Copart launches new vehicle grading system to boost buyer confidence
Leading online vehicle remarketing business Copart UK has launched its own stringent grading system to give buyers a clear and definable indication of a vehicle’s condition.
The move is designed to boost transparency of vehicle condition and to help Copart - whose customers include motor traders, fleets, rental car firms, finance companies and the insurance industry - to provide even more comprehensive vehicle information for its buyers. The new process involves a rigorous 50-point inspection by Copart’s AQP qualified engineers. They then apply a grade that reflects the condition of the external bodywork of the vehicle, ranging from Grade 1 for minor ‘wear and tear’ repairs, to Grade 5 where more substantial structural repairs are required.
Copart’s UK’s automotive sales director, Michael Stewart, said they had introduced the new grading to add value to the wide range of vehicles sold via their online auctions.
“This simple and transparent grading gives our buyers a clear, definable indication of the condition of the vehicle, so that they can buy with trust and confidence and we can achieve higher sales returns for our sellers,” he said.
“It also enables us to show the condition of these vehicles in-line with the wider used vehicle industry.” The new grading will only be applied to vehicles that are classified as “run and drive” – i.e. those where Copart has verified that the vehicle started, could be put into gear and was capable of moving forward under its own power – as well as having no previous damage category.
Copart’s grading system is based on the same principals and rating structure as the other leading industry standards for physical motor auctions but is tailored to fit their 100% online auctions.
The new system is designed to strengthen and complement Copart’s existing range of end-to-end engineering services, which includes physical on-site vehicle assessment, reports by ATA/VDA-qualified engineer using industry-recognised accident damaged estimating systems, valuation guides and the latest manufacture repair technology.
Copart’s strategy and automotive division director, Mark Godfrey, said: “The introduction of Vehicle Grading is part of our overall strategy to continually improve the information we provide on vehicles. This is just one of a comprehensive suite of changes that we are implementing to give our buyers complete transparency and provenance on the purchases they make in our online auctions.”