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How to Set Your Buying Power
How to Set Your Buying Power

Determine your buying power and get ready to bid!

Stacy Denver avatar
Written by Stacy Denver
Updated over a week ago

Each member is required to place a security deposit to set their buying power in order to bid on any vehicle. Buying power determines how high and on how many vehicles members can bid. The buying power is determined by the security deposit—the higher your security deposit, the higher your buying power.

The initial security deposit is $400 or 10%, whichever is the greater of the total amount you would like to bid. A $400 deposit enables you to bid up to a total of $4,000 on one vehicle. If you wish to bid more than $4,000 or to make bids on two vehicles simultaneously, then you would need to increase your security deposit according to our buying power calculator.

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Last Updated 6/26/22

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