Procedures for the purchase of a previously owned vehicle.

American Southwest Credit Union requires a minimum of three reasonable individual bids from three different submitters. Those individuals who have been out-bid may bid as many times as they wish until one highest bidder remains. Bids are open so that anyone may inquire as to where the highest bid is during the bidding period.

The Credit Union may extend or close the bidding period without notice, but will extend to all interested bidders the courtesy of one last opportunity to bid prior to close. The President/CEO will only give final approval to the highest bidder. The Credit Union staff will contact the approved bidder.

If the bids are too low, the Credit Union reserves the right to eliminate all bids and start over. Credit Union financing is available to qualified borrowers; however, American Southwest Credit Union membership is required. Cash or cash-equivalent instruments, i.e., cashiers check or money order will also be accepted, but not personal checks.

All vehicles are purchased in "AS IS" condition; American Southwest Credit Union extends no warranties. Each prospective buyer is encouraged to have the vehicle thoroughly inspected, at his or her expense, prior to purchase.