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Old 11-08-2018, 01:28 PM   #1
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Copart

I was perusing youtube, and in a video I was watching a mention was made of

c o p a r t dot c o m

Has anyone here heard of this? Looks like some great/not so great opportunities.

Thoughts?
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Old 11-08-2018, 02:18 PM   #2
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I've bought plenty of cars from Copart auctions. Some great deals, some not so great. Generally if you win an auction, it's because you outbid the businesses that know what the cars are worth. If you know what you want and your labor is free you can come out ahead. Fees can add up quickly if you are not a 'business' buyer.

I have flipped a bunch of Hondas and Fords. The ones that were easy to sell were cheap family cars. I bought my flood car from Copart in Houston: The Houston 04 SE
Bottom line, as a non-business you can often find better deals on Facebook/Craigslist, but if you want a specific car model that isn't easy to find locally, it can be a good source.

Edit: Learn your state's laws and regulations before you spend a significant amount of money. Oklahoma is pretty easy to deal with for titles, registration, and disposal. Some places can be a lot more difficult and expensive.
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Last edited by 78F350; 11-08-2018 at 02:25 PM.
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Old 11-08-2018, 03:42 PM   #3
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I would imagine if you watch like a hawk, you may find some deals. But the hand full of times I've been interested in something, it has gone for WAY more than I was willing to pay (even considering my time as 'free'). By the time you paid for parts, the price was approaching low private price of a clean titled car. Not enough meat on that bone to make it worth the hassle of dealing with a dirty title.

And I think as an outsider, you have to 'hire' a broker who bids for you. That's how it was many yrs ago, not sure if it's changed since.
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Old 11-09-2018, 06:06 AM   #4
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Buying from auctions is like poker in away. The auctions deal out the cars and you have to decide when to hold em and when to fold them. A lot of people don't have the stomach for betting thousands of hard earned $$$ on a vehicle they know nothing about. I've bought close to 300 vehicles in my lifetime and know what to look for but even I get burned every once in awhile. It's a little easier for me to recoup my money, as I just part them out. It might take a few months/years though. That being said, there can be some great deals if you're patient and lucky. You'll have to be extra patient and lucky on Copart though. Copart for some reason is widely known by the public. Generally speaking the public gets emotional on bidding and ends up jacking up the price. Professionals are in it for the money and know when to bail (usually lol). I've bought about 10 vehicles this year from Copart. All but one I think I paid too much for.
Most states you'll need some kind of license before they'll let you bid. It varies on how hard that license is to get. I got my license and had established my business before the laws got difficult here in Texas. Copart has links to brokers who can buy for you if you can't get one. I've heard the broker fees are around $250 and you have to deposit the toatl amount you want into their account before you can begin to bid. There's also other fees once you win a vehicle. They usually range from about $300-1000, but it all depends on what your winning bid is. You also have arrange for shipping or pick up. Shipping can be as low as $200 if the vehicle is in your city or as high as $2000 if it's on the other side of the country. Picking up is the best option as things get damaged or disappear with shippers. Be prepared to wait once you get there though. Consider your self lucky If you can get in and out in an hour. I had to wait 7 hours once to pick up a truck at copart in Houston. This was before the flood too! Some locations are better than others.
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