If you are in a market for a new car, you will be happy to know that car auctions can be a great way to find a good vehicle at a great price. With more than 175,000 vehicles up for auction every day, Copart is your destination for auto auctions. If you are interested in buying a car from Copart auction, you should consider these things before you bid.
Who Can Buy from Copart’s Auto Auction?
Any Copart Member can bid on the vehicles which are up to $1,200 and under Copart’s “No License Required Inventory” category. However, if you wish to buy a vehicle which is over $1,200, then you will have to add a 10% deposit or upgrade to a Premier Membership. Adding the deposit will let you bid on the vehicle, but it limits you to only one auction, whereas if you upgrade to a Premium Membership, you can take part in unlimited auctions.
Can I Sign Up and Bid in the Same Day?
Since we need to verify the information supplied is accurate, you will have to wait until your uploaded documents are approved (government-issued ID and/or business license). This can take up to 1-2 business days. However, once your documents are approved, you can start bidding immediately.
Learn About Titles
It’s important to understand the condition of the vehicle you’re bidding on. That’s why you’ll need to learn about titles before you buy. Here are a few common types of car titles:
- Clean Title: A car with a clean title simply indicates that the vehicle has never been deemed a total loss.
- Salvage Title: A salvaged title is a vehicle that has been damaged and/or deemed a total loss.
- Rebuilt Title: A rebuilt title is a vehicle that had a salvage title and has then been restored to roadworthy condition.
- Flood/Water Damage Title: A flood title means the car has damage from sitting in water deep enough to fill the engine compartment.
- Junk Title: A junk title is issued on a vehicle damaged to the extent that the cost of repairing the vehicle exceeds ~ 75% of its pre-damage value.
Do I Need to Inspect the Vehicles in Person?
We encourage our Members to get as much information about the cars they are bidding on as possible. You can order a vehicle inspection to make an informed purchase. Alternatively, you can check the High-quality images provided by Copart and go through the general description for each vehicle. Copart also offers the condition reports to our buyers. By paying $35 you can get two videos of the vehicle, some additional pictures and a review about the vehicle equipment, condition and tire information to gain confidence in bidding.
How to Pay
Once you win an auction, the next step for you is to pay for it and pick up the vehicle. Copart offers several contact payment options you can choose from to pay. The payment deadline is three business days, so be sure to plan accordingly to save yourself from the late fee.
So, find a little time to explore the Copart’s vehicle auctions. With a variety of vehicle up for auction you can now buy your favorite vehicle at a price of your choice.