[klat]

One way is to bid for the percentage of the value of the car. So the higher % you bid, you have to pay more. And if you buy an expensive car, you have to pay more.

For eg. If you bid for 100%, then when you buy a toyota altis where the cost is $50K, then in total you pay $100K for the car. But if you buy a BMW520 where the cost is $150K, then you have to pay a total of $300K for the BMW. 

So the cut off is the % of the car cost ie you bid in percentage terms. You only pay the coe cost after you have received the car.

In this way, this is a fairer system.

This is a better system than the current one.