Copart; BROKER NEEDED

They say my being a member only allows for a Salvage purchase, the car we are looking at comes with a bill of sale, so I can't bid.   most of these people want as much as the bid to middle the deal.   I need someone to place a bid, were talking minor money here. Atlanta area.

Does me being a licensed dealer in Illinois help?

In reply to GTXVette :

Just wait till you see the other fees. 

Andy Neuman said:

In reply to GTXVette :

Just wait till you see the other fees. 

 

Fill us in please. I've seen a number potential projects on CP but never got close to pulling the trigger. I'd certainly like to know just how deep that part of the pit is...

Andy Neuman said:

In reply to GTXVette :

Just wait till you see the other fees. 

 

Tellus

In reply to rdcyclist :

They have a fee schedule on their site. Here's one data point: I just purchased a car with a winning bid of $2000 and the total including fees and sales tax was $2768. I didn't use a broker so that's probably another 2-300. 

Example, win for $625 pay $864 no broker. Some States do not require a broker. They have a fee schedule on their site. I believe someone else does a fee calculator. 

In previous posts I have written in-depth about auction fees. The fees are significant 

They say I need a Tax ID Number and Bus. address,  None of my money deals Materialized this W E so What I was chasing was that Cosworth Vega. AT COPART SOUTH ATL. auction is tuesday opening bid is 200.00 dollars it no saled once at 350 but no bids last week at all.  Not a Money Maker but a Frickin' COSWORTH in a Vega.  type 76 vega in search bar.

In reply to John Welsh :

just read that post good info. thank you for sharing, I wouldn't want to find that out LATE.

In reply to GTXVette : yes! A Cosworth!  I’d be tempted at small money  but not anywhere near market value.  Then fees on top of bid?   Plus transportation from auction site to wherever Makes bidding difficult.  

To be fair the salvage yards that bid against us on the modest priced ones probably had the same costs. 

When I’ve bid in the past I go to the full price Im willing to pay and cut  it in half to take care of fees and expenses.   I’ve been high bidder in the past but so far always to a no sale  

Now I want to know if I can use my business, non car related, to buy cars for myself on copart. 

Copart is great if you're bidding on something fairly low demand that you can get for under $1000. I used it to get a whole wrecked Xterra (needed the engine) and an RX-8 (ditto). Both were wrecked to the point they would never drive again, but had good drive trains in them. I also got a Grand Cherokee for like $500 including fees, in which somebody had put a halogen spotlight down on the passenger seat and melted it. That one was 4x4 and had like 75k miles on the straight six in it, but was 10 years old. I guess what I am saying is that if you shop wisely, you can get things that make financial sense, even with the fees.

Example: This truck will probably go for $1500, plus fees, no license required. That's about $3000 less than it would be on Craigslist around here, even with the body damage.

Things like late model BMWs, Benzes and so on seem to get bid up high and shipped out of country. Since NC is no license required, people from all over bid on stuff. I've heard that they either repair them in markets where safety is lax and labor is cheap OR they strip all of the high end options out of them and put them in lower model cars and sell them as the higher trim level.

It also helps I don't live that far from two Copart locations and can go inspect potential buys with my own eyes.

 

Or find the latest Exocent donor, or maybe spruce up your base model Miata.

Andy Neuman said:

Now I want to know if I can use my business, non car related, to buy cars for myself on copart. 

 

Isn't half your business "production" and the other half "trucking"?  

Doesn't your business need a salesman's car?  

Andy, it appears that yes you can, the man that told me about it uses his mom's Flower bus.. Again I can buy salvage but not bill of sale cars or clear Title cars.

Brian, thank you for the offer, I will call today to ask, I remember something about buyer picking up the car but will ask.

In reply to John Welsh :

As long as I don’t have to involve my accounting person I’ll be good. Would create tension in the office. 

I’ll tell my real estate investment partner we can do cars on the side he will be thrilled. 

If fees weren't so horrible, I'd be buying cars nearly every week from Copart. Shipping on top of that because for some reason, the Kansas City location has started posting less and less "No Broker Needed" postings, even though last I checked, KS is fine without brokers if the car is salvaged.

I do have a transportation business but that does not make me a car dealer or give me the benefits of being a car dealer.  As such, I did all my auction car buying and car flipping in my personal name and not the business because as a non-business I am afforded a reasonable amount of car selling (and car selling profit) without being looked to pay taxes on those gains.  

Here in Ohio, IAA limits me to buying 6 salvage title vehicles per calender year.  I suspect this is a state thing and not an IAA thing.  However, I have not seen a limit to how many Original/Clear title car I can buy per year.

I was unaware of this 6 salvage vehicle limit until I tried to buy my 7th.  

IN GA. I think it's 7 sales with out a dealer license, buy all you want.  Fuzzy I can buy salvage all day, not bill of sale or clear Title though.

I can not bid Today, GO FOR IT.