Down here at the fun end, the cost structure is different. You're primary costs will be:

  1. Fees
  2. Actual bid amount
  3. Taxes, DMV registration, insurance, etc.
  4. Parts
  5. Delivery

Of the items above, the Actual bid amount is the easiest to estimate. Just pick a number you will not go over. Click each of these links to see more details on how to configure the Copart and IAA interfaces for searching within your budget.

Variable costs can include tools, disposables like oil, depending on what you have in your shop.

Here's an actual breakdown from a sale:

From a 2013 Infiniti G372013 Infiniti G37 purchased in June 2022:

  • Sale Price: $1,350
  • Buyer Fee: $435
  • Virtual Bid Fee: $69
  • Gate Fee: $79
  • Environmental Fee: $10
  • Delivery: $85

Total out the door: $2,018 - about 50% more than the winning bid amount due to fees.

And here's another example from a 2001 Porsche Boxster2001 Porsche Boxster purchased in September 2022:

  • Sale Price: $2,475
  • Fees: $720

Total out the door: $3,195 - about 30% on top of the winning bid in fees. The vehicle was later sold to Copart/cashforcars for $1,300, representing a loss of $1,895 plus repair costs.

The lesser known fees

Membership fees - certain auction houses and brokers require annual membership fees. In addition, they require upgrades to membership, deposits or other fees to increase your 'buying power'. Think of these like gotchas from the credit card companies. As long as you remember to request the refund of your deposit, and factor in membership fees for your budget, you'll be fine.

Documentation fees - having the documents mailed via fedex can add to your cost.

Insurance - you'll need to add the vehicle to your insurance policy.

Title transfer fees - you'll need to pay the DMV to transfer the title.

Inspection and Registration fees - this can easily add hundres of dollars to your overall cost, and that's if it can pass the inspection without a second try.

Delivery and Storage - most of the time the delivery truck driver can put it right in your garage. If not, you'll need a plan for getting it to your house, or pay for storage.

Tools - you may need to buy or rent specialized tools to perform the fixes.

Where Are You In The Process?

What is your combination of cost, availability, and repair requirements?
Can you handle flood damage? Missing panels? Non-starting vehicles?
Decide on acceptable panel gaps, paint imperfections, and fit misalignments

You Are Here:

Step 4: Define Your Budget

Consider fees, delivery, bid amount, parts, taxes, and registration
Set your max bid early and don't monitor the auction
Post sale negotiation, and actually pay for the vehicle.
Can be as soon as next day after auction
Title Transfer, Registration and Inspection.
Complete any legal requirements to get your car on the road
10 Days to make the first keep or sell decision.
Re-market, sell for parts, or scrap.

Find where you are in the car buying journey and click any step above to learn more. Each step includes specific examples and lessons learned from real purchases. See all articles for more information.

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