#451 - Copart Just Bought ACV: Here's What It Means For Your Wholesale Cars

<p>In this episode of the Independent Dealer Podcast, Jeff Watson and Luke Godwin are both in full tax season prep mode — and have a lot to say about it. Luke just walked the auction lanes for the first time since July 2020, bought ten cars in one day, and came back with real observations about condition reports, the professional premium, the buy-it-now revolution, and why simulcast bidding is a fundamentally different game than standing in the lane. Jeff is buying trucks and SUVs while gas prices are high and everyone else is chasing Teslas — and making the Warren Buffett case for why going contrary to the market right now is a conviction play, not a gamble. Plus Copart bought ACV, subprime lenders are stealing BHPH market share on affordability alone, and the guys are both headed to the Buy Here Pay Here Dealer Forum in Austin November 1st through 3rd.<br><strong>What You&#39;ll Learn:</strong><br></p><ul><li>Why Luke went back to the physical auction for the first time in five years — what he did differently this time with condition reports and a pre-built short list — and why he bought ten cars in one day without blinking</li></ul><p><br></p><ul><li>Why the professional premium makes simulcast bidding a losing game for dealers who know what they are looking at — and why buy-it-now and make-an-offer are the strategies that actually produce arbitrage</li></ul><p><br></p><ul><li>Why Copart buying ACV for $2 billion might be the best thing that ever happened to dealers trying to liquidate red-light non-runners — and what that acquisition really means for the wholesale market long term</li></ul><p><br></p><ul><li>Why Jeff is buying trucks and SUVs while gas prices are high and everyone else is scared of them — and how tripling his money on a $200,000 buy during the Katrina gas spike is the exact playbook he is running right now</li></ul><p><br></p><ul><li>Why subprime lenders are taking BHPH market share and it has nothing to do with credit quality — it is entirely about payment affordability and term length — and what the average PTI number from a recent 20 group reveals about where the market actually is</li></ul><p><br></p><ul><li>Why EVs are still going two grand over MMR in the lanes while trucks and diesels are going for a song — and how to think about playing both sides of that market without getting caught holding the wrong inventory when the cycle turns</li></ul><p><br></p><ul><li>What Luke learned moderating a 20 group about the $500 monthly payme