What should I bid on a repossessed 2004 Cadillac CTS with 72,000 miles?

It is black with leather and a sunroof. The vehicle is sold "as is" from my local credit union. I need a car and they are accepting bids. I have to turn my bid in by April 10th. The kelly blue book value for a fair condition vehicle is $8,700. I checked the car out in person and it appears to be in good condition. This could be a chance for me to get a nice car for less money. However, I would have to bid without knowing what others are bidding...so my bid should be competitive because the highest bidder wins. What do you think a good bid would be? (I am very unfamiliar/inexperienced with this sort of thing.)

They also have a white Chrysler 300 Touring edition with leather, a sunroof, and "my touch" (hard drive and navigation)...it has 59,000 miles on it. The kelly blue book value for a "fair" condition vehicle is about $9,700. I would also like to place a bid on this vehicle even though I think I like the Cadillac better. What do you think a decent bid would be on this?

Thank you for your input and help! :)
 
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