CarLotz, a Consigment Store for Cars – Helping You Sell your Vehicle.
“I want a reasonable value for my used car, but I can’t deal with the hassle and headache of selling my car myself.”
“I’m too busy to deal with selling my car and too leery of dealing with strangers, I’ll just take the low-ball trade-in offer.”
“I never know whether I’m getting a good deal…I just don’t know enough about how to price a used car.”
My partners and I heard these quotes enough and, with the knowledge of the economics that run the industry, set out to problem solve. What we learned is that consumers are not being served in a way that is comfortable, transparent, and enjoyable and the used car market is an annoyance at best and a source of fear at worst. We decided to come up with a way for people to get the value of the private market with the ancillary services and benefits of a dealership…an idea in which everyone wins. CarLotz was born – a consignment store for cars.
We opened CarLotz a couple of months ago. Since opening, we’ve had over 80 cars consigned to us and we’ve sold about half of them. It seems that some people are pretty excited about having a new option in the used car market. They love the information we provide to them to help them price their car, they love the way they are treated, and they love the speed at which their cars sell and the values they are getting. We’ve been fortunate enough to spend a lot of time speaking with our customers and getting to know how they want to do business. We’ve molded the business plan to make sure that the service levels we can provide are more than, what our customers demand.
As it turns out, a large portion of our customers is comprised of Seniors or their adult children looking to sell an extra or unwanted car or a car that will no longer be used due to a life transition. We’ve greatly enjoyed working with Seniors and their adult children and helping them get a great value for their car without having to do a thing! Our customers drop off their cars, we get them checked by a mechanic, professionally cleaned and photographed, listed through all the major print and on-line vehicle marketing services, and then we manage test-drives, and help buyers with financing and warranties and ultimately the DMV paperwork. The customer then gets their check…its that easy!
Now, with CarLotz, a consignment store for cars, we provide the private market value to both sellers and buyers and save them the traditional hassles and headaches. We are still learning, and we have a long way to go, but we are very excited about serving the local community with a new service that let’s them be the used car dealer. If you want to see first hand how we can help you, please come by and talk to us.
Michael W. Bor
11944B Midlothian Turnpike
Richmond, VA 23113