Copart Glossary
You can learn all terms related to the Copart auctions here.
Account Settings
The Account Settings menu lets you update information like your mailing address, email address, or change your password. You can also upload any needed documents, upgrade your account from Basic to Premier, or register to start selling vehicles with Copart.
BID4U
BID4U is an automated bidding system where the system will bid for you, by one increment at a time, up until your Max Bid is reached. This works both during the Pre-Bid period and Live Bidding.
Broker
A Broker is an intermediary who holds the right credentials to bid & win on your behalf in any state where licenses and documents are required to buy cars at auction. If you are an international Buyer, Copart can connect you with a Certified Reseller who works in your region.
Buy It Now
Buy It Now is the price a Seller is willing to accept for a vehicle. This allows you to buy the vehicle immediately, if licensing allows, before it goes up for auction.
Buying Power
Buying Power is the total amount you can spend in bidding, or the total amount of active bids you can make on vehicles at any given time.
Clean Title
Clean title is a vehicle with little-to-no damage. It is a title that an insurer or state has never changed, so the vehicle has never been deemed a total loss.
Clean Wholesale Value
Clean Wholesale Value is the estimated wholesale value for a vehicle in clean condition. No adjustments have been made in relation to the vehicle’s actual current condition. Copart makes no guarantee, representation, or warranty as to its accuracy nor to the value of the vehicle at the time it is sold.
CrashedToys
CrashedToys is Copart’s inventory of powersports vehicles that includes motorcycles, dirt bikes, ATVs, quads, jet skis and snow mobiles, along with other exotic vehicles.
Copart GO Vehicles
Copart GO vehicles are listed for sale through our Copart GO App. The GO App allows anyone to post a vehicle for sale in minutes from locations across the country.
Copart Select
Copart Select is Copart’s inventory of clean title, wholesale vehicles. All Copart Select vehicles are backed by Copart’s arbitration policy and come with a free vehicle condition report.
Copart Shipping
This is Copart’s delivery option for those looking to transport their vehicles within the U.S. Members who purchase domestic transportation through Copart are not charged for additional storage fees and most vehicles are picked up within 6 business days after payment.
Copart Title Mailing
With a valid Power of Attorney on file, Copart can mail vehicle titles directly to a U.S. mailing address.
Copart Transportation App
The Copart Transportation App makes managing vehicles faster and easier for both tow providers and transporters. Dispatching, scheduling pick-ups, gate passes, confirmations and all other processes are managed in the Copart Transportation App.
Counter Bids
When a vehicle is listed with a Minimum Bid or “On Approval,” the Seller may contact you to negotiate a final sale price. You can exchange offers and counter offers until you arrive at a price you both accept.
Deposit
Deposits are a refundable amount of money you must place on your account to bid & win. If you are a Basic Member, you will need to place a deposit of 10% of the total amount you wish to bid up to. If you are a Premier Member, you need to deposit $400 to bid up to $100,000 a day. Premier members must keep their deposit on file at all times to keep their premier status.
Document Assistance System
Document Assistance System helps you determine what licensing documents you need to bid on vehicles in specific states. At each step of our registration process, the system will prompt you to upload the required documents and guide you on what qualifications are needed.
Enhanced Vehicle
Seller has permitted Copart authorization to perform an enhancement service to the vehicle. This designation does not guarantee that any enhancement service was completed but rather indicates that qualifying vehicles would likely be enhanced. Enhancements can include car washes or vacuuming, for example.
Live Bids
Live Bids occur in real time during the live virtual auction.
Max Bids
Max Bids are the highest amount you are willing to bid for a vehicle.
Monster Bid
A Monster Bid is a bid placed several increments above the current bid and will immediately advance the Current Bid to that amount. A Monster Bid cannot be undone once made, and other bidders may still outbid you.
Offsite Vehicles
Offsite vehicles are stored somewhere other than Copart locations. In some cases, a listing will note a specific pick-up location that isn't a Copart facility.
On Approval
The Seller has reserved the right to approve or reject the final bid from auction. The Seller has until 8 p.m. PT, one (1) business day after the sale, to counter or approve the bid. The highest bidder is obligated to purchase the vehicle if the Seller accepts the final bid within the approval period.
Preference Center
Customize your Copart experience through your Preference Center. The Preference Center allows you to setup your alerts and notifications, input the vehicles of your interest and pick your preferred locations.
Pre-Accident Value
This estimated value is provided by our Sellers and/or sourced through a third-party vehicle valuation tool and relates to the pre-accident value of a same or similar make and model vehicle. Copart makes no guarantee, representation, or warranty as to its accuracy nor to the value of the vehicle at the time it is sold.
Pre-Bids
A Pre-Bid allows you to place your bid before the auction begins. You may win a vehicle just by having the highest Pre-Bid.
Pure Sale
Pure Sale is when no minimum bid or reserve price has been set. The vehicle is awarded to the highest bidder at the close of auction no matter the price.
Reserve Price
The Seller has set a minimum price on a vehicle. If the Reserve Price isn’t met or surpassed during the auction, the Seller has until 8 p.m. PT, one (1) business day after the sale, to counter or approve the bid.
Run & Drive
According to the auction, at inventory, the vehicle was “Run & Drive” meaning the vehicle: 1) started under its own power or with the use of external jump box, 2) was put into gear, and 3) moved forward. This designation is no guarantee, representation, or warranty that the vehicle will be able to start, be put into gear or capable of moving forward at the time of the sale.
Salvage Title
The government documents the ownership of the vehicle by issuing it a Salvage Title. This new title is usually issued when an insurance company has declared a vehicle a total loss, and that the cost of fixing it is greater than the value of the vehicle. But different places have different ways of labeling a vehicle as Salvage.
Salvage Vehicle
Salvage Vehicles are vehicles with salvage titles, which are usually issued if the cost of repairing a vehicle is greater than the vehicle's value.
Title Pending
Copart is in the process of acquiring the vehicle’s title from the Seller or the State.
VB3
Virtual Bidding version 3 is Copart’s proprietary online auction system that offers several ways to bid & win based on the needs of different Members & Sellers.
Vehicle Alerts
If you can’t find the vehicle you’re looking for, you can set up a Vehicle Alert and we’ll notify you when a vehicle that matches your search becomes available for auction on Copart.
VIX Sales
Virtual Internet Exchange. These vehicles are repossessed or total loss vehicles that aren’t in the possession of Copart. They can only be inspected in online photos. After the sale is finalized, the successful bidder can pick up these vehicles at the Copart yard it was listed under. These vehicles can only be bid on with live bids. Pre-Bids are not allowed. The final price of these vehicles is subject to Seller approval.
Wholesale Vehicles
Wholesale vehicles come from fleet, rental and finance companies, and are usually in better condition than the damaged vehicles we sell for insurance firms.
Watch/Watchlist
When you find vehicles that interest you, click the Watch button to form your Watchlist. Your Watchlist keeps track of the sales date, lot number, and current bid before the live auction begins. You can set up email and text alerts to let you know when the vehicle is coming up in a live auction