What PCAP Learned From Carlotz

Jack from PCAP recently had the pleasure of getting in contact with all three founding members of Carlotz. Carlotz was what PCAP Motors will strive to be: a consignment-based dealership focused on providing a fairness that people have never received in the automotive industry. Carlotz, like PCAP, appraises the vehicle, reconditions it, fixes any problems with the vehicle, lists, and sells the vehicle hassle-free to both the buyer and seller.

The first founder to get in contact with Jack was Will Boland. Will was a co-founder and the CFO of the company. He made significant changes to the company and talked about the fun times from the beginning and their struggles. Will's advice to PCAP was sent in email form and was absolutely useful. One of the things that we are currently building is a "what is my car worth" tool along with a nicer website to match. This change will be super helpful for the company to give it a more professional look than it has currently.

The second co-founder I got in touch with was Aaron Montgomery. Aaron was the COO for the company and was kind enough to hop on a call with me. We spoke and got to share funny stories and creative ideas with one another. It was really cool to learn that Aaron got his pilot's license because he didn't want airport delays to keep him from his family. I also got to give him some of my ideas to either reassure or tweak them. Aaron and Will are now working on a startup that seems really interesting and very useful.

The last one Jack met was Michael Bor. Bor gave a much different approach that was immensely helpful. Michael got the entrepreneur itch in high school and decided to act on it after a successful investment banking career. He gave such fantastic advice and challenged many of our ideas that had only been tested in small batches. After the meeting, PCAP took his advice and decided to erase the 3% success commission as it may prevent fairness between cheap and expensive cars. Instead, it will be a flat 300 success fee.

Michael, Aaron, and Will were so kind to take time out of their days to help PCAP learn from experts. Jack has been keeping in touch and seeing if there is any way he can help with his small network and grit.

Changes being made

One of the changes being made will be a new website. This will help make PCAP Motors look more professional and help optimize efficiency and sleek design. We will also be adding a better version of a car price evaluator. This will make it easy for you to see the potential profits of going with us instead of a private sale or trade-in. The next change being made is adjusting pricing. At PCAP, we have to aim for a decent profit on every vehicle sold. Also, ensuring that you profit from using us is our most important focus at the moment.

Thank you for reading and enjoy the rest of your day!