Copart is a company that connects sellers to buyers.
It is a platform where you can go if you are interested in auctioning your car.
Copart has lots of interesting features which endears many car sellers.
This is a comprehensive review about Copart which also answers a lot of the important FAQs most people have about this car auction platform.
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What Is Copart?
Copart is a company that provides an online auction platform for car owners.
It connects buyers and sellers through online and onsite auctions.
This company was founded in 1982 with a single salvage yard in California.
For the past 39 years, it has grown to become one of the best auction sites operating in more than 200 locations and 11 countries.
Copart is headquartered in Dallas, Texas, USA, and to date, it has put up more than 175,000 vehicles for auction on daily basis.
As a business, Copart specializes in the auction, resale, and marketing of used, wholesale, and salvage title vehicles.
The business model attends to a variety of car sellers that may include hobbyists, financial institutions, insurance companies, local municipalities, charities, etc.
Also, the target customers include individual consumers, body shops, dismantlers, salvage buyers, car dealers, and so on.
Each year, Copart sells more than two million vehicles.
How Copart Works
Copart is a stand-out platform that works in the following ways.
How to Sell Your Car as an Individual
If you are an individual who wants to sell your car with Copart then here are the steps you must take:
- Visit CashForCars.com – A partner company of Copart. Here you can sell used, unwanted, or total loss vehicles.
- Get an offer by first filling out an online form. You will get to know what your car is worth. The information you will fill on this form includes your contact information (email and phone), your Zip code, the VIN of your vehicle, the make, model, manufacturer, and trim of your vehicle, and the current condition of the car.
- The instant offer can be mailed directly to your inbox. Or, you can call the company with the displayed number (1-800-381-6219) on their website for your quote.
- If you accept the price offer from Copart, then the company will schedule a pickup time that is convenient for you.
- Copart or its partner CarForCars.com will inspect the car and pay you.
- The company will tow away the car for free.
How to Sell Your Car as a Dealer
If you are a dealer, you can sell your car through Copart’s Virtual Bidding Technology.
This is a platform that allows you to sell your car through online auctions.
The benefits of using Copart to auction your car include that you can sell your car the way it is.
You can also avoid the hassle of getting right down to making money selling the car by yourself.
Also, if you choose Copart, you can easily reach out to more than 750,000 potential buyers across 170 countries.
Another benefit of using Copart to auction your vehicle online is that Copart will wash and vacuum the vehicle before putting it out for an auction.
The steps to sell your car through Copart are in two ways:
1. You can fill out the quick online form with your contact details. Copart’s representative will then call and guide you through the process of selling your car through an online auction.
2. Alternatively, you can call Copart with the displayed number – 1-888-616-1237 – and have an agent help you get started.
How to Sell Your Car as a Business
If you are a business, then you can sell your vehicle through Copart.
By a business, we mean various institutions or businesses from which Copart can buy cars.
These include insurance companies, car rental companies, banks, fleet operators, dealers, and charities.
Just open a Copart seller account and contact a Copart agent to help you get started.
- Check this for how Get Paid to Store a Vehicle
- Check this for Tips on How to Sell Car Parts
- Check this for Tips on Selling Damaged Cars
- Check this for How to Get Cash For Junk Cars
- Check this for How to Sell Your Car to a Dealer
Key Services/Features Offered by Copart
Copart provides many key services and features to clients.
These features include:
Copart allows buyers three levels of membership. These are:
This is a free membership and is suitable for people who are new to Copart and want to browse inventory and create a watch list.
This membership costs $59 annually. This gives members limited buying power based on their deposits.
The deposit is calculated as 10% of the maximum amount you wish to bid in a year.
For instance, if you are a basic member and plan to make a bid of $3000, then you would be required to deposit $300.
This membership costs the buyer $199 annually plus a one-time fully refundable deposit of $400.
This membership option gives individuals and buyers substantial buying power. They can bid up to $100,000 daily.
Copart has an expansive inventory with more than 200,000 vehicles displayed on sale daily.
For the buyer, they are sure to find something that fits.
If you are a seller, the expansive inventory can accommodate any type of car you want.
Copart hosts an online auction five days every week.
Buyers can buy pre-bid online and at locations.
The daily actions start from 9:00 AM.
If you are not comfortable with making daily bids, you can also choose the Nightcap sales and make your bid.
Virtual Bidding Technology (VB3)
This Copart’s technology allows you to hold online auctions.
Thus, with your computer, phone, or tablet you can make your bids.
The benefits include that you don’t have to deal with arbitrations, red light, or green light when making bids or selling your cars.
Put in another way, the virtual bidding technology helps you avoid the hassles associated with selling cars in auctions.
Delivery and Transportation
Copart offers buyers a domestic and international delivery of the vehicles they bought through auctions.
However, if you have a preferred transporter, Copart can work with them to pick up your vehicle whether it is in transit or at the scheduled spot.
Also, Copart recommends the use of the Transport App for easy scheduling.
Copart allows users to submit licensing information.
Whether you are an individuals, business, or International member, you need to submit this information to facilitate your bidding process.
Each state in the United States has its requirements, so you need to know the restrictions you have.
Multiple Payment Methods
When you use Copart to auction or bid for a vehicle online or offline, you can choose any payment methods you want.
It would interest you to know that Copart offers many payments methods which people can use to pay for vehicles in-person or online with ease.
Examples of payments methods include:
- Non-Secure Funds – Credit or debit card, and mobile wallet apps.
- Secure Funds (These are recommended) – Wire Transfer, Money Order, Cashier’s Check, MoneyGram, and Canada Corporate Creditor Account.
- Secure Funds (These are subject to Approval) – Cash, Company check, ePay, Third-Party Financing, Available Funds, Western Union Business Solutions GlobalPay X.
Bid on the Go with Mobile
Copart has mobile apps which you can use to make bids from the comfort of the home.
You can take advantage of the Copart app if you own an Android or an iOS device.
How to Register With Copart?
To make the most with Copart, you have to register on the platform.
You can sign up as a guest for a Guest Membership.
With this membership plan, you can take a look at auto auctions featured on the site.
Yes, you can check out the featured used, wholesale, and salvage cars, trucks, and SUVs.
To access more features with Copart, you will have to upgrade your membership to Basic or Premium Membership.
With any of these membership levels, you can start bidding on vehicles.
For each level of the basic and premium membership, there are specified benefits.
Visit the Copart’s Registration page and register as an individual or as an individual or as a business.
What Type of Cars Are Auctioned at Copart?
At Copart, you can sell or buy different kinds of cars, trucks, vans, SUVs, etc.
Copart’s inventory has many types of vehicles at the auction.
You can check out the website to view the cars at Copart.
How Do You Start Bidding and Buying in Copart’s Auctions?
To start bidding and buying a car in Copart’s Auctions, here are steps to follow:
Join Copart as a member
You can register as a guest member for free. However, to make bids, you have to upgrade to either basic or premium membership.
Get buying power and add deposit or upgrade to premium
You can deposit at least 10% of the maximum value of bids you want to make on the site.
For instance, if you plan to make a bid of $2000 then you are expected to deposit $200 which is 10% of the total bid value.
You can also choose to upgrade to a premium membership.
You pay a $199 annual fee.
Or, you can choose to pay a one-time fully refundable %400 deposit.
Submit business licenses
If you are a business member, you can submit your business licenses.
Each state has its requirements for acquiring a business license
Find a Broker
If you don’t have a license, you can bid on vehicles that require a business license by using the services of a broker.
On Copart’s website, there is a list of approved brokers you can use.
Use the Copart search toolbar to find the car you want.
Simply enter a description, VIN, or Lot Number in the toolbar at the top of any Copart page.
Place your bids
Pay and Pick up
The above is a quick review of Copart.
It is a car auction website.
People can use it to sell their cars or make bids to buy vehicles.
You can use this site for your online or onsite auction solution.