Insurance Auto Auctions, Inc. a salvage auto auction company, is launching a Vehicle Remarketing Division. The unit will work directly with vehicle sellers ranging from national rental car companies to vehicle financing institutions and local used car dealers, offering them a single point of contact to sell vehicles through IAA’s 151 locations.
“In our analysis, we’ve found that vehicles that have high-mileage, light damage, have been repossessed, are in arbitration, or do not show or sell well in the whole car auction, deliver significantly higher returns from IAA’s salvage auctions,” said division director and car industry veteran Robert Guerrero. “We are focused on those vehicles that simply do not perform well at whole car auctions, but traditionally have not been placed in salvage auctions.”
While the whole car auction requires units that are in top condition to bring top dollar, in a salvage auction, vehicles that have less damage and more salvageable parts deliver better returns for sellers.
Source: Insurance Auto Auctions, Inc.
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