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Make a fully refundable security deposit of $600 minimum or 10% of your desired bid.
IMPORTANT: Bid N Drive is a used car broker service for purchase of vehicles from many auctions, including Insurance Auto Auction. If you intend on buying vehicles in bulk from Insurance Auto Auction (IAAI), we can offer direct auction access under our license. This will allow you to place pre-bids on the IAAI auction website and participate in live bidding without any restrictions. Please email us a request if you are interested in opening a direct account. In order to make bids, you will be required to pay a refundable deposit of 15% of the transaction price (no less than $1,000) and a non-refundable annual fee of $100.
Before placing a bid or purchasing a “Buy Now” listing, you will need to make a FULLY REFUNDABLE security deposit of 10% of the proposed bid amount ($600 minimum deposit required). The deposit confirms serious interest in making a vehicle purchase. Security deposits can be returned upon request any time prior to purchase.
Please note that the security deposit is a separate transaction outside of vehicle purchases. This deposit will not apply to any costs associated with purchasing a vehicle and will be refunded once purchased vehicle has been paid for.
For deposit payment, we accept credit cards, debit cards, bank wire transfers, or direct deposit to our account at Chase bank. Please check with your bank to learn more about their policies, procedures and fees for wire transfers. To avoid delay, please ensure that you include your full name, deposit amount, and your bidder number so that your account can be credited as efficiently as possible.
Each vehicle will require a separate deposit. If you want to place a bid on two vehicles, you will need to place a deposit of at least $600 per vehicle ($800 total deposit). With a deposit of $800, you will be able to bid up to $4,000 for each vehicle. To place a higher bid, you will need to deposit 10% of the maximum bid for both vehicles. For example, if you wish to bid $7,000 on one vehicle and $6000 on another, you will need to make a total deposit of $700 for the first vehicle and $600 for the second, with a combined total of $1,300.
In order for your account to be considered active for bidding, you will need to maintain a minimum security deposit balance of $600. If you choose to close your account, you will be entitled to a full refund of your security deposit, less any associated transaction fees.
If you do not successfully bid in the auction or complete a “Buy Now” purchase, your security deposit can either be applied toward another vehicle’s security deposit or be refunded upon request. No portion of the security deposit may be applied toward the cost of a vehicle.
Note: IAAI registration fee $100 will not be refunded. Please note that security deposits will not be refunded if there is an outstanding balance on your account. There will be a $40 transaction fee to refund security deposits through wire transfer.
Use our detailed search criteria to scan our database of over 100,000 vehicles to find your perfect car, truck, van, ATV, motorcycle, or other!
Place your maximum bid, which will remain private unless you have been outbid.
Our database offers a considerable variety of vehicles available for purchase in the United States. We provide many types of vehicles, including cars, trucks, vans, ATVs, bikes, and more. With our extensive network of vehicles, you are sure to find exactly what you are looking for. You can search our database for the specific make, model, year and color car that you desire. If you don’t have an exact vehicle in mind, you can browse through our database to see what catches your eye. With the number and variety of cars we have available, we are confident that we have something for everyone.
The highest bid in the pre-bid round will either be submitted to the live auction or presented to the seller for approval. If you would like to purchase a vehicle you will need to place a pre-bid. The highest pre-bid will not necessarily win the vehicle. It is possible to be outbid in a live auction or for a bid to not meet seller's minimum requirement. You are encouraged to bid the highest that you are willing to pay for the vehicle to minimize the chances of being outbid or having your bid rejected by the seller. If no one outbids you at the live auction and your bid meets the seller’s reserve price, you can potentially win the car for less than your maximum bid. For example, if you bid $7000 and the reserve price is $4000, you will win the car for $4000 if no one else bids against you. We will not disclose your maximum bid in a live auction unless you are outbid.
Please be certain that you are bidding on the correct listing and for the desired amount before confirming your bid since bids cannot be retracted, decreased, or cancelled. If your bid wins at live auction or is accepted by the seller, you will need to submit the full payment or you will forfeit your security deposit. The seller may agree to accept a price that is lower than their reserve, but they are not required to do so.
Certain listings have a “Buy Now” feature. These vehicles can be purchased immediately for the listed price without going through the bidding process. You will still need to pay an auction fee on these types of purchases. After completing your purchase, you will receive email confirmation with an invoice for the purchase. Please be sure about your purchase before choosing “Buy Now” as the sale is binding. If you do not submit full payment, your security deposit will be forfeited.
You can order a professional report and additional pictures for additional fee.
Pay for your vehicle and applicable fees by 5PM PST the day after the auction.
Our transaction fees:
Documentation and mailing fee is a flat rate of $99.
Once your purchase has been confirmed you will receive an email containing an invoice for your purchase. The invoice will include all of the necessary costs to complete your purchase, including the cost of the vehicle, auction fees, cost of transportation from auction site to your delivery location ( if you order it ), document transfer and mail fee, service fees. Our fee is $295 for vehicles under $3000, $395 for vehicles over $3,000 to $13,150, and 3% for vehicles above $13,150.
The payment is due 5 pm PST the next day after the auction to avoid any possible storage fees and late charges. Payment will only be accepted through bank wire transfer in US dollars. The invoice will include instructions and all necessary information regarding how to complete the bank wire transfer. Please consult your bank to learn about any associated fees and length of time for a wire transfer before bidding on a listing. International customers may be required to pay an additional fee from the sending bank.
According the state law, all vehicles purchased by Georgia residents will be subject to a 6-8% sales tax charge as well as a $399 transaction fee and, depending on the location, a county discretionary sales surtax. Please consult etax.dor.ga.gov for further information. All other state residents will need to pay any required sales tax when registering their purchased vehicle in their home state. Car dealers will need to submit a copy of their dealer license and state retail tax certificate to confirm their tax exempt status.
Please keep in mind that you will not be able to use any or all of your security deposit to pay any costs associated with purchasing a vehicle.
Late Fee and Penalties
If full payment is not received from the buyer by the next day after the auction, the buyer will be required to pay a late fee of $50 or 2% (whichever is greater) of sale cost. This fee will be applied to each individual vehicle purchased. If the payment is not received within seven days, the security deposit will be forfeited and we will then be able to relist the vehicle at our sole discretion.
If you believe you will have difficulty making the payment on time, especially if you are an international customer, you may want to pre-pay the total expected cost of the vehicle prior to making a bid.
If you fail to pick up your purchased vehicle within three days, you will be charged a $40 storage fee per day until you retrieve the vehicle.
No Storage Fee: We guarantee that you will not be responsible for any vehicle storage fees as long as your invoice for vehicle purchase and shipping charges is paid in full and on time.
After you purchased a vehicle you need to upload from My Account/Documents your a copy of a valid photo identification document or a driver’s license or passport to process all the paperwork related to reassigning the vehicle(s) to you. Alternatively, you can email to our customer service department at [email protected] or fax it the documentation to our office at 404-745-8584.
We will make every effort to protect your information. Our SSL secured servers ensure that your documents remain confidential and protected
We will send all available documentation to the purchaser, although please keep in mind that the type of documentation will vary depending on the vehicle. Note that if a vehicle has a certificate of destruction as well as a bill of sale, the purchaser will only be sent the bill of sale. All available documentation will be transferred or reassigned to the purchaser according to relevant laws and regulations.
Most vehicles sold at insurance auto auction have salvage title. A Salvage Certificate of Title is issued to a vehicle that was stolen, wrecked, destroyed, water damaged or otherwise damaged to the extent that the owner, leasing company, financial institution or insurance company considers it to be uneconomical to repair. Before being allowed to drive salvage vehicle you need to pass inspection and get rebuilt (reconstructed) title. Please get more info about reconstruction process before purchasing any vehicle. Each state has different guidelines for salvage titles.
See links to Department of Motor Vehicles in each state here.
Order our transportation services or pick up your vehicle within two days of purchase (storage fees may be required after the third day).
Receive your title and enjoy your new vehicle!
Once full payment for a vehicle has been accepted by our bank account, we will begin the shipping process. The majority of our customers choose to take advantage of the reliable, fast, and cost-efficient shipping services that we offer. You can calculate the cost of this service by visiting shipping calculator.
Please note that payment for shipping services can be combined in one bank wire transfer with your vehicle purchase payment or can be paid directly to the driver on delivery.
Our driver will communicate the approximate date and time that you should expect delivery. Delivery typically takes 3 and 10 days, depending on the location of the vehicle. Make sure that you are available and prepared to receive the vehicle at the arranged time. Also, if the vehicle is non-operable you must provide unloading equipment.
As soon as we retrieve the title from the auction, we will complete the paperwork and mail it to you.
Note : Please ensure that you are in possession of a completed Bill of Landing/Damage Report prior to remitting payment to the driver. It is required that any and all damages that the vehicle incurred prior to its transportation must be included in the Damage Report. You should not proceed with the claim unless you are certain that any additional damage (beyond what is listed in the Damage Report) has been inflicted on the vehicle in the transportation process. The following documents are necessary to successfully make a claim: completed Bill of Landing/Damage Record that is signed by you, the driver, and the auction representative, a detailed written description of the additional damage in question, and pictures of the vehicle taken at the same angle as displayed on the website at the time of purchase. If Bid N Drive Inc determines that the vehicle was damaged during the transportation process, you will receive the necessary contact information for our insurance agent in order to settle your claim. Any restitution will be received directly from the insurance company.
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