehicles that are not traditional automobiles or motorcycles fall under this category. Specialty items can also include cranes, farm equipment, forestry equipment, trailers, motor homes, marine craft, personal watercraft, buses, and emergency equipment.

What payment methods are available for international customers?

International buyers must submit ALL payments ONLY by wire transfer. Normally International buyers send a wire transfer with an estimated amount of the lot’s final price in advance to avoid late fees. International Banks sometimes use an intermediary bank to make the wire transfer. These banks may charge additional processing fees, separate from the fee charged by the originating bank. Please note that these additional fees will be deducted from the bank wire transfer being sent to AutoBidBroker. After the transaction is complete, please upload your payment confirmation with invoice # into your AutoBidBroker account.

Security Deposit can be used to pay for my vehicle?

No, your security deposit cannot be applied to the cost of a vehicle.

Payment Due & Penalty Fee

Payment is due the next business day after the end of the auction by 5pm Central Time. For every day that the payment is late, you will be charged a late payment fee of $100 or 2% of the sale price (whichever is greater). When you won an auction, our accounting department will send a notification with an invoice attached, the invoice will include wire transfer instructions. Payment for the vehicle can only be made by bank wire transfer, failure to complete the purchase transaction, regardless of the reason, the buyer shall remit a Penalty Fee of $400 for each vehicle sold for less than $9,000; $600 for each vehicle sold for $10,000 to $19,000 and $1,000 for each vehicle sold for more than $20,000. In addition to the penalty fee from the Auction.

National Motor Vehicle Title Information System (NMVTIS). Is the system implemented by the US Department of Justice to protect consumers, that allows the titling agency to instantly verify the information on the paper title with the electronic data from the state that issued the title.

What is Branded Title?

Title Brands indicate whether a used vehicle has sustained damage or might be potentially unsafe to drive, this information will usually be reflected in the car’s title. If the car has been significantly compromised in any way, it will be assigned a “Branded Title”. No individuals or private companies can brand titles. Title branding is handled by a state agency and it is tied to the vehicle identification number (VIN) If you have questions about title brands used in your state, we recommend contacting your state’s department of motor vehicles. Clear title: When a title is issued to an owner with no lien specified Rebuilt Salvage or Prior Salvage title: A vehicle that has been substantially rebuilt may have a rebuilt title brand issued by an insurance company, body shop, collision center, or licensed rebuilder. A vehicle with a rebuilt title can normally be registered for road use but may have an inspection requirement to verify it is roadworthy. Salvage title: When a vehicle incurs some type of loss events such as major damage, theft, or repair, the title may be designated as a salvage title. A salvage title, junk title, rebuilt title, or certificate of destruction are almost always permanent brands on the title which cannot be removed. Junk title: A title that has been sold to a junkyard may incur a junk title designation if the vehicle is intended to be scrapped or parted out. A salvage title, junk title, rebuilt title, or certificate of destruction are almost always permanent brands on the title which cannot be removed. Bonded title : Obtaining a vehicle title when there is a serious deficiency in the ownership documentation can sometimes be done using a bonded title. The bonded title will have a “Bonded” stamp in it for a period of 3 to 5 years. Reconstructed title: A vehicle that has been substantially rebuilt may have a reconstructed title brand issued by an insurance company, body shop, collision center, or licensed rebuilder. Certificate of destruction: When an insurance company has paid a claim for a vehicle and taken ownership from the insured, they have the option of processing the title as a certificate of destruction. Parts only title: A parts only designation is typically found on a bill of sale or transfer form, not on a title. However, if a parts-only bill of sale is submitted for vehicle title processing, the title may be issued with a salvage brand or other cloud on the title.

What are the Damage Codes?

“ Damage Codes ” are for reference only, these codes are indicated by the auction yard that is auctioning the vehicle. The auction company expressly disclaims the accuracy of Damage Codes, as information may not accurately reflect the type or extent of damage to any vehicle. Damage codes are an indication of the primary impact area or damage to a vehicle. All Over : Damaged in multiple spots Engine Burn : The engine caught fire Interior Burn : The inside of the vehicle caught fire Exterior Burn : The outside of the vehicle caught fire Total Burn : Vehicle has burn damage all over Front End : Damaged by collision and has the front end bad Electrical : Vehicle has damage to its electrical system Mechanical : Damage includes but not limited to the transmission or the engine Normal Wear & Tear : Typically in good condition Strip : Parts missing from the vehicle Unknown : Cannot accurately be represented Bio Hazard : Chemical contamination Frame : Damage or compromised frame or chassis Hail : Damaged by hail Rollover : Damaged by collision which it rolled over. Right Side : Visible damage to the right side of the vehicle includes wheels and tires Right Front : Visible damage to the right front of the vehicle Right Rear : Sustained damage to the right rear, including but not limited to rear quarter panels Roof : Damaged to the roof, doors, or tailgate tops Undercarriage : Damaged underside including but not limited to the frame, body, axels, fuel tank, suspension. Vandalism : Damage related to theft and break-ins Flood : Damage by water Salt Water : Damage by salt water Flood : Vehicle has damage from a flood Storm Damage : Damage done by a storm Suspension : Damage to vehicles suspension can be front or rear Theft : Visible damage to vehicle from theft Transmission : Vehicle has damaged transmission None : Vehicle has no damage

Understanding the documentation Process

Buying with AutoBidBroker is a very simple process, and also the documentation process is very simple too. After you pay for your vehicle, you need to sign the Bill of Sale paperwork. The auction company will send the ownership documents to the AutoBidBroker office, and AutoBidBroker will process a reassign to your name and then send to you all the original vehicle documents via FedEx. Due to laws in certain states, it may take more time to process the documents. Please note that you are responsible for taking the documents to your DMV and processing registration per the state laws. It is the customer’s responsibility to make sure that they will be able to register the documents in their state. AutoBidBroker cannot guarantee the registration to the customer. If there is any problems with the registration and the mistake is made on our end, our titles department can issue an affidavit of correction, if the mistake is on the auction’s end, we will request them to issue an affidavit.

There are a variety of different ownership documents that each state can issue to a vehicle, each state maintains information on their websites. Title types denote the ownership document that will be transferred to the buyer. Clean title – no history of damage with an insurance company Salvage title – the damage was reported to an insurance company that was no longer worth a clean title Rebuilt – after a vehicle is fixed the vehicle earning a salvage title and has gone through state inspections Parts only – vehicle that only can be dismantled for parts Certificate of Destruction – parts only vehicle in the US, can be exported outside of US

How long will take to receive the ownership documents?

The “Ownership Documents” should arrive within 2-5 weeks from the Sale Date depends on the State, California, and Florida takes up to 90 days due to States Regulations. Once payment is made, and the “Purchase Agreement” and “Bill of Sales” has been signed, the ownership documents will be sent to AutoBidBroker from the auction company yard, where we will be placing in your name, and then sent by FedEx to the mailing address we have on file. An email notification will be sent with a tracking number when the documents are sent.

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