ever question what occurs to vehicles after they get totaled? Some end up in junkyards, others just seem to sit on the side of the road for months. however many wrecked cars actually end up in insurance coverage car auctions. The cars are auctioned off for the insurance coverage business as well as then declared by the bidders who can then repair them up or salvage them for parts.
To look at this process in much more detail, we traced the events surrounding an mishap including a 2013 Honda Civic. (Don’t worry, the chauffeur was fine.) What’s the timeline like? Where did the vehicle end up? discover out much more by reading below.
August 12, 2015. A collision occurs near Dallas, TX including the aforementioned Honda Civic. even though the chauffeurs included were unharmed, the airbags in the Civic deployed as well as it had to be towed to a collision repair work shop. There was considerable damage to the traveler side as well as the windshield was shattered. The insurance coverage business was notified immediately, and the collision repair work shop is instructed to examine the car to assess its condition.
August 16, 2015. The collision repair work shop makes its suggestion to the insurance coverage business that the expense to repair work the car would be much more than half of its estimated value. The insurance coverage business makes the decision to overall the car. The chauffeur was hoping that the repair work weren’t that comprehensive as well as begins taking a look at their finances to see what vehicle choices they can afford.
Recouping the Cost
August 21, 2015. The insurance coverage business problems a inspect to the driver. On the exact same day, the insurance company selects a vehicle auction company to help in selling the vehicle as-is. They hope to make back at least a few of the expense of the payout. The car auction business collects the vehicle as well as takes it to their location. It’s photographed, tested, as well as the results are published on the internet to ensure that interested bidders can determine if they want to quote on the car.
The car Auction
August 31, 2015. In an fascinating coincidence, at the exact same time the original chauffeur is at a dealership taking a look at cars, the wrecked vehicle is being put up for auction online. The Honda Civic does rather well at auction as well as the winning bidder arranges to pick up the car.
Happy Endings for All
September 1, 2015. The Honda is chosen up by its new owner as well as the money is sent to the insurance coverage company. They are pleased with the results of the auction.
The Honda Civic is chosen up as well as taken to a shop where usable parts are taken out as well as offered online. The purchaser makes a revenue as well as is likewise pleased.
The original chauffeur of the Honda Civic goes back to the dealership as well as handles to score a good offer on a new car. Their insurance coverage rates are going to boost a little, however for the most part retail therapy has produced a rush of endorphins, so they are (for the moment) fairly delighted as well.
Life After Wreck
There is life after an mishap for a wrecked vehicle. many can be taken to an insurance coverage car auction where they discover a “second life” in the hands of one more person—be they part collector, mechanic, or even artist.
Interested in taking a look at some insurance coverage car auctions yourself? inspect out the choice at Copart.