FastPennyCars.com Now Sets Reserve and Limits Bidders

fastpennycars penny auction new carsThe penny auction site offering new cars, FastPennyCars.com  has made changes to their next new car auction.

FastPennyCars’ next car auction, a winner’s choice auction for either a 2012 GM Chevy Malibu, Ford Fusion or Chrylser 200, requires that bidders purchase a $200 bid pack of 100 bids ($2 per bid) and 170 bid packs must be purchased before the auction even starts. Meaning FastPennyCars hopes to obtain about $34,000 before the auction is even scheduled to begin.

That’s not all, FastPennyCars is limiting how many bids can be placed by bidders to 500 bids per person and if you plan to bid on the auction you need to both hope you will be available to bid on the auction and make sure you have purchased the number of bids you want before the auction begins as they are also only selling bid packs for the auction up until the auction starts.

So, all bidders can try to win the car with approximately $2k in bids and no more.

In the past, FastPennyCars bidders have experienced problems. For instance, multiple bidders have reported receiving auction won notices only to later find out that they did not win and the auction restarted.

What do you think about this new change on FastPennyCars.com? Have you bid there?

 Discuss your experiences in our penny auction forum and learn more about pay-per bid penny auctions!

 

 

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2 comments… add one
  • Ken Merritt December 23, 2011, 12:09 pm

    I received an email from fastpenny cars that they have ceased business/operations on 12/21. The collected thousands in car bids, I wonder if they will refund anyone? What do you think?

    Reply

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