The first step to avoiding late and storage fees is to know when these fees will be assessed. To determine how long you have to pay for and pick up each vehicle, simply go to your 'Won Vehicles: To Be Paid' list.
Generally speaking, you have two business days plus the auction day to pay for a vehicle, and you have four business days plus the auction day to pick up your vehicles. Timing does vary between branches, as market conditions dictate. For example, auction yards with little room for extra inventory are not able to allow four days after the auction to pick up a vehicle.
Payment: It doesn't matter when your payment is sent; it only matters when the payment is posted to your account. Know your different payment options and allow yourself ample time to pay:
- I-Pay is the fastest way to pay as it’s the only payment method that posts immediately.
- If sending a wire transfer, please keep in mind that although you may have a receipt stating that your bank has processed the wire transfer, IAA cannot post this wire transfer to your account until we receive notification from your bank that funds were collected.
Many buyers send their tow truck once they wire funds, but vehicles cannot be released until those funds are received and posted to your account. IAA will not release a vehicle until the funds are confirmed (varies by payment method). Avoid paying for your transporter to spend a night in a hotel by understanding your options in advance and submitting payments as soon as possible.
IAA offers 3 ways to bid, but you can always pre-bid on a vehicle prior to an auction and then either attend the sale in person or bid via I-bid LIVEsm. We recommend that you use our robust search tool to find every vehicle you are interested in and place a minimum and a maximum pre-bid.
By pre-bidding, you can:
- Lock in your bids prior to an auction. By doing so you will be able to bid on a wide variety of vehicles at multiple branches. Once you have placed a pre-bid, your 'Pre-Bids: Open' list is a quick way to identify the vehicles on which you are the high bidder and on which ones you have been out-bid.
- When you pre-bid you don’t have time constraints, so you can submit more bids, on more vehicles and increase your chances of obtaining the best deals.
- IAA understands that every buyer has a slightly different business model. Take advantage of the unique bidding options at IAA, by trying all three bidding methods to see which ones work best for your business.