Upon delivery to the credit union, an appraisal was done to determine book value and general condition of the vehicle. If deemed necessary to improve marketing of the auto, it will be sent out for cleaning/detailing. Only rarely will actual mechanical work be done to the auto. Vehicles will be bid upon and sold in an “AS-IS” condition. All bids will be sealed by the bidder.

Potential bidders are encouraged to have a mechanic inspect the vehicle, as the credit union is not in a position to warranty the vehicle’s condition. Further, bidders are advised to verify listed options prior to bidding.

A closing date will be set when bids will close. This will normally be noon Friday at least two weeks from the time the vehicle is first available for inspection and bids. If deemed necessary to increase bids, a newspaper ad may be run.

Upon close of bidding, all bids will be opened together. If the bidding process produces a bid that is determined to be acceptable by the credit union, the high bidder will be notified of the acceptance of his or her bid, and a time set to conclude the sale. If no bids are considered satisfactory, based on the value of the vehicle, the Collection Department may start the bidding process over or send the auto to an auction.

Due to the number of bidders on certain autos, the credit union will not contact all bidders that their bid was not accepted, except in the case that no bid is accepted. The bidding and sale process can be interrupted without notice to bidders if the original borrower (1) brings the loan current or otherwise cures the delinquency, or (2) files bankruptcy before the sale is completed. In either case all bidders will be notified that outside events have canceled the sale.