Words, Terms and Phrases Every Copart Germany Buyer Should Know

We at Copart Germany understand that we don’t all use the same lingo when talking about certain things. Therefore, we have compiled a helpful list of our own unique wording and terms found on this website that might be new to some buyers. Understanding these essential phrases is the first step to successful browsing, bidding, and becoming a more confident and effective Copart Germany Member. Knowing these terms will help you to identify and understand important information about the vehicle you are interested in buying, such as engine type, damage, and even whether the keys come with the vehicle. 

When you see: “BID4U” 

BID4U represents the highest bidder during both the preliminary bidding process and the virtual auction. Simply enter the maximum price you are willing to pay for the lot during preliminary bidding and BID4U will bid on your behalf up to your maximum bid during the virtual auction. 

(A helpful hint for sports fans: It’s like a fantasy sports draft, when you use auto-pick to select a player while drafting). 

When we say the phrase “RUN and DRIVE”, we mean: 

At the time the vehicle arrived at Copart’s location, Copart verified that the vehicle (i) started, (ii) could be put into gear, and (iii) could move forward under its own power.  

Please note that there is no guarantee, representation, or warranty that the vehicle is in roadworthy condition or can be driven lawfully. It is up to the bidder to inspect the vehicle prior to bidding on it. Once the vehicle is removed from Copart’s premises, the Member accepts the vehicle “as is “. 

What is the “Engine Start Program”? 

At the time the vehicle arrived at Copart’s facility, Copart verified that the vehicle (i) started, and (ii) ran at idle. There is no guarantee or warranty that the vehicle will start or run at idle again at the time the vehicle is picked up at Copart’s facility. As we stated earlier, it’s is the bidder’s responsibility to fully assess what they are bidding on before they commit to placing a bid.  

Understanding the different “sales status” terms: 

Sales Status   
Sales Status indicates the current status of the lot. These might include: 

• No Reserve – No minimum bid or reserve price. Lot will be awarded to the highest bidder. 
• On Reserve – Seller has reserved the right to approve the final high bid achieved during the Virtual Auction. The seller has five working days (after the end of the bidding process) to confirm the sale. If the bid is accepted by the seller within the set period, the highest bidder is obliged to purchase the vehicle.
• Minimum Bid – The seller has set a minimum price for the vehicle. If this reserve price is not exceeded during the live auction, the seller has five working days after the auction ends to accept the bid.
   

What are “Damage Codes”?  

Damage Codes are used to indicate known damage to the vehicle.   

These codes indicate known or reported damage only and are limited by their 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.   

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New to Copart? Learn more about how to bid and buy vehicles with Copart here.