Using a Broker to Buy Salvage Cars at Copart and IAA Salvage Auctions and Save Money on Auction Fees
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- Опубліковано 19 лют 2021
- This is the training titled "Should You Use a Broker to Buy Salvage Cars at Copart and IAA Salvage Auctions?" that I just did LIVE in our private Facebook group. In this training I discuss how salvage auction brokers work, when should you use them and is it worth using a broker to buy salvage cars from IAA and Copart.
I also recommend brokers I've personally used and discuss broker and auction fees and how you can save the most money on your next salvage car.
If you like this type of content please be sure to subscribe to our FREE Facebook group called "Salvage Secrets!" The link is below..
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Join our Salvage Secrets private Facebook group here: bit.ly/34uQBr8
Download my FREE guide "5 Biggest Mistakes to Avoid When Buying a Salvage Car" here: bit.ly/3a54Vrz
Our cars are available for sale here: www.etautocorp.com/inventory - Авто та транспорт
I used a broker to buy a 99 jeep from copart.
(Below numbers are all from 2020)
Winning Bid: $2700
Broker fee: $200 excluding the $400 deposit.
Copart Auction fee: $700 & storage fee of $50
Transport fee: $420
Final cost without repairs: $4075
I would have rather bought the jeep locally.
Please make sure you consider all the fees when bidding on a vehicle.
I agree, buying locally is better because you can actually check out the condition of the car in person by going to the location ahead of the auction.
Yes you're right, all these fees add up pretty quickly.. That's why I don't recommend buying older cheaper cars from IAA and Copart- not only do they usually have many issues but the fees can be almost as much as the car you're buying..
@@SalvageSecrets Hi, please how will I get in broker?
How much were repairs?
Exactly
Andre, thank you for taking the time educating all of us about what "not" to do..........., you're a gentlemen sir!
Please email me your email address i need some help over copart
You're really being a blessing to others! Thank you for sharing!
Thank you man for all this great informative content and i really like the happy always smiling attitude of yours. Keep up the good work buddy!
You provided viewers with great and timely information! Subscribed!
Great info. Concise and well presented!
I like this guy, always his real self
You're awesome man! I literally spent 2 days on hold trying to figure this stuff out! Never got a definitive answer. You're too cool! Thank you!
By far you the only one that gives the information straight forward. I like how you explain everything
i am so glad this vid exists. EXTREMELY helpful - thanks a lot
best explanation out there so far. Thanks for the effort
Great information presented in an excellent way!
Thank you for sharing this valuable info bro.
Thank you for the information on auctions you have answered all my questions 👍
Good information. Appreciate you.
Really GREAT information here. I am grateful and thankful.
Helpful clear information , thanks for your detailed easy to understand explanation 👍
thank you ,,, Andre, you save first timers lots of headaches GOD bless
Thanks! I learned a lot as usual ❤
Thanks!!!! This video helped me out so much. All the questions I had left that I couldn’t find answers to I found in your video! Def going through a broker now
I really appreciate this info! Thanks thanks
Great video brother great great video 🙌🏼
You dropped so many gems 💎 thanks 😊
Great video. Excellent information. Thank You
I enjoy your video, so simple and well explanation 👍
Your chanel Is great dude. Thank you.
Great and helpful video, thank you so much.
Thanks man, subscribed
Thank you I really enjoy your video very informative
This should be required viewing! ty. 1 point on very low bids: if the car/bike stays below
Awesome, thanks for the info
Very helpful, Thank you!
Thanks for all good info Bro!!
Good job man keep doing good and more videos
Thank you for your efforts
Thanks for the explanation.
Thank you Andre👍🏿💯
Thank you that’s so helpful
Thank you for this video.
regards from Slovenija
Love it bro
Great detailed information
Thanks bro God bless you appreciate the info
Thanks, man!
Damn brother you content is gold
Great video, I'm not even interested in buying a car right now but I enjoyed all the great information
Thanks Dre
it is a chance like everything else if you want to be successful listen to those that want to help you and plan!
good job on video
Great video brother! I live in South Florida. Recently sold a car and I am highly interested obtaining other vehicles to sell. Thank you!
Sorry Andre. I realized you did answer my questions. Thanks
thx for the tips
great DUDE... man thanks so much...
Thanks for video
Andrei........thank you for putting this info together. It is very useful. Although I live in Arizona, I had seen a car I was interested in at the local Phoenix Copart facility. I called them about taking a look at the car ahead of bidding and they said I could not. Only member can even view the car. Since the basic membership caps the highest bid on a vehicle, and this one could go up to $20k, I was not interested in purchasing the premium membership to look at one car. Now, I have found another car in Nevada which requires a broker. When I researched brokers, nearly all of them have very bad reviews (and some fake good reviews). Their BBB ratings are terrible. I would also need to hire an inspector for the car in Nevada, as you suggest in another video. The broker you said you have used in Michigan was the one I was thinking of using already, although there are a few negative reviews. Your price breakdown would seem to indicate that a broker is the way to go for someone like me looking at a little higher-priced car. Any additional suggestions?
Legit..Great video
gr8 infos. Cheers
You are the best youtuber in this category, I'm surprised you get so little views.
Thank you! Don't worry we're getting there.. ;)
I really agree with this comment
@@SalvageSecrets keep it up. also please do some videos for foreigners some advice on shipping would be much appreciated
thank you !
Thanks dude ! You saved me on this one ❤ appreciate! Hope I can get my Camaro shipped to my country: gonna use a better bid
Broker shipping seems to cost more as there are just flipping a service. One UA-camr said they nearly doubled the price of shipping quoted from Copart.
Andre I just like to make a comment about finance and insurance on these vehicles. I’ve been doing this for close to 30 years and I had many vehicles that had went to the auctions were rebuilt by me and then try to be sold even got inspected at dealerships you could find them nothing wrong with it yet banks would not loan on them and Insurance companies would not ensure them. Now for most people that are looking for a deal this is not that big a problem a lot of times they can get away with doing other types of finance and or getting insurance that is not your highest grade let’s say but that I think that really needs to be covered because reselling is so much more complicated and it’s tough to explain to people even when the car is perfect. i’ve lost many sales just because an insurance company made someone believe that the car was junk completely wrong by the way and or a bank just would not loan any money on it and you couldn’t talk to people you know in the same sense. Just some thoughts I really like your channel I’m watching all your videos getting ready to do my own on some Volkswagen pick ups just kind of a fan and I like your enthusiasm and just wanted to make sure you think about that when you’re talking with other people because that’s been a problem for me many times thank you
I am following your videos and i think that this is the best way how you are doing it as a marketing stratgey also. Purely the best videos on the topic. Adnre, it is intersting for me you almost say точка, can i ask you from where are you comming ?
So, if you use a broker, and it delays the process by several weeks, then where is the car going to be during that time? Will it have to say at the auction yard (thus rack up parking fees), or will the broker have to tow the car to his own location (thus charge you for towing), or can you immediately pay the broker what you owe him and go pick up the car from the auction yourself?
Great vedio
Excellent information, better bid is more copart cars ... I didn't like their fees they are higger then Salvage bid. Even I am going with advance motors
ANDRE .. you don't need to have an automotive dealer to get the business price
You can have ANY KIND of a business license, not necessarily a car business
You could be an accountant, car repair, electrician etc
thank you for edu video :)
Thanks 🇺🇸
Thanks for the great info. When using a broker, Do you know if we pay taxes to them or to the DMV in CA? Thanks
You are the best
Wish I would have found this video before I signed up. But still great info.
Great advice and videos thank you so much!!
Hello do you have more information about the car dismantling service ?
When one buys cars in copart with a clean title, the broker does it necessarily register the car in the name of the buyer in the dmv or not? Thanks
Great Content! question if anybody can answer: Can you open a Business account on Copart if you have a foreign (Non-US) business license?
Wow
Man thank you for this explanation 🙏🏻 ❤
You are awesome
Hey Andre. I always like to stop by and watch your videos. Thanks.
Two questions came to my mind while watching this video:
You said you used a broker a couple of times. I was wondering why since you're already a licensed dealer?
Do brokers allow individuals who register with them to have 100% access to inventory or there will still be restrictions on certain vehicles?
Thanks
Some states require special bid cards in order to bid.
The bidder number you receive will allow you to bid in most states but some states don't allow bidders to bid and the broker will need to place the bid for you. Some brokers can live bid with you while on the phone with them.
Copart places these restrictions on bidders so that only the bidder can bid on, say, bio damaged vehicles or any lots in WI / CO etc.
Your broker should have a list or email breakdown of these rules, it's a lot to list.
Yow bro for this video i will subscribe
if it was-n't for your help with all the good info. I think I would have lost my hard earn money buying a "trap" kind of car .THANK YOU
Great info brother,thank you for sharing.
💪💪💪💪💪 good stuff
Thank you for the knowledge. I bought a car from auction under a dealer and it came with a nocking Engine. The car is in the dealers name. Can I sell it as is without registering it under my name?
excellent video now I'm concerned when you say a broker takers 4-6 weeks to do paper work. copart will be charging me storage fee of $5 first day $10 second day and I think $20 for every other day? or do they release the vehicle right away to the broker? or just release vehicle to me? which I this there aposed to doing cutting there transporter out. I expect to get this vehicle registored in Alabama a couple days after delivery. not 4-6 weeks. I need to be driving this vehicle right away.
Are you guys still selling the Audi tts
Hi bro, do the brokers offer car inspection?
I live in Louisiana!
Thanks alot for explaining I was trying to buy one but they didn't let me as a public buyer in California 😅
Thank you for the detailed info. I'm a public Copart Buyer and I've purchased around 10 cars to far. Only being able to purchase in far away states that alow public bidders is very time consuming when you have to pick them up yourself. Hope to check out Advance motors tomorrow.
as of today 10-24-22, I do not see Advance Motors LLC listed as a broker for IAAI. They are still listed as a Copart broker.
Спасибо, подписался
Could you cover generally what you need to do after buying a salvage title car ? As in , the vehicle inspection and rebuilt title portion. I know that is hard as each state is a bit different but general overview of the process would be cool, going to be trying to bid on my first salvage this month, I had all the fees calculated to that point, then I realized its was going to be another 500 dollars i fees to the state :X . Its funny how Fees are well over 75 % of the price ill eventually have to pay.
They gotta keep the common man down some way. For people flipping cars, it almost seems like they don’t want you to be able to do such things
I was a buyer of this and it is very clear that money is lost, honestly, it is better to get dealer licenses without having a lot since the cars are ready for reselling and in the salvage auction many of those cars have been through floods and you can be cheated
Hi, I have a question...
How can we identify the exact date of auction in IAAI which is not yet assigned for auction..
Great video I’m in need of some help looking and purchasing for my first car can you help me ?
What brokers you recommend?? best service and less fees?
Is there a broker that will send you a REassignment so you can sell it directly to anyone or a business? like throw it back to an autcion.
Hello, does copart offer shipping services?
I called Advance Motors, LLC. They are a registered broker for IAA although there is no mention on their website because they focus on Copart. They have a completely different registration for IAA and there is no 45 day trial, only a $100 annual registration fee. I see no way to register for IAA on their website so I would be inclined to not use them for IAA.
General question re Sales Tax on a Copart Salvage Car... I know from previous experience buying from other local dealers (who also buy from Coparts) the local place does NOT charge me a State Sales Tax... I just incur that when I go convert that Salvage Title in A Rebuilt/Reconstructed Title...
So bottom line, if I were to buy a salvage car through Copart either on mu own (if poss) or if by going through a broker, I will also incur the Sales Tax on Copart Salvage Car??? And then another Local State Sales Tax at the end upon trying to get the Rebuilt Title (i.e. Double Dip on Taxes???)
Would it be cheaper to make a DBA for a business License to re sale cars ect... or just go with a broker ?
The bad thiing about some brokers, some of them require a security deposit (~10%) which can be loss if you win the auction and you don't pay for the vehicle. Also, they will charge you another 10-15% as a relisting fee.
You shouldn't bid if you cant pay
Can I use AAA to pick up from aution, or from broker?
Are you required to pay for transportation just to get possession of the vehicle? I want to drive the clean car or transport with a trailer myself.