Common Copart Terms

ACV

ACV, also known as Actual Cash Value, is the estimated retail value of the lot that was submitted to Copart by the Seller. This value is displayed on the website as "Est. Retail Value" on the lot pages. This value is the retail value of the vehicle prior to any damage/ accident that occurred. Retail values for vehicles can be obtained from sources such as Kelley Blue Book and other similar web sources. Copart provides this number for informational purposes and Copart makes no representations as to the validity or accuracy of this value.

Body Style

Body Style is determined by the manufacturer's designation of how the vehicle is configured.

BID4U

The BID4U function is available to the highest bidder during the preliminary bidding process. Enter the maximum price you are willing to pay for the lot during preliminary bidding period and BID4U will bid on your behalf up to your maximum bid amount during the virtual auction. BID4U will increase your bid by one increment over the current bid to maintain your position as the highest bidder (up to your max bid amount). This feature allows you to purchase a vehicle for less than your max bid amount (provided the bidding does not meet or exceed the max bid amount you entered).

Colour

The colour listed on our website is a common colour that most closely represented the exterior colour of the vehicle. The colour listed is not the manufacturer’s designated colour name but is simply a general description.

Counter Bid

A Counter Bid refers to a bid that a Seller makes to counter the highest bidder’s offer. Counter bids are submitted after the auction for vehicles that have been designated by the Seller as Minimum to Bid or Bid to Be Approved. Members acknowledge and agree that regardless of whether a counter bid is made by the Seller, Members’ high bids on these vehicles shall remain open to acceptance by the Seller until 6 p.m. of the following business day (following the day of the auction).

CrashedToys

Vehicles designated as CrashedToys are those that are located at CrashedToys specific yards. CrashedToys specializes in the sale of salvaged motorcycles, boats, jet skis and other power sport crafts. These vehicles can be found on Copart.com or CrashedToys.com. Fee structure may differ for these vehicles.

Current Bid

The Current Bid is the highest bid amount being offered for the lot at this time. It is possible that a higher maximum bid amount is on the lot via BID4U. The current bid is listed on the website in the currency of the country of that location/ facilitating auction (Please note Night Cap Sales are represented in USD and combine inventory from Canada and the United States).

Current Sale Highlights

These comments are submitted by the Copart general manager of that location about the listed auction. These comments often include lot information or important notices about the auction.

Cylinders

Cylinders refer to the manufacturer's designation of that vehicle's power train.

Damage Codes

Damage Codes indicate known damage to the lot. Damage codes are listed under the Primary Damage and Secondary Damage (2nd) type sections. Both damage codes represent important information about the lot and one code should not carry more significance than the other.

These codes are limited by their nature and are used to indicate known or reported damage. Copart expressly disclaims the accuracy of damage codes, as this information may not accurately reflect the extent of type of damage of the vehicle. Damage codes should not be used or relied upon for bidding purposes or any other reason. Copart strongly recommends that Members thoroughly inspect lots prior to bidding or purchasing.

Drive

Drive refers to the manufacturer's designation of the vehicle's power train.

Engine

Engine refers to the motor specification denoted by the VIN of the vehicle. Copart encourages Members to inspect vehicles thoroughly in order to verify if the original equipment is present at time of sale.

Estimated Retail Value

See “ACV”

Expected Future Date

Vehicles that are showing “Future” beside the auction date have not yet been assigned to an auction. This may mean that all the required documents to sell these vehicles have been received and submitted to the proper titling authority and Copart is waiting for ownership processing to be completed by the transportation ministry. Once these documents are returned to Copart and any other sale holds have been dealt with the vehicle will be assigned to an auction. Any members who have bid on these vehicles will be notified by email when the vehicle is assigned to an auction.

Fuel

Fuel indicates the fuel type used by the engine as designated by the VIN.

Grid/Row

This designation is used to help our loader operators and yard staff find the physical location of the vehicle at the yard.

Image

Copart takes ten (10) high quality digital images of each vehicle processed for sale. Images are stored in JPEG format.

Item

Item numbers represent the order in which the lots will appear in the live auction. Auctions with a large number of items are broken down into multiple lanes.

Keys

This designation indicates if at the time of inventory Copart is in possession of keys for the vehicle.

Location

Designated the Copart facility that is processing the auction items. View Copart locations.

Lot Number

Lot Number, or Lot #, is the unique identifier Copart uses for each vehicle.

Make

Make is the manufacturer's brand name.

Maximum Bid

The maximum bid refers to the highest bid amount that you are willing to place on a certain lot. Based on the amount you have entered, on eligible lots BID4U will incrementally increase your bid amount to compete against other bidders and keep you as the top bidder, up until you reach your maximum bid.

Model

Model is the manufacturer’s designation of the lot.

Monster Bid

A Monster Bid is qualified as a bid that is more than one bid increment over the current bid amount. During the live auctions, members can go beyond the standard bid amount to submit a Monster Bid of a greater amount.

Odometer Descriptions

Odometer descriptions are a reflection of odometer reading, as can be seen by the yard agent. Odometer readings/ types fall into four categories:

ACTUAL – the odometer reading is, to the best of our knowledge, a true and actual reading for this lot.

EXEMPT – The odometer reading is not legally required for this lot.

NOT ACTUAL – the odometer reading is not an accurate or cannot be obtained for this lot.

EXCEEDS MECHANICAL LIMITS – the true mileage of the lot cannot be determined as the odometer has exceed its capacity to measure it.

Offsite Sale

Offsite Sale vehicles refer to lots that are not physically located at a Copart facility. These lots are sold through the VB3 auction of the nearest Copart facility to the lots actual location. The “preview” and “pickup” locations are listed on the Lot Details page. Please contact the nearest Copart facility to make arrangements to inspect a vehicle. Buyers will be responsible to pick up the lot from the pickup location listed within the regular storage period. Offisite locations are pickup locations only and do not facilitate member payments or documents. All regular fees apply to Offsite vehicle sales.

Region

Region signifies the operating region of the Copart facility.

Registration Fees

Registrations fees apply for Copart’s Basic and Premier Membership. Copart Premier Membership also requires a one-time, fully refundable deposit. Please visit the Copart Membership Guide to view the current registration fees.

If a Copart Member chooses to use a Broker the Broker may have a registration fee/ activation dee and may have other fees that vary by Broker for different time periods. Please ask your chosen broker for a list of their fees and terms and conditions.

Repair Cost

Repair Cost refers to the estimated cost to repair the vehicle, this amount is given to Copart by the seller. This repair cost amount may vary from the actual cost to repair the vehicle. This cost may vary depending on the availability of parts, labor rates, paint costs and more. Copart recommends members inspect and evaluate each vehicle to determine the extent of the damage and necessary repairs prior to bidding. The repair cost listed on the website is provided for informational purposes only, Copart makes no representations as to the validity or accuracy of the listed value.

Sale Date

The Sale Date refers to the date that the designated inventory will run through the auction. Sale dates will vary by location. You may view our Auctions Calendar for a detailed listing of auction dates.

Sale Time

Sale Time is the scheduled start time for an auction. Sale times are local to the facility in which a particular vehicle is stored.

Sales Status

Sales Status refers to the current lot status. The meaning of different school values are as follows:

• Pure Sale – This status means that there is no minimum bid or reserve placed by the seller. The lot will be awarded to the highest bides at the end of the virtual auction.

• On Approval – This status means that the seller has opted to have the ability to approve the final high bid amount that was achieved in the virtual auction. The Seller has until 6:00pm PST of the business day following the auction to approve the bid amount. The highest bidder is held to their bid if the Seller approves their bid within the approval time frame.

• Minimum Bid – This status is given when the Seller has placed a reserve amount on the lot. If the minimum amount is not met during the live auction the Seller has until 6:00pm PST of the business day following the auction to accept the bid.

Special Note

Special Notes are created to indicated important information for the Member to consider prior to bidding.

Starting Bid

The Starting Bid refers to the amount place on a lot by the first bidder. Once this amount is entered it becomes the starting bid on the lot.

Sublot

Sublots are affiliated locations that store vehicles outside of the main Copart location. Sublot location information are listed on the Lot Details Page. These locations are not Copart locations and are pickup locations only, all payments and documents will be processed at Copart locations.

Time Zone

Time Zone refers to the time zone in which the Copart facility is located.

Title Type

Title Type refers to the type of ownership document that will be given to the Member when they purchase a vehicle. Each province has a variety of different types or brands of ownership. Each ownership type carries with it certain restrictions that are determined by the province/ state. Members should make themselves aware of each type of ownership/ brand and should understand the restrictions/ viability of the ownership type against their intended use of that lot prior to bidding on a vehicle. This information can usually be found on the transportation departments section of the provincial government’s website. Not all ownership/ title types are suitable/ available to each member as some will require specific licenses. You may refer to our Licensing page for more information.

This information represents the current ownership document types for this lot. They do not in any way represent or attempt to represent any prior history of the lot. You may check the history of the vehicle, ownership documents etc., of any clean title vehicle though companies such as AutoCheck.

Transaction Fees

Transaction Fees are the processing fees charged by Brokers.

VIN

A VIN is the Vehicle Identification Number assigned by the manufacturer.

Year

Year is the manufacturer's designated model year.