Back
First Time Buying on Copart Car Auction
David Teller
Published in Buying on CopartMar 19th 20246 min read
Your first time buying on Copart is made easy and affordable with CoProxy. Knowing the fees up front and working with a transparent broker that provides the best experience is important in such a large transaction.The Copart car auction is an exciting place to shop for used and salvage vehicles but it isn’t the typical car buying experience. Copart is a leading online vehicle auction platform with thousands of vehicles that change over daily. The unique lineup of vehicles provides a cost-effective method for buying vehicles for a far better price. While it may be a whole new experience for you, with the right research and preparation, your first time buying on Copart can be a rewarding car buying journey.
What is Copart
Copart is an online vehicle auction platform that brings buyers, both dealers and non-dealers, and sellers together. Copart provides some safety guides but it is up to each individual buyer to do their own research on vehicle value and condition. The biggest difference with Copart compared to traditional dealers is the condition of the vehicles. Most of the vehicles are “Salvage” which means the vehicle was likely in a collision and marked by the insurance company as salvage. Often this means the repairs will exceed the value of the vehicle.It’s not just cars and trucks either. You can find boats, trailers, and motorcycles for sale on Copart as well. Transactions happen online and after successfully winning a vehicle, it can be picked up at a Copart yard with a trailer.TipYou cannot drive a vehicle off of a Copart yard even if it technically works. All vehicles must be trailered.
Copart account
The first time buying on Copart will require a few things to get started. For non-licensed buyers, you’ll need a broker account like CoProxy. CoProxy facilitates the transaction for the online auction for consumers. If you’ve already signed up on Copart that is fine but ideally you create your account on the broker first as it will often save you steps or money. You’ll need a deposit regardless. The deposit sets the bidding limit as well. Typically your deposit will be 10% of your purchase limit. You’ll also need to verify identity with documents so have your paperwork ready.Research before you buy on Copart
Whether it’s your first time buying on Copart or not, doing your research before you start bidding is key. Due to the type of vehicles and how the auctions are managed, preparation is more important at Copart than at a traditional dealership. Copart provides a report with photos and vehicle history. There are additional options for vehicle history insights you can find on third party websites. Looking into common issues or difficult to find parts for specific vehicles can both be worthwhile to assess potentially costly repairs.Set a budget before bidding
Just like with any vehicle purchase, setting a budget and sticking to it can be the most important part. There are additional fees to consider when buying on Copart though. Consider the cost with virtual bid fees, gate fee, title fee, environment fee, shipping fee. There are a lot of fees, that is why CoProxy provides the lowest fees of any Copart broker to save you as much money as possible.Attending virtual auctions
Start by observing online auctions. Getting a feel for the flow of and habits of other bidders can help you understand what to expect when bidding yourself. This can help with learning to read the dashboard and available actions. This is a good time to review the terms and definitions of Copart. View here:How it works
Copart Highlight Definitions
Inspect the Vehicle
While Copart provides extensive information about each vehicle, including photos and descriptions, it's crucial to inspect the vehicle in person whenever possible. Attend a preview day at a local Copart facility to assess the vehicle's condition, both mechanically and cosmetically. If you don't know enough about the vehicle you’re inspecting, ask a more knowledgeable friend to assist you. It can save you thousands of dollars down the line.TipAn important term to learn is “Runs and Drives”: When the vehicle arrived at Copart's facility, Copart verified that the vehicle started, could be put into gear, and was capable of moving forward under its own power. There is no guarantee, representation, or warranty that the vehicle is in roadworthy condition.
