Budget question Copart

I have a budget question about purchasing challenge car from Copart. I know there is an exemption in the rules for "Vehicle Title, Tax, and Registration fees" & "Costs to pick up your car(s) from the seller." If I win a car on Copart what costs count toward the $2000 budget? My thoughts are list next to each item.

List of costs on the Copart Reciept

1. Sale Price            $XXX - Counts, the price on the state bill of sale that the state will tax
2. Buyer Fee            $XXX - Exempt, not on the state bill of sale
3. Internet bid fee  $XXX - Exempt
4. Gate Fee             $XXX - Exempt, loading the vehicle onto trailer
5. Sales Tax             $XXX - Exempt, a tax
6. Storage               $XXX - Exempt, holding of the vehicle 

Thanks,

Matthew

I was hoping someone would answer because honestly I don't know. I've bid on cars at auctions (if not copart) and my thoughts are below. 

1. Sale Price            $XXX - Counts yes
2. Buyer Fee            $XXX - Exempt maybe not. When I bid the 10% buyers fee is something I consider as part of the price. 
3. Internet bid fee  $XXX - Exempt see above
4. Gate Fee             $XXX - Exempt I agree as part of picking up vehicle
5. Sales Tax             $XXX - Exempt yep no problem
6. Storage               $XXX - Exempt questionable but I'd agree on that I don't prorate my mortgage to account for the the space my Challenge cars take up.

So I think it's debatable on buyers fee and internet bid fee. 

Hmm, I'm pretty sure when I bought a car from IAAI they included all the fees in the total purchase price listed on the title and such. Do you know if Copart separates out the fees?

Yes, only the sale price of the vehicle is on the title/bill of sale. The other fees are on a separate Copart receipt.

The rules cover this, do they not?  

In PA I have to pay tax on the total amount charged by copart. I’d say all fees would be part of the budget as it is part of the reason it only costs “$1000.” My $1000 bid turned into a $1453 truck. Copart bill of sale for example. Only exclusions in the budget are for shipping, tax, tags, registration, insurance. 

In previous years the rules specifically addressed this as auction fees are included in budget because those are in reality part of the price of the vehicle. 

Patrick said:

In previous years the rules specifically addressed this as auction fees are included in budget because those are in reality part of the price of the vehicle. 

I agree. You cannot get the vehicle from copart without paying those fees. The "exempt" fees are the ones that are truly optional (shipping a car from another city to your house, and paying the state for license plates).

Yes, auction fees are included in the vehicle purchase price. I'll clarify in the rules FAQ.

Make sure to use a secured payment method at copart. Using a credit card would have cost me $60. 

At IAA, my recent invoice reads:

$400 Bid amount

$160 Buyers fee

$59 Service fee (loading)

$29 Internet bid fee (could be avoided if I had gone to the auction in person)

$648 total

My Ohio title shows a purchase price of $648 from IAA and for Ohio Sales tax purposes I am taxed on the entire $648.

Yes, sales tax is GRM budget exempt.  

Awesome, thank you all for clarification.

-Matthew