FAQ’s About Payments
1. What kind of payments do you accept for vehicles?
A. We accept bank wire transfers for payments of vehicles. In certain cases if you have a Chemical Bank in your area you will have the option to make a direct deposit using a cashier’s check or money order. Credit cards are not accepted for payment of vehicle.
2. How much are your service fees?
A. Our broker fee is $200, and is charged for every vehicle you win. This fee is a flat fee so the price of the vehicle will not change it. There are special cases where the broker fee will be higher if you reside in certain states and intend to purchase in your home state, so make sure to contact our office prior to purchase if this applies to you. You can find a list of other applicable fees under the “fee calculator” section found towards the top of our website.
3. What is my timeframe for making a payment?
A. You will have 3 business days, including the day of the auction, to make a payment. If the day of the auction lands on a weekend or a holiday your 3 day grace period will start on the next business day. This grace period does not include weekends, so if you win the vehicle on Friday you will have until the following Tuesday to make full payment. For vehicles purchased on a “buy it now” or “make offer” option you will have only 2 business days, including the day of auction, to make payment.
4. What will happen if I do not make payment in time?
A. Copart will charge a one-time $50 late fee on the 4th day, if payment is not received in time (or 3rd day for “buy it now/make offer” purchases). Partial payments will not count and a late fee will still be charged if only a partial payment was made. You can still pay for the vehicle if you are past the 3 day grace period, just make sure to add a $50 late fee.
5. Can I make the payment to Copart instead of paying you?
A. No, the payment will have to be made to us using the bank wire transfer instructions found on the invoice. The broker bidder account you will be using is under Advance Motors name in the Copart system, so the payment has to come from Advance Motors in order to be processed correctly and avoid any issues with the transaction. If a payment is made to Copart directly you will be charged a penalty fee of $150 for such action.
6. What are all the fees you charge for each transaction?
A. The main fees we charge as Advance Motors are the $200 broker fee, $20 title mailing fee and a $15 wire transfer fee. Every transaction will have these fees on the invoice. Other applicable fees can be found under the “fee calculator” section of our website. If you are a Michigan resident there will be a 6% sales tax applied to the invoice as well as a $50 title processing fee, as we are required by the state of Michigan to collect taxes and process the title on your behalf. In some states a different broker fee amount may apply for home state purchases, you can contact our office at any time to obtain more information regarding the home state purchase policies and fees.