Copart auto auction is the ONLY auction to go to if you don't have a dealer's license!
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The Copart auto auction is a great auction for those who don't have access to dealer auctions.
Copart salvage auto auction was founded in 1982 by CEO Willis Johnson, who started with a single salvage yard in Vallejo, California. In 1994, he took the company public. Now there are over a 135 locations throughout North America and the UK.
Coparts sells primarily salvaged vehicles which have been deemed a total loss by insurance companies, or are recovered stolen vehicles for which an insurance settlement with the vehicle owner has already been made. They also sell damaged rental cars, dealer trade-ins, public and dealer consignments, retired fleet vehicles and repossessions. They provide insurance companies, with a full range of services to process and sell salvage vehicles through auctions, principally to licensed dismantlers, rebuilders and used car dealers. Salvaged vehicles are generally vehicles which have been:
- Been in a fire
- Been in a flood
- Or have been in a major accident.
Coparts doesn't only sell cars. They sell motorcycles, boats, jet skis, mobile homes, etc.
Auto online auctions
Copart auto auction is one of the few auctions done online in real time. People bid all over the world on copart's online auctions. You can bid in front of your computer in the convenience of your home or office. I would recommend that you inspect the vehicle in person before you bid online. Especially if your going to resell the car instead of using it for parts. With Copart you don't have to partake in the live auction to win a bid on a vehicle. You can either bid in real time or use BID4U which allows you to put in the maximum bid your willing to put on a car. BID4U will bid on your behalf during the live auction. It will bid only one increment above the current bid to make you the highest bidder. This way you can buy a vehicle under your maximum bid if the price doesn't exceed it. For instance if your maximum bid is $3000, and the auctions stops at $2600 with you as the highest bidder, you get the vehicle for $2600. Your maximum bid is 100% confidential. BID4U will bid only one increment above your maximum bid in order to break a tie. Bids cannot be deleted or lowered once they're submitted. BID4U allows buyers to partake in multiple auctions simultaneously.
Online auto auction buy fees
Copart online auto auction fees are far less than live dealer auctions. The virtual auctions (bidding live online) are $35. If you bid before the live auction they're
- 0-$999 $35
- $1000-$1999 $50
- $2000-$9999 $75
Copart auto auction also sell vehicles which were donated by charities, repos, dealer trade-ins, etc. When Copart sells a donated vehicle on behalf of a charity its automatically deemed salvage after you purchase it.
Coparts main buyers are dismantlers who buy the vehicles for the parts. Dismantlers run junk yards, and are in the business of selling used car parts. Coparts has a weekly auto parts online auction. All of the bidding is done online, and it moves really quick. Dismantlers don't care if their is severe body damage to the vehicle because they're buying the vehicle for the engine, transmission, etc.
Coparts sells more than 1 million vehicles per year, and has been named to Forbes Top Small Companies List seven years in a row, and has also been named to Business Week's Top Small Companies List.All you need to get to attend the Copart salvage auto auction is a seller's permit, and a business license.
A seller's permit lets you collect sales tax from your customers which you give to the state. You also need a seller's permit, and a business license if you want to get your dealer's license. If you have a seller's permit you wont have to pay tax when you go to the mechanic, body shop, parts stores, etc. if those goods, and services are being applied to the vehicle your going to resell
You have to get a seller's permit if your:
- Doing business in California.
- Intend to sell or rent tangible property that would ordinarily be subject to sales tax if sold at retail.
In order to get a seller's permit you have to register with the State's Board of Equalization.
It depends on where your doing business but basically you need a business license if your conducting any kind of business for profit.
To get your business license you can go to any Business License Office of the Treasurer and Tax Collector.
Find out where police auctions are in Los Angeles county.
At copart auto auction you can inspect the vehicles prior to the auction, and bid for the vehicles online. They start removing the keys from the vehicles the day before the auction. Get their a couple days early so you can start the car up, move them back and forth, etc. You can get some great deals at this auction. Some of the vehicles are in good condition, and don't need much work.
Some of the cars have minor body damage which is easily fixable. Try to establish a relationship with a body shop. Tell them you buy and cars for profit and will keep bringing cars if they give you wholesale prices. Show them your seller's permit so they won't charge you sales tax. Buy cheap, have the car fixed at a wholesale price, and resell for profit. I know a dealer who primarily buys salvaged cars from copart auto auction, has the body work done, and resells them for a good profit. I'm kind of scared of buying salvaged cars because thats one of the first things customers ask me, does it have a salvage title? Some people don't care because they're getting a newer car with less mileage for half the price.
On Sat Aug 02 18:48:14 2008, the following results were submitted from the "Copart Auto Auction" on sell-cars-for-profit.com:
- First Name: Gino
- City: Los Angeles
- State/Prov: Ca
- Country: United States
Comments: This is the worse company I ever deal with. Zero customer service. Even less than zero. They are not responsible for anything. Keysr, vehicle parts, titles - everything disappear and no one give a thing. Whenever they got your money - you are on your own. Car advertised with clean title - and it become salvage. mileage posted as "actual" and when you getting title it is clearly said "not actual". Great place for thieves and crooks and loss for honest buyers, who bid on the internet and cannot come to see the vehicle, as it's in another city or another state.
After several years working with Copart I want to warn you - better go other place, where vehicle come from the insurance company, where action site disclose you full VIN, so you can run CarFax and where you can feel as a buyer, not as floor mat.
God Bless You All.
On Fri Sep 12 20:10:52 2008, the following results were submitted from the "Copart Auto Auction" on sell-cars-for-profit.com:
- First Name: George
- City: Dorchester
- State/Prov: Massachussetts
- Country: United States
Comments: There's something wrong in the title of this article "Copart auto auction is the best auction to go to if you don't have a dealer's license" that's wrong, you DO NEED a dealer and/or distmantler license to register and buy from Copart.
I have been buying at Copart for many years, all the people that have had a bad experience buying from them is simply because they are not aware that they are buy SALVAGE, distressed vehicles, not a used or new car from a dealer.
I do recommend buying vehicles from Copart most of all if you want to get a cheap vehicle, repair it, get a rebuilt title and use it as your personal vehicle for much less than it would cost you buy the same vehicle at a dealer.
And for those of you who don't have a dealer's license, no problem now you can buy at http://www.SalvageAutosAuction.com a site that lists vehicles from Copart and where for only a $25 annual fee they buy on your behalf at Copart, this is honest people you can deal with.
I guess their policy has changed. When I signed up with copart in 2005 all you needed was a seller's permit, and business license.