robotfo0d

I have searched a bunch of forums including this one.. and have read quite a bit about peoples experiences buying through copart.com - some good, some bad... the one thing I havent been able to find is detailed information about the buying process from someone with first hand experiance.. and since my target is an rx8, I figured this would be the best place to ask. I am looking to buy a car that is a good shell to start building up as a track car.. so please, dont reply to this post telling me that I wont know the condition of the engine or interior is or whatever.. that doesnt matter to me.

My concern w/ buying thorugh copart is in the final details.. I have found a bunch of cars that would be perfect for what I am looking for and many of them have pretty low bid amounts... If I was to say win the auction with a bid of say $1000 for example - what will I have to pay (aside from obvious towing fees) to actually get the car and paperwork in my hands. I would hate to buy a car with a winning bid of $1000 and then end up having to pay an additional $3000-5000 or something in hidden fees and such??

hopefully someone with first hand experiance can chime in with some of the end details. thanks!

DocBeech

iTrader: (1)

never buy a car sight unseen and not test driven. Period. If your going to make that kind of investment then you need to travel to the vehicle. The only exception for this is if you have someone there to look the vehicle over for you. Like a broker or advisor. Otherwise its a foolish move because you don't know what your looking at repair wise, damage wise, and mechanically.

robotfo0d

no offense to the above.. but that response is exactly what I was not interested in getting.


Please, I need first hand experiance of the copart buying process only...

MIAMISFINEST

I bought my 2007 Rx8 with 27k miles for $5300. There are no hidden fees. You just gotta pay an extra $500 for the shipping of the car if its from a different state.

Rotary-RX8

iTrader: (1)

WTF !!! Are you serious lol. Thats a crazy deal

MIAMISFINEST

Tell me about it, the engine works great too. It just had a minor leak and the engine wasnt mounted correctly but other than that it was a great buy!

RX8Soldier

iTrader: (24)

Did you order your 8 from copart.com?

MIAMISFINEST

Yes sirrr

robotfo0d

thanks for the reply miamisfinest! you have a PM.

robotfo0d

got the info I was looking for! thanks

RotaryResurrection

iTrader: (3)

There are additional fees for copart in addition to the face bid amount.

IF you are not a licensed and bonded car dealer, you cannot bid on 95% of the cars shown there. There are a few "no license required" cars up from time to time. You can bid on those. Copart gives you an initial $1000 bid limit, and if you want to bid more than that you'll have to pay them an additional security deposit equal to 10% of your total bid amount. So if you want to bid $5000 on a car, you have to mail copart $500 first. If you successfully bid and win a car, your deposit comes off of your total bid. IF you don't win, your deposit sits with them until you either win a car or request it sent back to you.

IF you want a "license required" car and aren't a dealer who wants to file all the appropriate state and local paperwork with copart to bid, you have to go through a broker. The brokers usually charge you $150-400 registration with them. Then they charge you $200-250 per car you buy through them. They usually give you an initial $1000 bid limit, and if you want to bid more than that you'll have to pay them an additional security deposit equal to 10% of your total bid amount. So if you want to bid $5000 on a car, you have to mail your broker $500 first. If you successfully bid and win a car, your deposit comes off of your total bid. IF you don't win, your deposit sits with them until you either win a car or request it sent back to you.

Copart itself charges you a commission fee on the bid amount. Usually for a $2000 bid it is another $200-250 fee. I think they charge you a $50 internet bid-fee if you win a car via internet pre-bidding or via the VB2 live internet sale. (if you physically go to the sale in person you do not get charged this). They also have a $35 gate/lot fee when you physically show up to pick up the car.

So honestly that $2000 wrecked rx8 is going to cost at least $3000, and that isn't accounting for actual transport/shipping costs. If you have your own truck and trailer then you're only out gas and time; if you're paying for a shipper to move it for you, that's going to be $600-1000 extra. Sometimes the shipping services charge you extra for wrecked/non operational vehicles because of the added difficulty in loading and unloading them.

Anything on copart's site is generally insurance payout...either a wreck/flood/theft recovery with salvage title, or a repo of some sort. Not all cars have keys.

I think you can show up in person and inspect the vehicle you intend to bid on but I am sure you can't test drive them. You could maybe try to start it in the parking lot, that would be about it.

Also copart requires you to pay for and pick up anything you win within 2 business days or they start charging you fees.

RotaryResurrection

iTrader: (3)

There's a no license required blue 04 AT 79k salvage title with almost no body damage (needs a bumper cover), runs/drives, for $2550 initial bid, selling tomorrow at noon, but that will probably go up at least $1500 at the sale. Then the additional $1000-1500 in fees, plus transport. Not such a good deal anymore is it?

RotaryResurrection

iTrader: (3)

There's a license required 06 AT 39k in miami selling next week with almost no front end damage currently with no bid.

RotaryResurrection

iTrader: (3)

There's this fine piece of equipment for $100 current bid in texas...get it while it's hot.

robotfo0d

thank you rotaryressurection! I appreciate the responses

bren5279

iTrader: (15)

Hey Robotfo0d
The Rx8 I parted out recently I actually bought off copart.

You WILL NOT be able to get one for under 2k total, at least not one thats able to be fixed. I bought it hoping to fix it up but it turned out it had unmentioned frame damage so I ended up parting it out. That and there are about $600 worth of fees. WHOEVER SAID THERE IS NO FEES EXCEPT DELIVERY IS DEAD WRONG!! Ive been watching rx8 auctions go and the last one I saw go for 1800 (so about $3000 after fees) with moderate frame damage.
The problem with Copart is they have a tendency to hide damage, so you have to be prepared to take a total loss should the frame be cracked or such.


Im actually planning on buying a blue manual one (going up to about 3k [end cost of about 5k]) in TX that has a front left impact (pretty minor but some frame damage) But im only doing it because I have stripped an rx8 to the frame so I know a decent amount, and I am prepared to replace the engine and trans or even take a total loss should the frame be cracked.

Its basically a big risk. If you arent prepared to take a total loss DONT DO IT.
You would be much better off finding somone here on rx8 forum that crashed their car.