Author Archive: AUCTIONCARS SALES

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Vehicle Liens and salvage auctions - COPART, IAAI

Lien searches are useful. Whenever you buy a vehicle, and we do mean whenever, run one. At an average cost of less than $20, it's the best insurance money can buy. Many dealers are shocked to learn that some auctions don't do lien searches so, if you don't do a search, no one else does. Some of our Members are regular buyers at "salvage" auctions. Some of the bigger players in this area are Copart and Impact Auto Auctions now IAA Canada.

For years we have noted that when an insurance company "writes off" a total loss vehicle and sells it at one of these sales, there are often undischarged liens. Many will get discharged once the insured pays the loan with the insurance proceeds. But there have been instances where, for a number