How to Buy Bank Repos at Copart without a dealers license
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- Опубликовано: 12 май 2024
- How to Buy Bank Repos at Copart without a dealers license
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I tried the Copart route before. Wasted about $200 on a year subscription. Once I calculated in the amount I was going to pay for transportation for the vehicle, to pay the guy to bid (cause most auctions require a broker) and CoPart's other fees on top of it, it was the same cost as it would be to just get it from a used dealer.
Try RunBuggy
@@LuckyLopez777what's run buggy 🤔
You must be bad at it then. I did it for about 5 years (I was limited to buy 3 per yr since I wasn’t a business) and I did very well. Patience is key and knowing what cars are good (costs, repairs). If you know how to buy. You should be spending about 30-50% of the cars clean title value after it’s repaired.
@@Mr420_Bookbagg
Get off the bong and get on Google.
Provide your own transportation.. don’t use theirs.
Repo cars: People don't have the car payment, they will most certainly skimp on the oil changes.
Trade ins: Lemons that people take to the dealer and trade to get out of the recurring repair bills.
Charity: real old car from the old lady or old man who passed away.
No Key: Run away. Banks and Title loan companies do make keys for the car, it adds value. Saw the mobile locksmith at IAAI Friday making keys. If it doesn't have a key they are hiding something.
Best cars in my opinion are rear crashes. Nice cars that were at the wrong place at the wrong time. Great engine, Trans and interior.
I find rear damage vehicles to be the best too, but they are a pain to sell because they are often totaled out by insurance 😔
sounds like you should have your own channel as you know more than bucky does.
This is soo true, I bought a repo from copart. Didn’t have a R or E or S. I didn’t notice till I already won the bid because I usually filter for run and drive cars only. Ended up finding out the car was not starting and the engine was locked cause last owner ran it with no oil.
So….you are an optimist then
Copart:
All cars need some work, if you are expecting the keys then drive off then you should not be buying from copart.
Always look at carfax/ Autocheck.
Repo: Look at carfax/Car check and see when last maintenance was. Also, likely missing its keys when car was picked up and may have some small front/rear damage.
Trade ins: Not always bad, maybe person didn't like the Hellcat and wanted a BMW.
Charity: Depends on asking price. Many people give away decent cars.
No Keys: Doesn't mean anything, maybe car was repo'd or keys were lost/ But, you will need the keys to start it and the title/registration if you need a new key fob from the dealer/locksmith.
Copart is not a dealer in a sense that they will sell you a perfect car.
Lucky needs to buy one, break down the fees, go around the vehicle inside and out, fix it up to sellable condition, break down the parts & labor, sell the vehicle, break down the total time / profit.
This is how it should be done. Not just "this is how you do it" but instead "I'm gonna do it so you can see how easy it is"
First problem is looking at repo cars. I worked at a bank in the credit department some years ago, and part of my job was repossessing cars. I can remember one, just one, that was a voluntary repo and not completely trashed. A cheap repo is the most expensive used car you will buy, no matter how you get it.
Copart had like 100 Fees! They even charge you for “take a 💩 Fee” 🤨
That’s extra 💰💰💰
The fees are listed on their site.
Before buying make sure you check them out. Got a 2012 BMW 328i for 2,900.
Total cost to drive it off lot was 4,100. Over 1,100 in fees and tax. But car was worth 10,000.
😂😂😂💩No poop 💩 😂
I bought a 05 mustang for $900 @ COPART .. 4 YRS AGO...CAR BEEN GOOD .. IM STILL DRIVING IT TODAY
Tell Copart to get rid of their junk fees. Gate fee, internet fee, fee for anything they can think of.
They are different on the copart select
@@LuckyLopez777same garbage fees
They prob have a Take a 💩 fee too
we get it copart feed him dinner today😊
When does the discount expire on Copart select?
Took your advice and went to a Catholic charity auction. Couldn't find a Ferrari or a Lambo at all. 🙂
Maybe next time 😁👍
Wow learning about public notice for impound was a wake up for me 😅
Great educational video. Dealers will do the tag/title work when buying from them. Perhaps in future videos you can touch on what buyers using Copart should be aware of with regards to titling, tags, and registration stuff
Consistently excellent content!
Great info. Catholic charities is a hidden gem. And those pawn shops
Facts!!! $$$$
If you’re not there to inspect the vehicle that gem may be a pebble.
Thank you for the helpful knowledge!
Great content, thank you for the info
Thanks for the update.
Good video lucky 👍🏻
Lucky, thank you so much. I really learned a lot in these 15 min.
Thanks for watching
Thanks for sharing your knowledge Mr Lucky 👍
✌️❤️🙏
Great info should I be in the market in the future.
Hi Lucky, 🙋🏻♂️I watch all your content on RUclips. I love your vidoes on current used car market and that’s at a national level. I’d to see you make content on guys like me can learn how the current market (St. Louis) is doing. I own an independent Dealership with a service dept. In my service dept I have 2 techs 1 advisor. I’m the only employee for my sales dept. I’d love to know how to learn what to buy and what to stay away from in my market. Please make a video on we can do that. Keep Up Content!
The box of doughnuts was always my go too trick for whatever company i represented until i started my own company , i drove otr semi , i used them tricks at recievers and shippers used company hats and t shirts too , imagine my fleet managers surprise when he went to represent our company at a ford plant and half the employess are wearing our shirts and hats , i gotta atta boy for that one ,also when i drove a tow truck for someone else , i promoted whoever i worked for , to help them make more , hoping it would trickle down , or at least keep them going ..you don't find employees like that , they find you ..
Hey luckylopez ! Great video man thanks for tips n knowledge . Question do u recommend the basic acc for 99$ or premium for 200$ plus 400$deposit for beginners
I saw a bit of video in your ad.
Great video! I would love to get into this business. Do you have any videos on how to get started?
Good video, very informative. Can you do a follow up on how the purchasing works online and cover how to get the vehicle (e.g. do I need to trailer it home or is there a delivery service). Thanks!
🎉🎉🎉 You’re such an honest man and I congratulate you for this. Thank you so much for sharing your knowledge and helping us out without gaining anything… When this crazy world 🌎 gets back into shape I know that you will crush it.
I still have my 2014 Toyota Camry with only 37,K miles on it. Everything is in basic good shape. I know that the value has gone up on this car in the last year. Would you mind if I contacted you to get just a little advice from you? You know that I watch all of your videos ever since the ninja did a video with you.
Have an awesome week my friend.
Blessings,Carlos ✝️🙏❤️😊🇺🇸
Thanks 🙏
You must work for this guy. 😂😂😂
@@XX-166 Thank you for your reply but actually I’ve never met or spoken with Lucy. But I know real people from the bad ones. I do hope to meet Lucky someday. Blessings,Carlos ✝️🙏❤️😊🇺🇸
@@SirCarlosMusicBMI who the hell is Lucy??? Try to keep your train on it’s tracks
@@XX-166 thank you for your reply. I obviously misspelled Lucky.
When the condition report says 3.2 you can be assured it's a 2.
It’s a solid 1.8 lol
You sure it isn’t 0.8?😂😂🤣🤣
Excellent thank you, extremely informative. I would love to work with you!
@Luckylopez777 love your videos. 1 thing I didn’t catch, after we hit “Select” go down and hit “no license required “ to see cars a non dealer can bid on. Been tracking Copart for a few months and getting ready to get my feet wet. Quick question, if I buy a car from Copart in AZ can I register/sell it in CA?
The other thing with Copart is they toss around these cars like bean bags and just don't care about the buyers whatsoever. Bought a 20' Odyssey recently and the forklift guy had obliterated the bottom of it. Dealer I know later told me stories - car came in with engine disassembled, another the mileage was 300k but showed 50k on the auction.
Lucky, I don't know much about the auto business, but your teaching us!!
Thanks 🙏
Facts
To be mentioned, most of this "select" cars you are not eligible to bid on, because there is a need of license. So that means it's not open to the public, and I am talking about 95% of available cars.
Amazing breakdown. Where can I get some classes?
I did the auction thang. Fun times.
Had a sub prime finance company for a few years. Courts said that the repos have to run thru the auction and try for the highest price then could get a judgment for balance due on loan. Terrible business, but can be lucrative. Repo fees are crazy. My repo guy made tons of money.
Cool video! What are the average, % margins on the top three, used makes (e.g. Nissan, Toyota, etc.)?
Those 2016 through 2020 GM trucks have big problems with the lifters around 80K to 100K miles. The Variable Valve Timing gimmick falls apart & it's a major hassle to have them fixed.
Thanks for sharing
It’s the cylinder shutdown that’s a huge issue on them. Delete that and you have a great LS again
@@BC_CARS Indeed.
@@BC_CARS The problem is you need to pull the heads and reprogram the ECM to get there. A labor intensive endeavor.
@@MARYLIKESREVVING I thought I remembered hearing about an in-line plugin component that helped bypass this need to pull the heads.
I found that "System too lean Bank" codes can sometimes just be the air filter not installed correctly. I had that code pop up as soon as my air filter was checked at an oil change, and when I opened to replace, the filter was just rolling around in the box.
New subscriber
Here in NC I see the PPL advertised for around 8k
Just wanna add not all tow yards do auction stuff if we get stuck with cars in the tow lot they normally get wrote off by PD saying we are able dispose of that car or whatever meaning it's going to the scrap yard. Js
Lucky I had a question bro for a new vehicle you think paying an extra $20 on gap insurance is worth it or no? I’d like a video about this issue I was debating not getting it cause the vehicle is new but took the Gap insurance… I’m sorta stuck tho. Please help brother and also can you talk about branded title vehicles also?
Good info
Do you think buying an exotic and registering it in NV and paying tax/reg here is insane compared to llc in Montana
Figure out your shipping before buying from Copart. They charge stupidly high rates for storage.
Use runbuggy
What about motorcycles? Can you recommend something?
My son in Philly needs a car for less than $5000. Something reliable to get to and from work. It’s tough out there!
Might want to get a motorcycle at that price point
@@JonathanHerz please stop making useless comments and go to sleep.
Lucky told us up front this video was sponsered by Co Part.
Then he told us he didn't buy many cars from auctions. And he told us how he buys.
Then he spent 10 minutes explaining Co Parts buying system.
Not all of us have the “Donut” network. Some of us actually go to these auctions.
Typical sleazy used car salesman 😂 these RUclips car gurus swear they different
I don’t. Buy a lot from auctions. But everyone wants to buy repos so here you go. Here is a program for regular people.
@@JJ-mh3hb thanks for the positive feedback
@@JJ-mh3hbthere’s why they call them scumbag stealerships
COPART is a scam mostly and not for beginners. You will most likely overpay and get a car full of issues. Very few good cars there. Beware.
Thanks for telling me 😢
That's true, for new buyer or second car buyer all this thing is a hassle. Car market is about to crash. Better have cash on hand and buy to owner directly.
Facts!! first. $$$
Wooooooo
Like others have said. They get your 200 then tell you all the other ways they bleed any savings you thought you were getting out of you. Took my money and I found out it wasn't worth it.
I searched for Catholic charities auctions locally here in Minnesota online and could find nothing so decided to do the old time thing and call on the phone, she was mystified and said she'd worked there for 25 years and had never heard of an auction, she transferred me to somebody at the donation location and they have yet to call me back, what's promising for you in Las Vegas is non-existent here in Minnesota so it seems.
Other commenters mentioned they'd done well at Catholic charities auctions 🤔
COPART is NOT for beginners!!!.. The F....Fees eat ALL the savings. I bought a car for $1k ,the fees are close to $1k . Total payment was $1900.
You cannot buy a repo vehicle from a bank they would rather throw them to auctions checked with USAA they have quit selling to their members along with my CU
I buy from banks. You just have to build a relationship with them
100 dollar registration to get start with it should of been said with copart, but still good info
If you don't have a $100 you shouldn't be shopping for cars.
Copart sells tons of reseller jams with extensive damage , i bout a boat from theme they refuse to load it on my trailer 😢that what kind of service do they provid
Hey lucky can you help me to a jeep renegade trailhawk 2016 to 2020 on line.
My price 4 to 6k everything inclusive.
Pls let me know if can assist me .
Thank you very much
Well a lot of people know know to buy cars from Vegas pawn shops and title loan shops.
I buy in other states too
Done 👍❤
How do you re-sell the car if the Title is not in your name?
Thoroughly enjoy people whining about the fees…when dealers pay similar fees when they purchase vehicles…then they complain about doc and dealer fees when they try to buy retail 😂😂😂 there’s no pleasing yall. Then people complain when the CRs don’t say everything about the car 😂😂😂 folks us dealers deal with the same things! Bought a green light car with a blown motor and took a bath….like welcome to auto auctions 😆 The fact y’all are getting similar access to bank repos like dealers do is a blessing. Bring your scanners, do your homework, and own up to when you miss something because guess what…all dealers make mistakes in the lanes too.
How do you find tow yards nearby? I search online and it only shows me tow truck companies.
🤔🤔🤔🤔🤔
I typed in tow y and it auto filled tow yard auctions near me using Google maps with my location on🤔🤔🤔🤔🤔🤔🤔
I thought 💭 you said never buy on line check vehicle out in person double talk
Bro talked about everything but the most important thing. ALL THE FEES!!!
To many international buyers who overpay. They allow RUSSIA 🇷🇺 to bid which is a sanctioned country. If you like dumpster diving for cars then it’s for you. Lots of shady cars. Shady auction.
Yep, way too many.
They will pay more for salvage. But repos see to be going on price
I am glad you showed this a lot of people on sites like this charge for this info I used
To flip cats on the side but where I live you can only sell so many a year if your not a dealer I wanted to get my dealers license but it is a lot of hoops to jump through where I live
Sharing is caring
@@LuckyLopez777 sharing is caring ok got it
You can actually google all this info
That’s so mean leave the poor cats alone 🐈 🥳🤪🤣🤣🤣
Flipping cats as a career, that's a new one
I've seen trained cats and they could jump through flaming hoops down at key West at sunset time but never flipping
How can you be sure facebook is a safe transaction.
5-10 cars/month in Vegas? Damn, that's a lot of people walking home.
Copart needs a lot more than just Lucky pitching them - they're a disaster (but their cars seem legit)
No Garentee and a salvage title! And don't even THINK of returning it. Cash too the day you buy it. That's my warning to you!!
If the girl comes with it then it will really be overpriced by the time she gets done with your credit cards
$$$$ lol
I don't think she'd do that...because that would be dishonest.
Yeah she was the one that came up with the price 😂
I've bought run and drive sprinter van from copart to find out after being delivery that car is totally dead. Had to throw another 10k in it to make it run once again. NEVER will buy from these crooks again!!!
I've seen YOU make multiple vehicles calling auction sites out for spoofing their ratings on vehicles. What happened to that position?
They get paid the $$$, Flying Wheels got a sponsor for Copart also. I’m in California and wonder if I got to go through some 3rd party. Or an Individual can do it. So far a lot of people are saying it’s not worth it, I’m not sure
Commercial
iI SOLD MY HARLEY 210 ULTRA CLASSIC ELECTRO GLIDE TO PRO SPORTS/ CO PART FOR 2K. I PURCHASED IT IN 2011 WITH 5 K ON IT SALVAGE TITLE ROAD IT CROSS COUNTRY TWICE AND HAD 62-65 K ON IT. I ROAD IT IN THE TRUMP INAUGURATION RIDE SO I WANTED TO KEEP IT. HAD TO SELL IT AS I NEEDED THE CASH AND MARKET FOR RESALE IS TERRIBLE. CAN I BUY THIS BACK AND WHAT SHOULD I OFFER. IT COST 750 TO PICK IT UP. RON NEW JERSEY GLASSBORO COPART .
Public auctions? I had no idea 😮
don't waste your time nothing but Junk
Sometimes there are deals
My city auctions off cars impounded due to parking tickets. Sometimes they rack up more than the vehicles are even worth and you'll get a great deal if it's raining or snowing that day.
Nissan Muranos are plagued by totally unreliable CVT transmissions.
CVTs are shite
That Lamborghini was probably a ppp bought car!
Sponsored 🤦🏿♂️ F Copart! They sold a friend of mine a car with no engine! Even though the photos said otherwise
why isn't your friend suing them?
@@GreenCanvasInteriorscape it will cost more in legal fees than what you lost.
Copart fees are excessive & the sales policies make it not worth the effort
Best to buy from an owner than using copart saves you headache
Compart cars are full of mechanical problems 😢
Every used car has problems. That’s why we inspect every car
Copart was good, "pre-covid"; they now become gritty by nickel and diming with all these unnecessary fees. You will have just as good of luck foing to a public auction that private dealers manipulate.
A repo car would be the least desirable in my opinion. Somebody hiding from the finance company isn’t taking care of it and doing maintenance.
If you're looking for well maintained vehicles then do not buy repos. If they don't have money to make payments on the car, they also don't have any money to do any maintenance
A lot of people here in the comments wouldn’t even know where the dipstick is in a car let alone using some grey matter to do some research
Fees to high
Crazy how 8 months ago he made a video to stay away from copart and iaai lol
If you dont know what your buying. but this is about repoed cars not wrecked cars lol
👀👀👀👀
$$$$
Just to let you know the law as writen i you cant repo. It illegal. But we all so ignorant of the law you dont even know that.
Copart purposely misleads buyers on the condition of the car and plenty of people been taking advantage
That’s why you do your research. There’s a lot of people on Copart that Mickey Mouse cars and run them back through copart . It’s a well-known thing always google the Vin number of whatever car you’re looking at and you could see it.
Convertible murano😂
I want one so bad even though they are trash
Donuts always work in any industry.
why didnt you say it costs money to use copart. No wonder you are doing a video for them.
Copart SUCKS! Horrible customer service, doctored up cars, inaccurate mechanical descriptions and exorbitant fees. Can still make money there but YUUUUUUUUCK!!!
Fun times lol
All the damaged goods go to Copart
Copart is hit or miss lol
Repo no no
Is it made in America?
If the answer is no, then don't buy it.
Parts and labor to repair your vehicle are going to be far more expensive for any vehicle outside of the United States.
Find me a used SUV with under 20,000 miles for $ 2,000. Get back to me.
Who would want to buy a repo? They are notoriously neglected by their "owners" and just in bad shape in general.
Copart is a rip off