CarLotz, the nation’s largest consignment-to-retail used vehicle marketplace, is expanding its ongoing relationship with Ally Financial to provide a “multifaceted” relationship that the company says will improve the experience of its customers.
Michael Bor, CarLotz co-founder and CEO, told Mega Dealer News that the new options offered through the expanded relationship build on the positive experience CarLotz and its customers have had with Ally Financial for years.
“The two companies have always worked well together because we have a similar goal of creating a wonderful experience for car buyers, and our cultures are both very consumer-centric,” Bor said.
With CarLotz working on a growth strategy that is meant to build on the services it already offers to customers, it reached out to Ally Financial about finding ways to more effectively serve its consumers.
“That ultimately led to our multifaceted arrangement that advances the guest experience and provides CarLotz with the flexibility and resources to grow and thrive,” Bor told Mega Dealer News.
Under the new arrangement, CarLotz customers will be able to access additional resources in their car-buying experience, including more \ finance options, new F&I (finance and insurance) product options and the flexibility of an enhanced floor plan and remarketing options that will benefit both parties.
“We are excited to take the Ally relationship to the next level and continue to grow together,” Bor said.
Bor believes that the closer partnership with Ally Financial will be significant in the objectives CarLotz has for the future.
“CarLotz is very much focused on growth and continuing to enhance the guest experience,” he said. “With more fulsome resources from one of the largest full-service financial services companies in the automotive sector, we are confident that we can accomplish all of our goals.”
The expansion of the relationship between CarLotz and Ally Financial follows several recent physical expansions by the company, including a new hub in Nashville, a new location in Florida and the opening of the company’s first Seattle facility.
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