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by Tim Beissmann

A US man has purchased a brand new Chevrolet Camaro for just $5.28 over the internet.

Jonathan Mason from Frankenmuth, Michigan, found the yellow Chevrolet Camaro SS on Fast Penny Cars in what was his first experience with a penny auctions website.

These websites work much like real life auctions, although with some differences.

Every bid you make, regardless of whether you win the auction or not, costs you a certain amount of money. In most cases it’s around 60-80 cents.

Each bid you make increases the price of the product by one cent. If you win the auction, you pay for the final price on top of the bids you have already placed.

In the case of Mr Mason, he paid $5.28 for his Camaro plus $40 in bids. The total price of $45.28 represented a $35,209.72 saving on the brand new Bumblebee, which has just 123 miles (198km) on the clock.

According to CNN, Mr Mason and his wife could not believe their eyes.

“I said wake the baby up we just won this car. She made me show her on the internet that it was my screen name that won,” he said.

Fast Penny Cars founder, Kent Kern, admitted the website had lost thousands of dollars on what was its first ever vehicle auction, but said the publicity alone would more than cover the losses.

“We wanted to do something different, and there are no other websites selling new cars,” Mr Kern said.

“It has helped, when the Mustang goes up for sale on the 16th we are hoping it goes for more than the last one.”




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