IAAI (Insurance Auto Auctions, Inc.) is a major marketplace for salvaged and used vehicles. When a vehicle is sold through IAAI, several fees are typically involved for both buyers and sellers. This calculator is designed to help you estimate the total fees associated with a sale, primarily focusing on buyer-side costs based on the sale price and specific fee structures.
Key Components of IAAI Fees:
Sale Price: This is the final price at which the vehicle was sold at auction. It's the base for calculating many percentage-based fees.
Buyer Deposit: While not a fee itself, it's an upfront payment made by the buyer. In some contexts, understanding the sale price relative to the deposit is important, but for direct fee calculation, we focus on the sale price.
IA&S Fee (Insurance & Automotive Services Fee): This is a significant fee often charged as a percentage of the sale price. The percentage can vary based on membership level, location, and specific auction terms. A common rate is 10%, but it's crucial to verify the exact percentage applicable to your situation.
Convenience Fee: This is a flat fee charged by IAAI, often for processing the transaction or for specific services. It's typically a fixed amount per sale.
The Calculation Logic:
The total estimated IAAI fees for a buyer can be calculated using the following formula:
For example, if a vehicle sells for $5,000, the IA&S Fee Percentage is 10%, and the Convenience Fee is $200, the calculation would be:
IA&S Fee = $5,000 * 10% = $500
Total IAAI Fees = $500 + $200 = $700
Important Considerations:
Membership Tiers: IAAI often has different fee structures for general public buyers versus licensed dealers or businesses. Dealer members might have lower percentage fees or access to different fee schedules. Always check your specific IAAI account details or contact them directly for the most accurate information.
Additional Fees: This calculator covers the primary buyer fees. Other costs might apply, such as transportation/towing fees, storage fees if the vehicle isn't picked up promptly, re-inspection fees, or state-specific taxes and registration costs, which are not included here.
Dynamic Pricing: Fee percentages and amounts can change. It's always best to refer to the latest fee schedule provided by IAAI or consult their customer service.
Using this calculator can provide a good estimate for budgeting purposes when purchasing vehicles through IAAI.
function calculateIAaiFees() {
var salePrice = parseFloat(document.getElementById("salePrice").value);
var buyerDeposit = parseFloat(document.getElementById("buyerDeposit").value); // Included for context, not direct calculation
var iasdPercentage = parseFloat(document.getElementById("iasdPercentage").value);
var convenienceFee = parseFloat(document.getElementById("convenienceFee").value);
var resultValueElement = document.getElementById("result-value");
var totalFees = 0;
// Validate inputs
if (isNaN(salePrice) || salePrice < 0) {
alert("Please enter a valid Sale Price.");
resultValueElement.innerText = "–";
return;
}
if (isNaN(iasdPercentage) || iasdPercentage < 0) {
alert("Please enter a valid IA&S Fee Percentage.");
resultValueElement.innerText = "–";
return;
}
if (isNaN(convenienceFee) || convenienceFee < 0) {
alert("Please enter a valid Convenience Fee.");
resultValueElement.innerText = "–";
return;
}
// Calculate IA&S Fee
var iasdFee = salePrice * (iasdPercentage / 100);
// Calculate Total Fees
totalFees = iasdFee + convenienceFee;
// Display the result
if (!isNaN(totalFees)) {
resultValueElement.innerText = "$" + totalFees.toFixed(2);
} else {
resultValueElement.innerText = "Error";
}
}