Important Auction Terms to Know - Salvagebid (2024)

Every vehicle listing on Salvagebid is loaded with useful information designed to help give you clarity and insight on any cars you view. This knowledge will give you the confidence to bid and win! To help you succeed, below are a few important terms you’ll want to understand.

Auction Verification

When a vehicle is brought into an Insurance Auto Auctions yard it goes through a basic inspection, which includes attempting to start the car if it has keys, and checking if move forward under it’s own power. If a vehicle is able to do so, it will be listed as “Run & Drive Verified”. If the car’s engine starts but it is not able to drive, it will be given a “start code.” If the vehicle starts but doesn’t run, it will only be listed as “Starts”. If the yard is unable to test for any reason, it will note this as “Can’t Test”. If the vehicle doesn’t start, it will be listed as “Won’t Start.” Vehicles that will only start by being jumped will be listed as “Starts w/ Jump.”

Loss Type

This is gives you a broad idea of the damage this vehicle has sustained. Most commonly you will see it listed as having “collision” damage, meaning it has been in an accident of some sort. Other common loss types include “water” or “fire” damage. There is also “theft“, meaning the vehicle was stolen but recovered and processed by the local police and DMV. It is always a good idea to get a Vehicle Identification Number Report (VIN Report) to provide more details of any damages and to understand the full vehicle history. These reports are specifically designed to help you make a bidding/purchase decisions.

Odometer

The number you see here is the number of miles this vehicle has driven, as listed by the odometer reading on the vehicle’s dashboard. Next to this number you will see one of a few phrases. “Actual” means that this number is true and correct, as reflected on the title. “Not Actual” means that there is a discrepancy between the odometer reading and the title or DMV records. Often vehicles over a certain age do not require an accurate odometer reading and are listed as “Exempt“. But local laws vary, so it is best to consult the DMV in the state issuing this title.

With this information you should be better equipped to bid with confidence and win!