How does bidding work?
CuAuctions uses progressive bidding. With progressive bidding, the highest bid amount is public knowledge, and you can increase your bid in response to other bidders. With cuAuctions you can use proxy bidding. That means you can enter the highest amount you're willing to bid. If another bidder enters an amount higher than your current bid, cuAuctions will gradually increase your bid amount up the maximum that you set. We'll also alert you via email when you've been outbid so you can increase your bid amount.
The auction ends at the stated Auction Close time, unless active bids are still coming. The auction will automatically extend in 15-minute increments as long as active bidding is taking place.
The highest bidder at the end of an auction is obliged to purchase the vehicle in accordance to the auction payment terms.
How is this different than eBay or Yahoo Auctions?
Vehicles listed on WyHy's Repo Auctions as well as cuAuctions are owned by local credit unions, federally insured, respected members of your community.
That means you can trust the seller to make full disclosure about the vehicle you buy, and you can be confident that the seller will work with you to make the transaction smooth. And unlike eBayMotors and Yahoo! Autos, you'll never encounter a dealer on cuAuctions. With cuAuctions you can buy without the usual dealership mark-up, and avoid the usual dealership hassles.
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Why do I have to register to bid?
In order to accept a bid, WyHy must acquire certain information to ensure the bidder complies with the payment agreement. Like at other Internet auction sites, you must disclose personal information to ensure serious interest in purchasing the vehicle.
What happens to my personal information?
We are passionate about maintaining bidder privacy. Your personal information is kept strictly confidential using the most stringent security protocols currently available. The only time your information is shared with an outside party is when you place a winning bid and the credit union that owns the vehicle you bid on requests your information to finalize the transaction. We do not trade or sell your name or personal information to other entities. See our Privacy Policy.
Can I see the vehicle before I bid?
No. The vehicles you are bidding on are owned and stored by WyHy Federal Credit Union. They are not available for public inspection.
I'm trying to bid and the site won't let me because I'm not already registered. I did register. What's going on?
Once you've registered it takes a few moments to create your account and update our database with your information. The delay is usually less than five minutes. To complete your registration, simply click the Activate link in the confirmation email you receive; this will open your account. Once you've reached this point, you're ready to bid.
Am I purchasing the vehicle from WyHy or from cuAuctions.com?
The vehicles you are bidding on are owned by WyHy Federal Credit Union. cuAuctions.com is a third-party credit union service used to list the vehicles online. When you purchase a vehicle listed on our website, you are purchasing the vehicle from WyHy Federal Credit Union.
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