Glossary of Common Terms Used at Copart

ACV

Actual Cash Value, the estimated retail value of the vehicle as submitted to Copart by the Seller. This is displayed as "Est. Retail Value" on each Lot Details Page. If the lot has been damaged, this is the value prior to the occurrence of the damage. Retail automobile values may be obtained from Kelley Blue Book and other sources on the web. This number is presented for informational purposes only. Copart makes no representations as to the validity or accuracy of the listed value.

Broker

A Broker is a middleman who holds the right credentials to bid & win on your behalf in any state where you don’t have all the licenses and documents required to buy cars at auction. If you are an international buyer, Copart can connect you with a Certified Resellers who works in your region.

Broker Required:

You need to use a Broker to bid on and buy this vehicle because you don’t have one or more credentials required by state law.

Body Style

The manufacturer's designation of the vehicle's configuration, such as coupe, convertible, sedan, truck, etc.

Color

The common color name that reasonably represents the exterior color of the vehicle. Color is not the manufacturer's designated color name, but rather simply a general descriptive term.

Copart GO Vehicles

These vehicles are listed using the Copart GO App, which allows anyone to post a vehicle for sale in minutes. These vehicles include GO Condition Reports filled out by the seller that answer real questions like if the vehicle can drive at highway speeds, if the air conditioning runs cold, and any damage inside or out.

Copart Select

These vehicles represent Copart’s best-quality used cars. Their perfect for inventory and drivers love them, too. These vehicles are sold in a dedicated auction every Mondays at 11 a.m. CT.

Copart Title Mailing

With a valid Power of Attorney on file, Copart can ship your title directly to you through Fed-Ex ($20 per title) or the United States Postal Service ($10 per title). If you buy regularly from the same yards, you can buy title shipments in bulk. You can get up to 10 titles shipped by FedEx for $20, and up to 10 titles shipped by USPS for $10.

Counter Bid

When a vehicle is listed with a Minimum Bid or “On Approval,” the Seller may contact you after the auction to negotiate a final sales price. You can exchange offers and counter offers until you arrive at a price you can both accept.

Members acknowledge and agree that regardless of any counter bids made by the Seller, Members’ high bids on these vehicles shall remain open to acceptance by the Seller until 8 p.m. PST the next business day after the sale.

CrashedToys

These vehicles are located at CrashedToys specific yards. CrashedToys specializes in the sale of salvaged motorcycles, boats, jet skis and other power sport crafts, along with exotics like Ferraris, Lamborghinis, and Alfa Romeos. These vehicles are accompanied with additional photos and notes. Videos may also available on the Lot Details Page. Fee structure differs for these vehicles.

Current Bid

The highest price offered for a vehicle at the present time. The current bid is always listed in the currency of the country where the Copart facility is located.

Current Sale Highlights

Comments entered by the Copart general manager about the listed sale. They include lot information or important notices about a particular auction.

Cylinders

The manufacturer's designation of the number of cylinders in a vehicle's power train.

Damage Codes

Indicate known damage to the lot. Damage codes are listed as Primary Damage and Secondary Damage (2nd). Both damage codes indicate significant information about the lot and any one code should not be interpreted to carry more significance than the other.

AO ALL OVER

BC BIOHAZARDOUS/CHEMICAL

BE BURN - ENGINE

BI BURN - INTERIOR

BN BURN

CC CASH FOR CLUNKERS

DH DAMAGE HISTORY

FD FRAME DAMAGE REPORTED

FR FRONT END

HL HAIL

MC MECHANICAL

MN MINOR DENTS/SCRATCHES

NW NORMAL WEAR

PR PARTIAL/INCOMPLETE REPAIR

RJ REJECTED REPAIR

RO ROLLOVER

RR REAR END

SD SIDE

ST STRIPPED

TP TOP/ROOF

UK UNKNOWN

UN UNDERCARRIAGE

VI MISSING/ALTERED VIN

VN VANDALISM

VP REPLACED VIN

WA WATER/FLOOD

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

Deposit

Deposits are a refundable amount of money you must have to pay in order to be able to bid & win. If you are a Basic Member, you will need to pay 10% of the total amount of bids you want to place. If you are a Premier Member, you need to deposit $400 to bid up to $100,000 a day.

Drive

The manufacturer's designation of the vehicle's power train, such as gasoline, diesel, electric or hybrid.

Engine

The motor specification denoted by the VIN of the vehicle. Members are encouraged to inspect vehicles thoroughly before bidding to verify whether original equipment is present at time of sale.

Estimated Retail Value

The estimated retail value of the lot as submitted to Copart by the Seller. If the lot has been damaged, this is the value prior to the occurrence of the damage. Retail automobile values may be obtained from Kelley Blue Book and other sources on the web. This number is presented for informational purposes only. Copart makes no representations as to the validity or accuracy of the listed value.

Expected Future Date

Vehicles have not yet been assigned to an auction. All title processing required to sell these vehicles has been completed and submitted to the proper titling authority. Copart is waiting for DMV processing to be completed. When DMV processing is completed, these vehicles will be assigned to an actual sale. Any Members bidding on these vehicles will be notified by email when the vehicle is assigned to a sale.

Fuel

Fuel indicates the fuel type used by the engine as designated by the VIN, usually gasoline or diesel.

Grid/Row

This marks the physical location of the vehicle at Copart location.

Image

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

Keys

Whether Copart is in possession of the keys to the vehicle.

Lane & Item Number

A lane is a subset of an auction. Think of these as different sales counters going during the virtual auction.

The number of lanes running in a particular auction depends on the amount of inventory up for sale. Lanes are assigned based on vehicle item numbers, which are located on the lot page under “Sales Information.” These numbers are assigned based on the category/description of the vehicle. See the chart below.

*On average, auctions will have four lanes running. During a live auction, be sure you join the correct lane for the vehicles on which you want to bid.

Item Number	Description	Lane
1-500	Run & Drive Lots	A
501-600	Rental Cars	A
601-700	Motorcycles	A
801-900	Boat/Jet Skis/Marine	A
801-900	Heavy Equipment	A
901-1000	Recreational Vehicles	A
1001-1100	Other Goods	A
1101-2000	Salvage Lots	A
2001-2500	Run & Drive Lots	B
2501-3000	Salvage Lots	B
3001-4000	Salvage Lots	C
4001-5000	Salvage Lots	D
5001-6000	Salvage Lots	E

Remember that all Copart vehicles are sold “as-is, where-is” and are not represented as being in roadworthy condition, mechanically sound or maintained at any guaranteed level of quality.

Live Bid

A bid placed during a virtual auction.

Location

The Copart facility that is processing the sale of the item. View Copart locations.

Lot Number (Lot #)

Copart's unique identifier for each vehicle.

Make

The manufacturer's brand name.

Max-Bid

Copart’s automatic bidding function. This is the amount Copart.com will bid up to so you stay the top bid. Vehicles are often won for less than this amount.

Model

The manufacturer’s designation of the lot.

Monster Bid

A bid of one or more increments over the current bid amount. If a Member knows how much they want to pay for a vehicle, they can advance the current bid to that number using the Monster Bid feature and bypass the standard incremental successive bid amounts.

Odometer Descriptions

The known reliability of the odometer reading. There are four odometer types:

ACTUAL – the reading is believed to be the true and actual mileage of the lot.

EXEMPT – by Federal Law, no odometer code is required to be displayed for this lot.

NOT ACTUAL – the odometer reading does not correctly reflect the mileage of the lot or it cannot be known.

EXCEEDS MECHANICAL LIMITS – the true mileage of the lot cannot be expressed because it has exceeded the capacity of the odometer to measure it. For example, the odometer went past its maximum number and started again at 0.

Offsite Sale

These vehicles are not physically located at a Copart facility but are sold during the regular VB3 sale of the closest Copart facility. The Preview and 'Pickup' location is listed on the Lot Details page. Please review the preview dates and times to arrange to inspect the vehicle. Buyers will be responsible for pickup of the item from the location listed within the normal free storage period. All regular buyer fees apply to the sale of Offsite vehicles.

Pre-Bid

Bid placed on a vehicle before the virtual auction begins. Pre-Bids win if no higher bids are offered in the live auction.

Region

The Copart operating region of the facility.

Broker Registration Fees

Brokers charge a one-time non-refundable registration fee for the activation of a Bidder Account. Registration fees may vary by Broker and may cover different time periods. See specific Broker Terms & Conditions for more information.

Repair Cost

Repair Cost is the estimated cost to repair the vehicle as submitted to Copart by the Seller of the vehicle. The repair cost listed here may vary greatly from the actual cost to repair this vehicle. The availability and use of recycled parts, varying labor rates, paint times and so forth greatly affect the cost to repair any vehicle. Copart recommends that each bidder evaluate the damage to determine the extent of the necessary repairs. This number is presented for informational purposes only. Copart makes no representations as to the validity or accuracy of the listed value.

Reserve Price

The Seller has set a minimum price on a vehicle. If the Reserve Price isn’t met or surpassed during the virtual auction, the Seller has until 10 p.m. CT one (1) business day after the sale to accept or reject the highest bid. If rejected, the Seller has the option to relist the vehicle for sale on Copart.com.

Sale Date

Sale Date is the weekday when designated inventory at a particular facility will go to auction. Sale dates vary by facility. Refer to our Auctions Calendar for a complete listing of sale 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.

Types of Sales

Vehicles can be sold in different ways with different conditions on Copart.com. Below are the definitions of the post common sales statuses. See Copart Terms & Conditions for more details.

Pure Sale: No minimum bid or reserve price. Vehicle is awarded to the highest bidder at the close of bidding during the virtual auction.

On Approval: Seller has reserved the right to approve or reject the final high bid from the virtual auction. The Seller has until 6 p.m. CT one (1) business day after the day of the sale to approve the bid. The high bidder is obligated to purchase the vehicle if the seller accepts the final bid within the approval period.

Minimum Bid: Seller has set a minimum price on a vehicle. If the Reserve Price isn’t met or surpassed during the virtual auction, the Seller has until 6 p.m. CT one (1) business day after the day of the sale to accept or reject the highest bid. If rejected, the Seller has the option to relist the vehicle for sale on Copart.com.

Broker Security Deposit

Brokers require security deposits and must be paid in full before you receive your bidder account. This security deposit protects the Broker if you fail to pay for an awarded vehicle. Failure to pay in full for any awarded vehicle will result in the loss of your security deposit and a revocation of your bidder account. Brokers will refund your deposit if you do not purchase a vehicle.

Special Note

The section on the Lot Details Page is where important information about the lot is displayed for the Member's consideration when bidding.

Starting Bid

The bid entered for a lot by the first bidder. Once entered, it becomes the current bid.

Sublot

The vehicles is stored at a facility close to the affiliated Copart location. Sublot locations are listed within the Vehicle Information section of our Lot Details pages.

Time Zone

Time zone in which the Copart facility is located.

Title Pending

Copart hasn't yet received the Title for this vehicle but is in the process of acquiring it.

Broker Transaction Fees

The fees charged by Brokers for their services.

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. If Copart can’t find any vehicles that match your search criteria, you’ll automatically be taken to the Vehicle Alerts form to set up notifications. You can also set up alerts by selection Vehicle Alerts from the top navigation menu.

VIN

Vehicle Identification Number assigned by the manufacturer.

Watch/Watchlist

When you find a vehicle that interests you, click the Watch button in the second column on its search results listing or at the top right on its vehicle information page. 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 online auction.

WholeCar/BluCar

WholeCar vehicles come from fleet, rental and finance companies, and are usually in better condition than the damaged vehicles we sell for insurance firms. These vehicles will come to Copart after a fleet company updates their vehicles, when a rental company changes their stock, and when someone either doesn’t make their car payments or turns in a lease vehicle.

Year

Year is the manufacturer's designated model year.