Seems like a contradiction in terms.
Late model Subaru. Have to go through a broker to bid. Nothing at all about a lien on the Copart listing, just says "electronic cert of title", but when I pull it up on broker's site, the page title says "clear title w/ lien". The actual page says nothing about a lien, just the title/heading of the url.
Like so.
Anybody have any experience with this? I haven't bought from Copart before and really dont want to wind up bass ackwards on a drivetrain donor because the lien wasn't made clear.
Is the drivetrain rare enough to make it worth the potential hassle?
I would advise caution. I am currently crossways with CoPart over a 2007 VW Eos that I recently bought. Advertised as "Running and Driving". Came with unfastened oil pan, missing oil pump, lots of disconnected hoses, and missing engine parts. 2 weeks at one garage, towed to VW specialist, not fixed yet. I have bought about 20 cars from CoPart, this is the first one that was blatantly misrepresented. Maybe there have been changes at CoPart. Buyer beware.
Mark
mke
Reader
4/11/19 7:55 a.m.
Maybe call the broker? Normally a lien must be cleared before the title can be transferred....so normally you don't see anything with a lien at auction. My guess is the title has a the lien and a lien release is attached which meets the auctions requirements as a transferable title but the new lien free title has not yet been issued or maybe not applied for....but I would call the broker and ask to be sure.
Correction:. Missing oil pickup. From the oil pan. My mistake.
In reply to m_walker26 :
This was the last run & drive 'Minor Dents and Scratches' car I bought from Copart. Really should have been described as mechanical damage for all the stuff that was broken/missing.
I have no Copart experience but do have IAA experience.
I have no broker experience because my IAA location allows public buyers, but...
Could the Broker be the lien? That is, you are giving the broker a deposit of lets say $500 and then he is buying this $2,000 car for you. You will then pay the broker with some form of secured payment.
But, the Broker is buying the car from Copart off a bank line of credit that they established as a business. As such, the Broker may not receive the title from Copart the same day they receive the car. The Broker does not get the title until their line of credit is satisfied with their bank. This "satisfied" should not take long, maybe days.
Ask the broker how soon you receive title on cars purchased through them.
Said another way...
Copart is selling a Clear Title but you are not buying a car from Copart, the Broker is buying a car from Copart. You are buying a car from the Broker and he will borrowed money to buy it.
Or, I could be wrong.