San Antonio, Texas, Nov. 27, 2018 (GLOBE NEWSWIRE) -- CarLotz, a Richmond, Virginia-based consignment store for used vehicles, today announced its continued national expansion with its first Texas location opening on I10 in San Antonio. Along with the other stores opened this year in Florida and Illinois, CarLotz now serves more than half the United States with its innovative one-of-a-kind consumer and commercial used vehicle consignment and sales business model.
“In the past few years, we’ve seen increasing demand for our unique vehicle consignment business model, specifically from consumers and our commercial accounts in the great state of Texas and the surrounding regions.,” said CarLotz Co-Founder and CEO Michael Bor “We’re excited to bring CarLotz to San Antonio. The city’s dynamic growth, diverse car market, and welcoming community make it a perfect fit to grow our consignment model.”
CarLotz enables consumers and corporations to make the most money possible when selling their vehicles. For a flat fee paid by the seller, CarLotz prepares the vehicle for sale, markets it nationwide, manages buyer questions, conducts test drives from its retail stores, negotiates a deal on the seller’s behalf, and cuts the seller a check when the vehicle sells. The company’s unique consignment model typically generates thousands more dollars for sellers than they can get through trade-in and wholesale auction channels. Buyers shop attractive, competitively priced vehicle inventory online and through CarLotz retail locations, which are staffed by friendly, non-commissioned sales people.
CarLotz San Antonio currently has ten employees and will grow its staff to 30 full-time jobs on its sales and service floors. The 22,000 square-foot store and lot will have the capacity to house 350 vehicles and is located on a premier stretch of one of San Antonio’s most active new and used car corridors. The facility will support reconditioning efforts to ensure vehicles are in exceptional shape when offered for sale.
CarLotz is also partnering with local businesses. “We’re working with several commercial sellers in the area and extending our services to local businesses and consumers who want more money for their car. Both commercial and consumer sellers leave money on the table when they trade-in or sell through wholesale auctions, but that’s often their only viable alternative. With CarLotz, sellers have a new option with our consignment model, which enables them to get what their vehicle is actually worth without the hassle of selling it themselves,” said Bor.
CarLotz was launched in 2011 by co-founders Michael Bor, Aaron Montgomery, and Will Boland, who were frustrated with the traditional process of selling used cars. Since then, the company has opened stores throughout Virginia, North Carolina, Florida, and Illinois in response to growing demand from sellers for its vehicle consignment model.
In addition to its consumer consignment business, CarLotz is the country’s largest retail remarketer for commercial and institutional vehicle sellers, using its consignment model to enable leasing companies, fleet management companies, third-party remarketers, banks and even other dealerships to directly access retail buyers for vehicles they would otherwise sell through wholesale auctions.
“Our business model is ideally suited for customers in Texas,” said CarLotz Director of Sales and Operations John Foley. “Not only do sellers make thousands more than their trade-in value, buyers save money as well, and they love our non-commissioned, transparent pricing model that takes the pressure out of the traditional car-buying experience.” The San Antonio location is located at 15447 West Interstate 10 in San Antonio and will maintain store hours from 9:00am to 7:00pm Monday through Saturday.
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About CarLotz
CarLotz is a used vehicle consignment and retail remarketing business that enables consumers and corporations to make the most money possible when selling their vehicles. For a flat fee, CarLotz prepares the vehicle for sale, markets it nationwide, manages buyer questions, conducts test drives from its retail stores, negotiates a deal on the seller’s behalf, and cuts the seller a check when the vehicle sells. The company’s unique consignment model typically generates sellers thousands more than trade-in and wholesale auction channels, while buyers shop attractive, competitively priced inventory online and through CarLotz retail locations. CarLotz was founded in 2011 and currently operates eight retail locations and three reconditioning centers in Virginia, North Carolina, Florida. For more information, visit www.carlotz.com.
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