Why should I shop at CarLotz?
Car buyers that shop at CarLotz are able to find attractive vehicles at prices that are typically 15-25% less than they would pay at a traditional retail/dealer outlets. All the cars listed on our lot are for-sale-by-owner. When buying a car through CarLotz, you are undertaking a private transaction with the seller that we facilitate anonymously, safely, and conveniently.
Who are the sellers?
Cars listed at CarLotz are sold by owners who would like to sell their car privately without the hassle, time commitment, and risk of doing it themselves. By removing traditional middlemen from the process, CarLotz helps buyers and sellers save money…a true win-win.
Does CarLotz provide financing?
Absolutely! CarLotz partners with a number of banks and financial institutions that can help with just about any purchase in almost any credit situation.
Can I have a mechanic check out the quality of the car?
Absolutely! While all cars listed at CarLotz pass Virginia state safety inspection minimums (e.g., brakes, tires, lights, and other operational items), we are not mechanics and do not conduct thorough quality inspections. Having a certified mechanic is a great way to get comfort that you are purchasing a quality car, and we encourage all buyers to take that step. Pre-purchase inspections are available at most dealerships and independent mechanics and generally cost between $100-$200. We simply need a refundable deposit based on a price you have agreed upon with the seller. You are then welcome to choose your own mechanic, or we can facilitate taking the car to a dealer or service shop if it’s near our store.
Can I purchase an extended service contract / warranty?
You bet! CarLotz works with a small handful of trusted warranty / service contract providers that can offer you competitive rates on coverage ranging from a basic 3 month plan to an extensive 5 year package. These plans can cover anything from simply your powertrain to full bumper-to-bumper protection. Service contracts are a great way to protect yourself against repair costs that may arise from vehicle issues after your purchase, so we highly encourage buyers to purchase this protection.
How do I know I’m getting a good deal?
By purchasing vehicles directly from the vehicle’s owner, you avoid paying traditional middlemen markups and receive true private party values. We’ll help you understand the value you receive by showing you the same market data that we use to help sellers price their vehicles…we want you to feel good about buying a great car at a fair price.
Are there any transaction fees for buyers?
Buyers at CarLotz will pay a processing fee of $249, DMV license and registration fees (in VA $60.75-71.75 for new plates or $22.00 if transferring tags), and taxes (in VA 3% title tax) that are passed directly through to the relevant authorities. Any other transaction fees earned by CarLotz are paid solely by the seller. You will have the ability to purchase or arrange ancillary services, such as service contracts and financing, but that’s totally up to you.
How is CarLotz different from a traditional dealership?
CarLotz doesn’t sell its own cars; it matches buyers and sellers. We don’t own any of the cars on the lot, and we get paid the same whether you buy a Ferrari or a Ford Focus. We help you get cars at better prices than a dealership, but we can also provide you with services you would find at a traditional dealership such as financing and warranties.
Why is shopping at CarLotz better than going straight to the seller?
The CarLotz process is better than going straight to a private seller for a number of reasons:
1. Selection – At CarLotz, you have a wide variety of vehicles to shop from at a single physical location, which is more convenient than arranging test-drives with multiple sellers in various locations.
2. Expertise – We have access to mechanics, car enthusiasts, finance experts, registration clerks, etc. to answer any questions you have.
3. Convenience – We are a one stop shop. From sales to service, DMV to detailing, we can do it all. CarLotz is an effective way to get a better than retail value without the traditional hassles.
4. Safety – You work with us only. No dealing with strangers, no face-to-face negotiations with the owner. It’s anonymous, safe, and comfortable.
What should I bring with me when purchasing a car?
We know buying a car can be a hassle, but when properly prepared, we aim to have you in and out within 30 minutes. Please bring the following:
1. Driver’s license – Anyone who will appear on the title will need to bring a driver’s license and sign the paperwork.
2. Proof of insurance – Call your insurance company and have them add the vehicle you are purchasing to your insurance plan. They will typically need the VIN #, and they can subsequently fax it to us at 804-237-0994 or email it to us at [email protected].
3. Money – We can only accept cash, a cashier’s check, or a loan check from the bank. Unfortunately, we cannot accept personal checks.