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CarLotz: Consignment Store for Cars

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  • Description

    CarLotz is a physical used car marketplace that operates as a consignment shop for cars

  • Duration 5:07
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Is that right now -- glad to Richmond Virginia.

Michael -- with a as a founder of car lots.

And that -- good casing that people are really make is in serious money in the used car world's aren't there.

They are they are indeed data are pricing area are at record high.

And -- take advantage that our -- and -- were there.

-- is very bad recognize because of the whole cash for clunkers deal because I remember back then.

There's a lot of talk that you know part of the cash for clunkers deal with you had -- -- in your clunker and then they just storing it.

And it really killed the used car market.

Yes certainly are -- you know another part of new car sales have been down a little less than we had the new -- there are down every minute are we a lot if you are and so -- -- used cars are in the market people are paying for the supply that is still -- there.

OK some tussle car -- does how is it different from places like CarMax and all those others.

Under consignment store cards -- different from traditional -- -- basically service provider we enable people who.

I want to participate in the US market but don't -- deal with the US they wanna just you know I used car market.

And we enable them to I think eventually in value to the private market.

But it safely and without hassle to me that our our customers come in they're Green -- -- -- I we get them cleaned and photographed and inspected by mechanic so we never.

Ownership of the car -- sit down a lot.

And we market done like a real agent market house and we ensure that the seller to get a good private market value for their car which is still it is out to the reseller I'm sort of fire.

If any increase from the trade in value which is what that -- would have gotten.

It went it they've -- to a dealer and -- anyway and actually happened now without this dollar really having to do anywhere and how we do all the work for them.

I know that it's not a clunker you know I am.

-- not physically looking at this car am I am not coming to a lot of doing this all online right.

You know we have a physical -- and you can't a lot lot harder a lot of our by over the Internet from -- well.

But I 9080 to 90%.

On the a lot and they keep their cars all the -- that are on a lot we get that I inspect and I mechanic and were able to offer warranties might cite any -- where we can really replicate -- confident that you -- -- Through a mechanic inspection and through -- lucky that we can put -- -- the sale.

A yearly I -- -- -- and you were an I banker with Lehman Brothers times so you do is you get let go during mean fiasco.

-- -- Brothers back out before yeah you know I a lot of -- and and I left that Lehman Brothers to go to business school.

You know I -- dissident banking with a firm called aliens which is an emanate from -- -- -- -- I know you're really -- -- I and we're ninety -- still telling Sara how do you -- -- Harris Williams I banking I know you are making lots and not to money.

To you -- start my own used car dealerships.

Yes it's not often you get a lot of bankers gone into the used car or.

I got with a couple got to work tremendously -- and you have a lot of experience in the state and entrepreneurs in general.

When I was a banker I -- -- that traditionally the group.

-- -- -- -- dealt a lot with it.

Aftermarket automotive and service providers in the in the -- world can do you know we get this year we spent about a year developing it and and we start rolling it out a few months ago.

Do tremendous response from the community here.

And you're really dealing nationally we've got sellers.

Who can send their guard down from often can hardly an Atlanta.

From you know gunfire from -- Ireland that citizen and the northeast and and -- -- really can't acting at least -- exchange for people do not participate in the private you can't market down bet that I got -- dealers who are in the market bet there are many many of them who.

We're investment bankers while ours and it.

What part of the -- -- consultant.

Paul little.

To do it but it.

Again -- it is you know -- -- all salesman.

-- -- don't -- anybody so nobody went Columbia slash news doesn't if I'm not mistaken in my in my -- these managers somebody sentiment that.

Website doubling your website.

Yeah our website at www.com.

A lot not comment -- -- with a BC they are a look easy.

You know we've got.

It should be my car on the lot right now we get our and you guard every week -- great cars all in this all the way to everyday drivers obviously great selection.

Excellent men -- good luck with that eleven some of making money used car business these days is that I personally -- president -- -- killed it.

We cash for clunkers Michael Moore founder of car lots -- car lots and easy dot com Dan enrichment thank you -- -- very much.

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