Buying Salvage Boats Without a Dealer’s License
Start the Shopping Process
To get a chance to walk away with the boat you like, you need to first create an account with us. Open our registration page and choose one of our subscription options: free basic, monthly and yearly subscriptions.
You can start with our free basic account and see what we have to offer before you pay for a plan. Through the free basic, you can search for and bid on as many boats as you need.
How to Buy a Boat on Salvage Boats Auction
It is easy to search for and buy a boat that will serve you for many years. The steps to buy a salvage boat are as follows:
Registration on Salvage Boats Auction
We give you access to the largest collection of salvage boats for sale in the world. All you have to do to get access is create an online account with us. Open our registration page and choose one of the following subscription options:
Free Basic Account
Monthly Subscription
Yearly Subscription
With the Free Basic Account, you will have the same access as other members on paid subscription. Granted, you can search and bid on boats. If you have paid the security deposit, you can even purchase a boat. Once the thirty days are over, you will have to subscribe to the monthly or yearly membership.
The monthly plan will cost you $34.95 every month, while the yearly subscription is $189.95. With the latter, you will save $90 every year. Besides the membership fee, you need to pay a security deposit fee of $600.00 or 10 percent of the boat’s sale price (whichever is higher). This security deposit fee is 100% refundable.
Boat Search
With so many boats available through Salvage Boats Auction, you need to be careful which boat you get. You have hundreds of choices every day with more coming in the days that follow.
Our Quick Search bar allows you to enter the name of a boat or lot number you are searching for and the results appear fast. You can, however, use our advanced search feature, which allows you to search for the boat based on make, model, year, state, location, and primary damage.
We also offer the Quick Picks and Compare features that show you a list of boats based on a customized search using a lot number or any other feature. Click on the boat’s name to access more details. The boat page will show images, specifications, title type, and so many other details. You can also see the Copart facility in which the boat is held to help you with the inspections.
Boat Inspection
While the boat page shows you images, history, and specifications among others, you still need to inspect the boat to ensure it is in good condition. Inspecting the boat in person means visiting the facility with or without a professional inspector to assess the boat. You may pay a visitors’ fee in some facilities while others allow you to inspect the boats for free.
At Salvage Boats Auction, we give you access to Copart’s auctions and then leave the bidding and purchase to you. If you want to set the right bid price, you will need to see the boat and inspect all its parts, from the exterior to the internal parts of the engine.
While at it, check the extent of the damages on the boat and the estimated cost of repairing these damages. This is where you need a professional inspector to help you. If some of the boats you come across do not meet your needs, you can always go for the next available boat.
Note that you are responsible for the repairs as the boat comes ‘as is’ and also for transportation because Copart sells the boat “where is.” It is, therefore, important that you inspect the boat as thoroughly as you can to ensure it is in good condition.
Bidding on the Boat
An account with Salvage Boats Auction gives you access to the boats and also unrestricted bids on the boat. Once you create an account, you can bid on as many boats as you can at any time. You will need to pay the security deposit to receive the login details for the online auction and the bidder’s number.
Log in using your login details to enter an online auction and bid for a boat that meets your needs. It is advisable that you place the maximum bid to increase your chances of winning the boat you need.
Once you place the maximum bid, you can set the Bid4U feature, which can automatically bid for you until another buyer outbids you. If another buyer’s bid is higher, you will get an email that someone else has outbid you, and you will need to rebid.
Some states, such as California and Kansas do not allow residents to bid on salvage boats. Our services are not available in these states, but we are available in all the other states. It is important that you check with the laws of your state to ensure that it is legal for you to bid on salvage boats. In Michigan, for example, you can only bid on clean-title boats. Salvage boats or “for parts only” are also not allowed. Your state's Department of Motor Vehicles should be able to tell you all you need to know to own a salvage boat. You should do this before you enter an auction.
If you win at an online auction, you will only have a few steps left to finalize the shopping process, and you are good to go. The seller can either approve, reject or counter your offer. If they approve, make the payments and collect your boat. If they counter, you have the options of accepting the seller’s offer, raising your bid, or keeping the current offer. You can see the status of the boat on Open Items >> Bid Status.
If the seller accepts your bid, you will get an email notifying you that you have been awarded the boat.
Payment and Collection
The vehicle purchase price will be your approved bid price or the agreed seller’s counter price. You will pay this amount to Inloher Corp through a direct bank deposit, bank wire transfer or cashier’s check. You agree not to pay any amount to the seller or Copart as doing so attracts a $200 penalty. Besides the boat's sale price, you need to pay other fees such as the broker fee and Copart fees to process the boat.
Once you make the payment, email us with the details, and we will process the boat for you to collect. If you pay through an account that is not yours, email us the details of the account you used and we will start processing the boat for collection.
You will have only two days after the auction to make payment. Failure to pay within two days attracts a charge of $50. Requesting to cancel a purchase for any reason OR failing to pay for the vehicle within seven calendar days (this includes the day of the sale), will forfeit the purchase of your vehicle. After that, the vehicle will be re-listed and other people will be able to bid on it. Canceling a sale will attract a $600.00 cancellation fee or 10 percent of the sale value of the boat (whichever is higher). You will also pay a relisting fee. Boats relisted back on the queue are available for other buyers.
If you pick a Buy It Now option, you will need to make payment within the day of the purchase. Failing to pay on the same day attracts a fine of $50.
In order to remove the boat from the yard, we must have received your payment in full, along with the documents signed electronically by you. If you are a Florida resident, you will be provided a Power of Attorney, which you will need to have the original document signed and notarized mailed to us. Once the process is complete, you will receive a Boat Release Authorization, with which you can collect the boat from the yard. Using the Authorization, you can send a transportation company to pick the boat for you. Note that you are not allowed to pick your boat from the Copart facility if you do not have a town license. In order to pick up, Copart requires bidders to schedule an appointment with Copart to arrange the date and time of the vehicle pickup. This must be done by downloading the Copart mobile app and follow the steps to do so.
After finalizing the payment process, you have up to three days to collect your boat. If you still do not collect the boat after the third day, Copart will charge you $5 from the fourth day onwards. For kiosk bids and Buy It Now options, the charges for not collecting the boat after three days are higher. After you receive your boat, you will have to wait for at least 30 days to get the boat title.
