Using a Broker to Buy Salvage Cars at Copart and IAA Salvage Auctions and Save Money on Auction Fees
ฝัง
- เผยแพร่เมื่อ 14 ต.ค. 2024
- 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....
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
By far you the only one that gives the information straight forward. I like how you explain everything
I can save you 30 minutes of your life watching this rambling video. Brokers are a terrible deal in states where no license is required, i.e. GA, PA etc... In states where a license is required you have no choice if you want to buy. Figure $500 on top of all the Copart/IAA fees (which are many and new ones are added frequently... recently they added $10 environmental fee and then $20 title pick up fee on every sale).
This should be required viewing! ty. 1 point on very low bids: if the car/bike stays below
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!
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
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
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!
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
You're really being a blessing to others! Thank you for sharing!
I like this guy, always his real self
i am so glad this vid exists. EXTREMELY helpful - thanks a lot
Great video, I'm not even interested in buying a car right now but I enjoyed all the great information
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
Also, these Auctions, "stage" some of the vehicles to hide damage, so be careful. When in doubt, pay for an inspection before you buy!!! This guy knows what he is talking about. Just know that these auctions are not your friend.
You provided viewers with great and timely information! Subscribed!
Thank you so much for this type of education
thank you ,,, Andre, you save first timers lots of headaches GOD bless
Sorry Andre. I realized you did answer my questions. Thanks
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
do you know if you have to have a physical location in order to be qualified ? like mechanic shop or home office / online business counts ? not much information out there . thank you
If you enjoyed this video please join our FREE private Facebook group called Salvage Secrets here: bit.ly/34uQBr8 for more!
I usually go Live in the group every week and discuss everything you need to know to buy and sell salvage cars profitably.
You can ask me questions too! Thanks for watching.
Excellent job. I am interested in 4 Runner. Do you buy , repair and sale?
Can I contact you?
What about titles
A little knowledge goes a long way. If you wish to buy a car from a retail shop, knowing what their cost is will help you get the best price. These auction sites can clearly save money IF you have the time to deal with the paperwork the shipping costs the gate fee and the other surprises. I feel a broker is in my best interest after seeing this. Thanks
Thanks for the video. The question I cannot find the answer to is: 1- Can I, as a tourist, buy a vehicle through a broker?
2- When purchased through a broker, for example, when the vehicle is brought to the address I specified, does the intermediary company deliver the vehicle to me with a "clean title"?
Thank you for the information on auctions you have answered all my questions 👍
Thank you for sharing this valuable info bro.
Great info. Concise and well presented!
Thanks! I learned a lot as usual ❤
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 ?
best explanation out there so far. Thanks for the effort
Helpful clear information , thanks for your detailed easy to understand explanation 👍
Good information. Appreciate you.
Great video
Well explained.
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.
Great video brother great great video 🙌🏼
Damn brother you content is gold
Great information presented in an excellent way!
Thanks dude ! You saved me on this one ❤ appreciate! Hope I can get my Camaro shipped to my country: gonna use a better bid
You dropped so many gems 💎 thanks 😊
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.
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.
Can you do a video for foreigners outside the USA?
I.e from payment to shipping.
If you are buying on Copart there’s shipping estimate option under the vehicle pictures where you can select Domestic or International then you can fill your destination and you’ll see shipping estimates.
@@k.matthewfaleye8410what about the buyer licence, do i need one if im shiping the car outside of the US?
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
Make sure you know that you can’t register a car in your state if you by it via broker
All cars in your state will be “ export only “ not eligibility to register in your state
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?
Wish I would have found this video before I signed up. But still great info.
Great video brother! I live in South Florida. Recently sold a car and I am highly interested obtaining other vehicles to sell. Thank you!
Thanks for the explanation.
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?
I really appreciate this info! Thanks thanks
Really GREAT information here. I am grateful and thankful.
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.
Excellent video can I have a Good recommendation in a Good broker in the New Jersey please do you recommend advanced motors in Jersey
Thanks man, subscribed
Broker shipping seems to cost more as there are just flipping a service. One TH-camr said they nearly doubled the price of shipping quoted from Copart.
I enjoy your video, so simple and well explanation 👍
Good job man keep doing good and more videos
Your chanel Is great dude. Thank you.
Great detailed information
Thanks alot for explaining I was trying to buy one but they didn't let me as a public buyer in California 😅
Thank you I really enjoy your video very informative
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???)
Thank you Andre👍🏿💯
Excellent video
I think we are the best you can bid mostly in any auction plus copart and IAA
Yearly fee 2100 ..
150 for reassignment..
If you want to do copart and IAA only 1000 ..full year
150 for reassignment..
No other fee ...
And much more
If I live in NY, but the car is being sold in PA or VT--can I buy that car without the broker requirement/license?
Autobidmaster
Did you get the answer?
Thank you for this video.
regards from Slovenija
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
My question is if you don't register with Copart and you go with a broker, then how can you inspect the car at Copart?
You should still be able to inspect the vehicles if you give them the buyer number that the broker provided you with- they should let you in.. If that doesn’t work for some reason you can pay a $25 fee to preview the cars. Make sure you have a yellow vest with you or they won’t let you enter the yard..
Advance Motors fee is now $350 Plus $25 title mailing fee. $20 Wire transfer Fee. $45 Document Fee. So thats a total of $440 per transaction
And also a $50 Copart Fee, So thats almost $500 per transaction.
Everything has changed, and now IAA and Copart now take same fee of 7% from public buyer and 5.5% from broker. The difference is not too much, just 2.5% or $ 200
So does that mean it’s fully open to the public no limitation on inventory
You still can’t buy a clean Title without the license
@@rafaelcastro6743 you can, there are a lot of states where you are allowed to buy clean title.
@@gbazil sadly not in Tx
@@rafaelcastro6743 yep. Seems like all "wealthy" states have this ridicule law/lobbying
Can you still bid anything for a car with Copart fees plus broker fees!
Madness !
Thanks bro God bless you appreciate the info
But the broker doesnt have the same cars on his website as the ones on Copart. So if I just use the broker, how do I bid on the car on Copart without paying them the anual membership as wel.?
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
Very helpful, Thank you!
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?
Hello do you have more information about the car dismantling service ?
Looks like Advance motors quit IAA, its not listed anywhere on their site. Just mentions of Copart.
Awesome, thanks for the info
I need car shipped, picked up, pushed, flown, airdropped, floated, drifted rolled or otherwise gotten to preferably Eastern NY
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
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.
Good morning, afternoon, evening... should I open bank account in order to buy cars?
Please 🙏 I am waiting for your reply.
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.
Why not just create a LLC and get a business license to bid? In most states, that costs less to register than these fees. Possibly a dumb question, so excuse me if it was asked elsewhere.
Thank you for your efforts
Hi bro, do the brokers offer car inspection?
Hello, Andre, I live in Rego Park, Queens NY. I'm looking to buy a Honda Element and would like to ask you if you can provide your service to help me buying the car.
Thank You in advance for your response.
Would it be cheaper to make a DBA for a business License to re sale cars ect... or just go with a broker ?
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
Thank you that’s so helpful
Andre,
Really great information, thank you.
That is a dirty ass door my friend, lol.
Good eye! 😝 I’ve noticed that too! Yep, that door could use some 🧽 🧼
Can you buy from any of those state if you live in a different state without a broker? If you live in New Jersey can you buy from P.A
thank you !
Thanks Dre
I need IAA both you mention they’re not in IAA
Great Content! question if anybody can answer: Can you open a Business account on Copart if you have a foreign (Non-US) business license?
Love it bro
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 ?
Wow
Man thank you for this explanation 🙏🏻 ❤
You are awesome