What happens when you realize that you don’t have enough Buying Power to bid on the vehicles you want? If you are just starting out in the online auction world, you may have thought about this once or twice. But no need to fear. Copart is here to walk you through the process.
Buying power is a Copart term that refers to the maximum amount a member can bid on an item. Newly registered Copart Members are able to bid on one vehicle up to $1,000, without putting a deposit down – this is their buying power.
To bid more than $1,000 or on multiple vehicles, buying power will need to be increased. Basic Members can increase their buying power by either:
- Providing a deposit equal to 10% of the desired maximum bid amount.
- Upgrading to Premier Membership for substantial buying power.
Many Copart buyers opt for Premier Membership. For an initial $200 registration fee, a one-time fully refundable $400 deposit and copies of all current licenses (if applicable), Members can enjoy a convenient membership plan. The Premier Membership includes annual renewal, discounted buyer fees, extensive buying power without adding additional deposits and the ability to add up to three additional users to the account for free.
Provide a deposit equal to 10% of your desired maximum bid or upgrade to premier membership and never miss out on the vehicles you want because of buying power again! Click here to learn more.
More information about Buying Power and Premier Membership may be found in Copart’s Member Terms and Conditions.