IAAI Fees: Uncovering the Pricing Structure

Auction IAAI (Insurance Auto Auction) is a US insurance Autos Auction, one of the leading digital trading platforms that brings together buyers and sellers of damaged cars. Using cutting-edge technology and a strong focus on innovation, the IAAI auction platform facilitates the marketing and sale of salvage vehicles at low prices. IAAI's auction headquarters is located near Chicago in Westchester, Illinois, and employs over 4,000 employees. IAAI serves buyers not only from the United States but also from more than 170 countries. Let's figure out which is more profitable, copart vs iaai fees.

Understanding the Cost of Winning Bids

You can see the cost of the car in the "Previous Vehicles" section. In the table, find your lot in the presented bidding line. The last column shows the winning vehicle bid. Please note that the IAAI commission is deducted from the value received in the amount of:

• $625-$750 if the price is up to $5,000;
• $750-$900 – up to $15,000;
• 6.0-7.5% of the lot value - more than $15,000.

These fee variations typically depend on several factors. One of them is the number of vehicles purchased over the last year. For example, the rate will be lower if there are more than 25 units. In addition, the amount of the total sales price is taken into account, which may be more or less than 75 thousand. The attached accounts play an important role. If a user has 5 accounts, a lower auction commission is paid.

The iaai auction fees continue, as you will also have to pay for placing an online bet. If the purchase price is $100-$8,000, then the iaai buyer fees chart will be $39-$119 , more than $8,000 - $129 . Additionally, the Insurance company charges a fee for vehicle maintenance: its departure and loading. Each unit costs $79. In addition to all of the above, an environmental fee of $10 is considered.

Standard IAAI Licensed Buyer Fees

This standard vehicle price is for purchasers with a valid business license. Standard vehicles exclude recreational rides and heavy vehicles.

The standard volume iaai fees chart schedule applies to buyers with a business license, 24 or fewer units purchased, or total vehicle sales of less than $75,000 in the last 12 months, OR have 5 or more bidder accounts.

Standard IAAI Non-Licensed Buyer Fees

This standard vehicle price is for purchasers who do not have a registered business license. Unlicensed buyers will be charged the standard IAA unlicensed iaai buyer fees on all purchases, including bicycle rides and heavy vehicles.

Standard IAAI Heavy Vehicle Buyer Fees

Heavy vehicles include buses, boats, cranes, emergency equipment, agricultural equipment, forestry equipment, motorhomes, trailers, heavy-duty trucks, and all specialty vehicles sold through IAA's dedicated affiliate. The IAA follows the Gross Vehicle Weight Rating (GVWR) classification. These iaai storage fees will apply to heavy vehicles with a GVWR of 10,001 pounds or more.

IAAI auction tariff tables

Other Costs Worth Taking Into Account

• Service Fee: $79 per vehicle service, including pickup and loading.
• Environmental Fee: $10 per item for handling and care in an environmentally friendly manner.
• Premium Car Report: $15 on select vehicles.
• Pay at the Branch: Customers who pay with cash, money order, cashier's check, or company check will be charged a $20 branch fee.

FAQ

What are IAAI fees?

There is a buyer's fee for every vehicle sold. IAA's standard buyer iaai selling fees are calculated based on the final sale price, license type, and volume of inventory purchased.

What types of fees does IAAI charge to buyers?

Money Transfer Fee: Customers who pay at a branch using 6+ money orders are charged a $20 fee per order and the $20 branch payment fee.

When and how should I pay IAAI fees?

Use your Visa or Mastercard at an IAA location to pay specific iaai fees and another payment system.