For Immediate Release
Vice President, Marketing
Insurance Auto Auctions Announces I-Buy Fast℠
Further Expanding Choice and Flexibility in Salvage Auto Auctions
Westchester, Ill. — Insurance Auto Auctions, Inc., the leading hybrid model salvage auto auction company, announced today the future launch of I-Buy Fast, a new method for buyers to purchase an available vehicle. I-Buy Fast will be a buying option accessible through their online IAA Auction Center that allows qualified buyers to purchase vehicles between auction dates that were run, but not sold.
Although most vehicles are bid on and sold in their first run through an auction, there are some that do not sell. When the product is launched later this summer, vehicle sellers will be able to choose to sell those vehicles through I-Buy Fast, therefore, providing additional exposure, potentially reducing cycle time and increasing selling opportunities. And, buyers will be able to immediately buy vehicles for a fixed price, allowing for additional options in the vehicle purchasing process.
“Choice and flexibility are critical to the salvage auction process,” stated Tom O’Brien, CEO. “I-Buy Fast will expand selling and buying opportunities for our clients as well as further support our goal of investment in our customer-centric hybrid auction model.”
The new buying feature, I-Buy Fast, will launch in late Q3 as a complement to IAA’s Hybrid Auction Model combining live and live-online auctions. I-Buy Fast will also enhance buyers’ ability to purchase vehicles at any time from anywhere in the world.
About Insurance Auto Auctions, Inc.
Insurance Auto Auctions, Inc. provides the advantage in salvage auto auctions with its hybrid auction model combining live and live-online auctions, North America’s broadest salvage auction facility footprint, a strong global buyer base and high vehicle returns. IAA’s over 150 corporate owned facilities across the United States and Canada provide vehicle suppliers and buyers with powerful solutions to process and acquire total-loss, recovered-theft, fleet lease, donation and rental vehicles. The IAA Hybrid Auction Model, including live, live-online and proxy bidding, united with its mature global buyer base and diverse inventory, produces some of the industry’s highest returns for vehicle providers. With over 26 years in the industry, IAA holds the most comprehensive warehouse of salvage auction data. For more information regarding IAA visit our website at www.iaai.com.