Why should I sell my car at CarLotz?
It used to be that when you made the decision to sell your car, you had two choices: (1) sell the car to a dealer, which can be convenient but often results in a price that is 15-25% less than the private party value; or (2) take on the time consuming challenge of selling it on your own. CarLotz offers a third option – a physical marketplace that helps sellers get more money for their cars without the traditional hassles and risk of transacting in the private market.
What does it cost to sell my car at CarLotz?
We take an up front fee of $199, which covers the work we do to prepare and market your vehicle for sale, including a thorough visual inspection, state safety inspection, basic interior and exterior cleaning, a vehicle history report, professional photographs, ad copywriting, and various internet listings. If your car needs a full detail, we can take care of that for you for an additional $100 for sedans and $120 for trucks and SUVs. After we successfully sell your vehicle, we take a $699 success fee directly from the sales proceeds. Our incentives are completely aligned: If we don’t sell your car, we don’t get paid a success fee.
What services am I paying for?
When you list your car with CarLotz, you will receive all of the features and benefits of a best-in-class dealership working on your behalf to sell your car quickly and professionally. Our team will educate you on market conditions to help you price your car competitively, clean and prepare your car for sale to maximize its lot appeal, advertise and display your car effectively to maximize coverage, manage buyer inquiries and test drives, and provide you continuous updates to keep you informed. Once you are matched with a buyer, we will arrange any document processing on your behalf.
Where is my car listed?
We post all listings on our own inventory site, AutoTrader, Cars.com, Craigslist, and many others. If your car brand or model has an enthusiast following, we may post it on associated online forums where applicable. We may also feature your car through our Twitter and Facebook pages, leveraging the power of social networking to expose your car to hundreds of additional buyers. In addition, about 45,000 cars a day pass by each of our lots on the Midlothian Motor Mile, West Broad Street, and South Military Highway in Chesapeake, all of which generates a steady flow of walk-in traffic. Our team works extremely hard to maximize exposure to your vehicle during the marketing process.
What should I bring to list my car at CarLotz?
To get started, we will need a copy of your driver’s license, current registration, proof of insurance, title (or lienholder information, if applicable), any available service records, and a full tank of gas.
What do I do while waiting for an offer on my car?
Typically nothing at all. We will professionally handle all inquiries, test-drives, and inspections. We will also regularly update you on our progress and sales activity.
What happens when someone wants to buy my car?
Congratulations! Once a buyer makes an offer, we will present it to you in the manner you’ve specified (e.g., phone, text, e-mail). We will present you with all the offers we receive for your car…accepting them or rejecting them is up to you. If you accept the offer, we will make arrangements to finalize the deal, process all paperwork, and prepare the vehicle for delivery. Once the vehicle is delivered, we will cut you a check within 5 business days.
What if I don’t live near your store? Can I consign my car from far away?
We work with sellers of cars all around the country and have received cars from places such as Boston, Atlanta, and even San Francisco! Because we can help you sell your car for thousands more than trade-in prices, you can still save thousands of dollars by using CarLotz, even after the cost of shipping and our consignment fee. We will use our network to arrange low-cost shipping from your driveway to our store, so you don’t have to lift a finger. Any paperwork can be processed remotely via email, fax, or mail. Just give us a call, tell us about your car, and we’ll take it from there.
Do I have to leave my car with you?
While we recommend leaving your car with us to increase your chances of a quick sale, we offer a variety of flexible options that allow you to leave your car when it is convenient for you. Weekends, certain days of the week, or while you’re on vacation…whatever works best. We can help you come up with a plan that will maximize your exposure while minimizing any inconvenience.
What if I still owe money on the car?
Many of our sellers have outstanding loans on their vehicles, which is one of the reasons they are drawn to our service. We help them obtain more value for their vehicle to pay off their loan and maybe have a little left over. Once we sell your vehicle, we will pay the lienholder directly and write you a check for any difference.
What if I want to donate my car?
Through the CarLotz Cares-a-Lotz donation program, donors can choose their favorite charity, drop off their car, and let us take care of the rest. CarLotz will sell a donated car for private market value with no upfront cost to the donor or charity. In this way, we can cut a larger check to charities and provide donors with the greatest possible tax deduction. If you donate your car through CarLotz, we will maximize the donation amount and tax deduction, handle all of the DMV and IRS paperwork, and also send you a tax-ready deduction form.
What if I currently lease my car?
We can help. Many of our customers choose to sell their car towards the end of their lease or even with many months remaining until termination. It’s easy and is a great way to realize any equity value you may have built up in your lease. First, call your leasing company and have them provide you with the buyout value. Also have them give you a list of the charges you may be responsible for if you turn the car in (e.g., condition of tires, chips in the windshield, dings or scratches on the car, etc.). Then, give us some details about your car, and we can give you a sense for its value if sold in the private market. If the market value is greater than the buyout value, we will help you realize that value (and have helped customers realize thousands of dollars on their leases so far). You can call us anytime to discuss, or you can read more about extracting value from your car lease here: http://www.mainstreet.com/
What if my car is over 20 years old?
We love all kinds of cars – old and new! CarLotz has sold cars from every decade beginning with the 1940s. We call cars over 20 years old “Classic Cars.” Classic Cars cost the same to list and sell through CarLotz as newer cars. The only difference between a Classic Car listing and a traditional listing is that Classic Car owners should keep their beauties at home during the marketing process. CarLotz will inspect, clean, and photograph your Classic Car, but it will then return to the comfort of your home or garage. If a buyer wants to come see the car, we will call you and make an appointment. Why do you keep your classic beauty at home? We’ve found that Classic Cars generate largely phone interest (as opposed to visitors dropping by the lot in person) and are often purchased from non-local buyers, so an appointment-based system works best. CarLotz will still handle all the payments, transfers, DMV administration, and headache, but you hold onto it until we sell it.
Can CarLotz help me sell my motorcycle?
Of course! We are licensed to sell motorcycles, so just give us a call or stop by with your bike.