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Originally Posted by winkle
but my impression is that they are essentially trying to wholesale cars with a quick turnover.
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It's called "autoflip", what exactly were you expecting?
Quote:
Originally Posted by winkle
Not really what is promoted.
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Say what? I'd say that their service is exactly as promoted
It's interesting.
My initial reaction is that such things are a scam, but it worked well for my friend.
Obviously they are in it to make money, they have to charge the dealer a fee for their service. (Although it's possible that they in their Establishment & Growth phase, and so are moderating their fees to generate business??)
And yes, the underlying notion is absurd. Somebody could have bought her car for $16k, instead they will pay $19~20k at a dealer. But that's life. I myself have sold cars to dealers who offered more money that what was going privately.
As for the valuations, all I can say is that it was inline with expectations.
She was advertising the car privately, for $17k, hoping to get $16k. Their valuation was $14~15k, and they agreed to a reserve of $15k. She got just over $16k.
Yes, that's less than what dealers are asking, obviously it has to be.