Deposits and Premier Members

Buying Power

Buying Power is the total dollar value you can use to bid on a vehicle. You must have Buying Power to bid on and buy vehicles at Copart.

With a Basic Membership, you can bid up to $2,000 without a deposit. To bid more, you’ll need to deposit 10% of the total amount you want to bid. So, if you wanted to bid $20,000, you’d need to make a deposit of $2,000.

If you’re a Basic Member, you have two ways to increase your initial $2,000 Buying Power: 

1. Upgrade to a Premier Membership
2. Add a Deposit to your account

If you are a Premier Member, you only need to make a one-time deposit of $400 to bid up to $100,000 per day.

Upgrade to a Premier Membership:

A Premier Membership is typically the most convenient choice for most Copart buyers. When you upgrade to a Premier Membership, your buying power is increased significantly without having to add an additional deposit.

There are two fees when you upgrade to a Premier membership:

• Basic Members upgrading for the year will pay an upgrade fee of $196 CAD followed by a $265 CAD** annual fee the subsequent years

• A one-time deposit of $400 CAD**

**Members who are not residents of Canada will be treated as international members and will be charged these fees in USD ($400 USD deposit + $200 USD annual fee).

A Premier Membership is the most convenient choice for Members who:

• Plan to purchase a large number of vehicles

• Want to be able to bid on multiple vehicles at once

• Want to avoid having to add deposits each time their bidding limit is reached.

Note: Upgrading to Premier does not mean that you will be eligible to bid on all vehicles. Eligibility is determined by the licenses you have on file and the provincial laws about buying vehicles at auction. You can visit our “Help with Licensing” page for more information on license requirements.

Add a Deposit:

If you are a Basic Members who does not want to upgrade to a Premier Membership you have the option to increase your buying power by adding a deposit to your account. Adding deposits to increase your Buying Power is best for Members who are purchasing only one vehicle at a time. The deposit must be at least 10% of your desired maximum bid amount.

• Example: If you would like to be able to bid up to $4000 on a vehicle you will need to have a deposit of $400 on your account

You may view your buying power on the Member Dashboard under the “My Buying Power” widget. All deposits are 100% refundable and will be remitted to the member once their account is clear of all outstanding invoices. To request a refund on your deposit, sign-in to your account, and click on the Account Information page then select “Deposit Refund.”

Note: Deposits cannot be applied to any vehicle purchases. Deposits and Upgrades cannot be added to Bidders accounts (Bidder accounts exist under a Broker Account).