AutoBuy is delivering fresh, high-quality used vehicle inventory to dealers at a record pace, resulting in triple digit sales growth year-over-year, a nearly 500% increase in EBITDA, over 300K customers served and $2 billion in inventory appraised to date. The company’s virtual buying and appraisal process is driving much of this growth, including recent expansion into four more states: Georgia, Tennessee, South Carolina and North Carolina.
“Our virtual appraisal process was already in progress when the pandemic hit and has only accelerated our vehicle sourcing opportunities, putting us in the sweet spot of current market need and further driving our rapid sales growth and business expansion,” said Mark Maida, AutoBuy Co-founder and CEO. “AutoBuy has always been a disrupter in the industry because we have perfected an efficient and value-focused car selling model for consumers, with the end goal of providing auto dealerships with used vehicle inventory that has not been seen in the market yet.”
“AutoBuy offers the best inventory sourcing solution for auto dealers precisely because we offer consumers a safe and transparent way to sell their vehicles at the highest possible price,” continued Maida. “At a time when used vehicle supply is at historic lows and demand remains high, we are proud to offer an essential service to our industry by providing dealers with inventory that has never been re-marketed. This is crucial as dealers are often competing over vehicles that have been dumped at auction after being listed for months.”
AutoBuy’s virtual appraisal offers consumers a completely contactless process including video appraisal, same-day vehicle pickup and e-check funded within an hour of purchase completion. Consumers also have the option to complete all steps in person. Because of AutoBuy’s 270 thousand strong customer databases that provide enterprise analytics and deep real-time insights into national vehicle pricing, it is able to precisely appraise value based on matching vehicle models to markets with high demand in a way that no one else in the market can. This is why the company can offer consumers among the highest prices for their used vehicles.
