Carmigo elevates Chris Michael to Vice President of Operations

Carmigo elevates Chris Michael to Vice President of Operations

Michael is a nearly three-year veteran of the company, and now serves as a Vice President alongside new responsibilities

Carmigo has announced the promotion of Chris Michael to Vice President of Operations.

Michael started at Carmigo in April of 2021, just three months after the company’s founding. He has remained a foundational member of the Carmigo team, and has lead its operations department across multiple company wide initiatives.

Carmigo started as a solely consumer-focused platform with in-market inspectors across the Southeast. Michael oversaw the inspection and post-sale teams when they were in-market, managed the transition of those teams to headquarters based roles, and is now in charge of managing in-market operations for Carmigo’s growing dealer-to-dealer network.

“It’s hard to imagine Carmigo without Chris,” said Andrew Warmath, CEO and Co-Founder of Carmigo. “I asked him to join the company when there was no promise of a future. Since then, we’ve thrown a lot of changes at him, and he’s handled each one with precision and candor.”

Michael’s newest set of responsibilities come following the launch of its wholesale platform – Carmigo Turn. Carmigo has more than tripled its salesforce in the first quarter of 2024, and alongside this growth comes a need for operational support in markets across the south.

“We’re seeing a growing need for inspector and post-sale efficiency as our network grows and our sales increase,” said Michael. “It’s all about perspective. Our dealers demand a level of service and support on par with our national competitors, and we must meet those needs in order to stay competitive.”

Michael will be focusing on rapidly growing the Carmigo Inspection Team as they eye expansion across the southeast throughout 2024.

Carmigo launched Turn alongside a suite of improvements for its users on February 1.

Visit carmigo.io/turn/ to learn more.

About Carmigo

Carmigo is an online marketplace and wholesale platform for dealerships. They provide tools to help dealerships increase used inventory turn and source consumer cars for their dealership. The startup works with dealerships across the nation, but is based in Tupelo, MS, and is rapidly expanding its team.

Dealer Sales Representatives

Dealer Sales Representative

About Carmigo

Carmigo is changing the way dealerships think about their wholesale strategy by creating a simple, end-to-end platform called Carmigo Turn that is designed to easily increase inventory turn. Carmigo is growing fast with a lot of energy in our pursuit to change the way dealerships manage their remarketing.  We are building a team that thrives in a fast-paced environment with accelerated growth in mind. 

About the Position

Dealer Sales Representatives work to find new dealerships that can use Carmigo’s platform as well as maintain relationships with current dealer customers.  Each DSR will be assigned a market and will work autonomously to build a network of dealers who will buy and sell their cars on Carmigo.  This position will require in-person visits to build and maintain relationships with dealers.

What You Will Do

New Business Development (50%)

  • Identify and create a “hit-list” of sellers who fit Carmigo’s seller profile
  • Visit and call dealerships that are in your market to sell Carmigo
  • Onboard new dealerships to use suite of Carmigo products

Existing Business Management (40%)

  • Understand each dealer’s wholesale preferences and come up with customized solution
  • Work with dealers to identify & list cars they can sell on Carmigo
  • Build a buyer profile for each dealer by identifying cars they are looking to buy
  • Build a healthy ecosystem of buyers and sellers for market
  • Coordinate with inspectors to make sure cars are inspected efficiently

Account Management (10%)

  • Track dealer activity on a monthly basis to ensure proper engagement 
  • Set monthly targets
  • Identify unengaged dealers
  • Log customer interactions in CRM 
  • Handle post-sale issues with operations including titles, transportation, arbitration

Who we are looking for

  • 2+ years automotive sales experience selling to car dealerships
  • Ability to sell in a short sales cycle without having built relationships
  • Ability to build relationships to increase sales with same customer
  • Humble and hungry
  • A self-starter that is motivated to meet goals without much supervision
  • High energy
  • Ability to interact with tech proficiently
  • Automotive wholesale experience, franchise dealership experience preferred

What you’ll get from us

  • Competitive Salary + Company Shares
  • Opportunity to be an early contributing member of a company with big dreams
  • A company culture that encourages intellectual curiosity by offering opportunities to expand your knowledge

Hiring is contingent on a satisfactory background check as permitted by law. Any falsification of your application or any other hiring materials is grounds for rescinding an offer or termination of employment. Carmigo is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law

Looking for candidates that live in these markets

  • Nashville, TN
  • Knoxville, TN
  • Tallahassee, FL
  • Little Rock, AR
  • Dallas, TX

Job Type: Full-time

Compensation: $80,000.00 – $120,000.00 per year OTE

Benefits:

  • Paid time off
  • Health insurance
  • Dental insurance
  • Vision insurance
  • Company car + phone
  • Flexible schedule

How to Use Carmigo’s Automated Rules to Increase Turn

How to Use Carmigo’s Automated Rules to Increase Turn

The used car market is hard to navigate, and 2024 brings even more challenges for dealerships. But we're here to help.
Carmigo is dedicated to bringing you solutions designed to increase inventory turn and protect profits.
Carmigo Turn’s Automated Rules helps you move your cars for more BEFORE they start to slow turn.

You can set your automated rules right now. Follow the video for step-by-step instructions or contact your Dealer Sales Rep.

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Deep Dive: Carmigo’s Automated Rules

‘Set it and forget it’ only works if you, well, set it.

Last month we announced the biggest product update in our company history. Carmigo Turn is our new wholesale platform designed to help you increase used inventory turn.
At the center of Turn is our Automated Rules:
Average days to turn on used inventory is at a five-year high.
Change pricing based on age guidelines that you set
Flexibility to use internet price, wholesale price and cost as your basis

Is the “Affordability Crisis” Here?

This newsletter from the Car Dealership Guy caught our attention.

You can read the full newsletter here, but here is a quick summary:

• Average negative equity for consumers is highest since 2020

• Manufacturers pursuit of higher margins and supply chain issues are to blame – among other factors

• This is creating a very competitive used car market

So what does this mean for your dealership?
Your used inventory strategy in 2024 should be very intentional – and it won’t be easy.
1. Focus on acquiring cars that data shows won’t slow your turn

Turning every stone to find affordable models that fit the needs of your customer base is key, even if it means looking outside of your traditional acquisition channels

2. Move the cars you know aren't a good fit

In a highly competitive market, you can’t run with ankle weights. Make an honest assessment of your used inventory and get rid of the cars slowing your turn before you’re in too deep.

Surprise, surprise – we can help with both. Talk with your Dealer Sales Rep today about how we can help.

Your FAQ’s Answered

Last month brought a lot of big changes for us. And in tow came a lot of great questions from all of you. Check out some of our most frequently asked questions below to help guide you through some of the biggest changes we rolled out to the Carmigo experience.

Meet Brandon and Mike, Carmigo’s Newest Dealer Sales Representatives

Meet Brandon and Mike, Carmigo’s Newest Dealer Sales Representatives

They bring more than 30 years of automotive experience to Carmigo

We’re thrilled to welcome the two newest members of the Carmigo team – Brandon Crouch and Mike Benke. They have joined as Dealer Sales Representatives as we continue to expand our dealer network. Combined, they bring more than 30 years of automotive experience to Carmigo.

 

Crouch joins us from Collierville Chrysler Dodge Jeep Ram where he worked as the General Sales Manager. He has an extensive background in the dealership world with previous posts at Gossett Motor Cars and Ford ProfitBuilder. Brandon is now bringing his more than 10 years of automotive experience to our Memphis market.

 

Benke served as the Territory Manager at ACV Auctions where he was responsible for the buying and selling relationships of dealers throughout Southwest Virginia. He brings a wide range of experience from both the dealership and auction world, working roles at Capitol City Auto Auctions and Advantage Ford. Benke is now responsible for launching our Roanoke market.

 

This newest expansion of our team directly aligns with the launch of Carmigo Turn – our new wholesale platform designed to help dealers increase their used inventory turn. If you’re in one of their markets and want to see how Carmigo can make it easier to manage your lot, give us a shout. We’d love to help.

Meet Angelia and Shannon, Carmigo’s Newest Dealer Sales Representatives

Meet Angelia and Shannon, Carmigo’s Newest Dealer Sales Representatives

They bring more than 30 years of automotive experience to Carmigo

We’re thrilled to welcome the two newest members of the Carmigo team – Angelia Madderra and Shannon Short. They have joined as Dealer Sales Representatives as we continue to expand our dealer network across the Southeast. Combined, they bring more than 30 years of automotive experience to Carmigo.

 

Madderra joins us from America’s Auto Auction in Birmingham where she worked as a Digital Sales Representative. She has an extensive background in the auction world with previous posts at ACV Auctions and Auto Auction of Montgomery. Madderra is now bringing her more than 13 years of automotive experience to our Montgomery/Columbus market.

 

Short previously served as a Market Expansion Manager at EBlock where she was responsible for the go-to-market strategies for nine states. She brings a breadth of experience from both the dealership and auction world, working roles at KAR Global and Dealers Auto Auction. Short is now responsible for launching our Mobile/Pensacola market.

 

This newest expansion of our team directly aligns with the launch of Carmigo Turn – our new wholesale platform designed to help dealers increase their used inventory turn. If you’re in one of their markets and want to see how Carmigo can make it easier to manage your lot, give us a shout. We’d love to help.



Carmigo Turn Launches February 1st

Carmigo Turn Launches February 1st

The used car market is hard to navigate, and 2024 brings even more challenges for dealerships. But we're here to help.
Carmigo is dedicated to bringing you solutions designed to increase inventory turn and protect profits.

Table of Contents

Last week, we announced Carmigo Turn

It’s kind of a big deal–one of our biggest announcement ever.

Here's what you need to know:
Average days to turn on used inventory is at a five-year high.
Used car values have plummeted since the pandemic.
In light of these market trends, we created Carmigo Turn to help you increase used inventory turn.

All new buying interface

We listened to your feedback.

Alongside Carmigo Turn, we’ll be releasing our updated browsing interface for our one-day auction and marketplace.

These are just some of the biggest changes we’ve made. We’ve also introduced a watchlist, new filters and flags for listings you’re high bid on and where you’ve been outbid.

Have you set up your inventory integration?

Your DSR can help. If your inventory feed isn’t integrated with Carmigo you won’t be able to use Carmigo Turn, our marketplace or have the ability to push your listings to other nationwide marketplaces. Talk to your DSR today about getting integrated so you can start increasing your turn.

Meet Stacy, Carmigo’s Alabama Dealer Sales Representative

Meet Stacy, Carmigo’s Alabama Dealer Sales Representative

She has 15 years of experience in the auction and automotive industry

We’re thrilled to welcome Stacy Williams to the Carmigo team in her role as our Alabama Dealer Sales Representative. Not only does she possess a wealth of knowledge in the auction world, but she also holds a well-rounded accounting background rooted in the automotive sector.

 

Stacy began her career in accounting at Wilson Dodge and Gray Daniels Auto Family in the Jackson, MS market. In addition to standard accounting practices, Stacy’s responsibilities included managing wholesale and retail accounts, auditing, cash control, and inventory management

 

Most recently, Stacy worked as a Field Sales Representative for IAA in Birmingham. She was responsible for building out a buyer network for auctions, negotiating sales, and managing relationships with customers and providers.

 

Stacy’s extensive automotive background, combined with her knack for forging connections, makes her a perfect fit for Carmigo’s customer-centric approach. As we expand further into the Alabama market, we are excited to see Stacy’s skills in action, furthering our mission of making managing your inventory easy.

 

Stacy’s primary focus is connecting with dealers in our Alabama market. If you’re in Alabama and want to see how Carmigo can make it easier to manage your lot, give Stacy a shout.

Meet Toni, Carmigo’s newest Dealer Sales Representative

Meet Toni, Carmigo’s newest Dealer Sales Representative

With an exceptional track record and a deep understanding of the industry, Toni brings a wealth of experience to Carmigo.

We’re excited to welcome Toni Paige to the Carmigo team as our newest Dealer Sales Representative.

Toni is no stranger to the world of auto auctions. She entered the industry as an Auction Coordinator for IAA. There, she was in charge of setting up new provider contracts, registering new buyers, and a myriad of other responsibilities that helped build their pipeline of inventory in her six-year tenure. Toni then joined Louisiana’s 1st Choice Auction as their Professional Sales Representative, which has historically transacted over 15,000 vehicles annually.

Toni’s keen ability to empathize with dealers’ needs makes her a perfect fit for Carmigo’s customer-centric approach. As we embark on exciting ventures, we are thrilled to harness Toni’s skills to help our mission of making managing inventory easier.

Toni’s first focus is helping dealers in our Jackson, MS market. If you’re in Jackson and want to see how Carmigo can make it easier to manage your lot, give us a shout.

Should I Sell My Car or Trade It In? A Comprehensive Comparison

Should I Sell My Car or Trade It In? A Comprehensive Comparison

When it comes time to part ways with your beloved vehicle, the decision to sell it privately or trade it in at a dealership can be a challenging one. Both options have their pros and cons, and understanding them can help you make an informed choice. In this blog post, we will explore the factors you should consider when deciding, “Should I sell my car or trade it in?” So, let’s dive in and weigh the benefits and drawbacks of each option.

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person holding keys to used car ready to sell or trade in
should I sell my car or trade it in?

Benefits of Selling Your Car

Selling your car privately allows you to set the price based on its market value and condition, potentially resulting in a higher selling price compared to a trade-in offer.

If you’re asking “should I sell my car privately?”, think of the opportunity to negotiate with potential buyers, giving you more control over the final selling price.

By selling your car privately, you can aim to maximize your return on investment, especially if you have taken good care of your vehicle and it has unique features or modifications that may attract a niche market willing to pay a premium.

Selling your car privately doesn’t limit your options when it comes to purchasing your next vehicle. You can explore various dealerships, private sellers, or even consider alternative options like auctions or online platforms.

how to sell my car privately person holding car keys

Drawbacks of Selling Your Car

Selling a car privately requires time and effort to advertise, communicate with potential buyers, schedule appointments for viewings and test drives, and handle paperwork. It can be a time-consuming process, especially if you’re in a hurry to sell.

Meeting with strangers and allowing test drives involves some level of risk and personal safety concerns. It’s essential to take precautions, meet in a safe location, and verify the authenticity of potential buyers.

Selling your car privately can be inconvenient, as it involves coordinating schedules, responding to inquiries, and managing negotiations. Additionally, there’s no guarantee of a quick sale, and it may take longer to find the right buyer.

If you’re not experienced in selling cars or negotiating, you may find it challenging to navigate the process effectively. Lack of knowledge about market prices, advertising strategies, and proper documentation could potentially impact the final selling price and overall transaction.

If you still have an outstanding auto loan on your car, selling it privately requires paying off the loan before transferring ownership to the buyer. This extra step adds complexity and might involve coordination with the lender.

interior of used car ready to sell or trade in

Should I sell my car?

Start by determining its value using online resources, such as vehicle valuation websites or consulting with a professional appraiser. Next, prepare your car for sale by giving it a thorough cleaning, addressing any mechanical issues, and gathering all the necessary documents, including the title, maintenance records, and service history. Take high-quality photos of your car from various angles and create a compelling advertisement highlighting its features, condition, and any unique selling points. Post your advertisement on popular online platforms, such as classified websites or social media groups, and be responsive to inquiries from potential buyers.

When arranging test drives, ensure your safety by meeting in a public place and requesting proof of a valid driver’s license. Once you’ve found a serious buyer, negotiate the price, agree on the terms of the sale, and complete the necessary paperwork to transfer ownership. Finally, ensure secure payment by accepting a cashier’s check or completing the transaction at a bank. Remember to cancel your insurance and notify the appropriate authorities of the change in ownership.

carmigo marketplace on mobile phone

Sell your car the easy way

Carmigo offers a marketplace of dealers that want your car. This means you receive multiple offers instead of a singular one, maximizing your chances of getting the best deal. The process is incredibly convenient too – simply spend a few minutes providing the necessary information, and let the Carmigo team handle the rest. Within just one business day, your car could be sold for your asking price or more, and Carmigo even takes care of the pick-up. If your vehicle doesn’t receive an offer equal to or greater than your asking price, you have no obligation to sell or pay any service fees. With Carmigo, you have the flexibility to avoid direct interaction with buyers if you prefer, but rest assured that the Carmigo team is always available to assist you whenever you need them.

Experience a hassle-free and rewarding car selling experience with Carmigo.

keys to used car being handed over after loan purchase

Benefits of Trading It In

Trading in your car at a dealership is a hassle-free process. You can handle the entire transaction, including selling your old car and purchasing a new one, in one location. This saves you time and effort compared to selling your car privately.

When you trade in your car, the dealership takes care of the necessary paperwork, such as transferring ownership and handling the loan payoff. This simplifies the overall transaction and ensures a smoother transition to your new vehicle.

The trade-in value of your old car can be applied as a down payment towards the purchase of a new car. This reduces the amount you need to finance or pay upfront, making it easier to afford a newer vehicle.

In some regions, when you trade in your car at a dealership, the trade-in value is deducted from the purchase price of the new car. This can result in lower sales tax, saving you money during the purchase.

lineup of land rover cars ready for sell or trade in

Drawbacks of Trading in Your Car

Dealerships typically offer lower prices for trade-ins compared to what you might receive in a private sale. They factor in the costs associated with reconditioning, marketing, and reselling the vehicle, which reduces the trade-in value.

While you can negotiate the price of the new vehicle when trading in, the trade-in value itself is usually less negotiable. Dealerships have specific trade-in formulas or guidelines that determine the offer, leaving less room for negotiation.

Trading in your car confines your choices to the inventory available at the dealership. If you have a specific model or brand preference that the dealership doesn’t carry, you might miss out on exploring other options that might better suit your needs.

Dealerships might apply sales pressure to persuade you to accept their trade-in offer and purchase a new vehicle from them. It’s important to stay firm on the value of your trade-in and make sure the overall deal aligns with your requirements.

lineup of used cars at a dealership ready for trade in

Should I Sell My Car or Trade It In?

Trading in your car at a dealership is a straightforward process. First, research the value of your car to have an idea of its worth. Then, visit a reputable dealership and express your interest in trading in your vehicle. The dealership will inspect your car, considering its condition, mileage, and market demand. Based on their evaluation, they will make you an offer. If you accept the offer, the dealership will handle the necessary paperwork, including transferring ownership and paying off any existing loans. The trade-in value can then be used as a down payment towards the purchase of a new vehicle. It’s important to remember that trade-in values are typically lower than what you might get in a private sale, but the convenience and simplicity of the process can make trading in a car a favorable option for many.

Selling A Car With A Loan in 5 Easy Steps

Selling A Car With A Loan in 5 Easy Steps

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Selling a car can be a daunting task, especially when you still have an outstanding loan on it. Many car owners find themselves in a situation where they need to sell their vehicle before fully paying off the loan. In this article, we will guide you through the process of selling your car with a loan, ensuring a smooth transaction and a successful sale.

Steps to Sell Car With a Loan

two men shaking hands on a car loan payment deal

1. Determine the Loan Payoff Amount

The first step in selling your car with a loan is to determine the exact amount you owe the lender. Contact your auto loan provider to obtain the payoff amount, which includes the remaining principal balance, any outstanding interest, and any applicable fees. This information is crucial as it will help you calculate the minimum selling price you need to cover the loan balance.

Here are the steps to follow:

  • Gather Loan Information: Collect all the relevant documents related to your car loan, including the loan agreement, payment history, and any correspondence with the lender. Having these documents at hand will help you communicate effectively with the loan provider.
  • Contact Your Lender: Reach out to your auto loan provider by phone, email, or through their online customer portal. Identify the appropriate department or representative who handles loan inquiries.
  • Request the Payoff Amount: Clearly state your intention to sell your car and ask for the current loan payoff amount. The payoff amount is the total sum required to completely satisfy the outstanding balance on the loan. It includes the principal balance, any accrued interest up to the date of the request, and any applicable fees or penalties.
  • Provide Required Information: The lender may ask for specific information to identify your loan account accurately. Be prepared to provide details such as your loan account number, the VIN (Vehicle Identification Number) of the car, and personal information to verify your identity.
  • Confirm Calculation Details: Once you receive the loan payoff amount from your lender, take a moment to review the calculations. Ensure that all relevant factors, such as any outstanding interest or fees, are included. If you have any questions or concerns, seek clarification from the lender’s representative.
  • Consider a Payoff Quote Expiration Date: Some lenders provide a “payoff quote” that is valid for a specific period, usually a few days. If you plan to sell your car within that time frame, make a note of the expiration date. If the quote expires before the sale, contact the lender to obtain an updated payoff amount.
  • Verify Payment Instructions: Inquire about the preferred method of payment for the loan payoff. The lender will typically provide instructions on how to make the payment, such as via check, electronic transfer, or through an online portal. Be sure to clarify any specific requirements or deadlines to ensure a smooth transaction.
person reviewing numbers and stats for a car loan

2. Assess the Market Value of Your Car

Next, research the current market value of your car. Consider factors such as the make, model, year, mileage, condition, and any additional features. Several online platforms provide estimated values for used cars, such as Kelley Blue Book or Edmunds. Compare these figures with local listings to get a realistic idea of your car’s worth.

where can i sell my car for the most money? hand full of money

3. Calculate the Equity or Negative Equity

To determine whether you have equity or negative equity, subtract the loan payoff amount from the market value of your car. If the market value exceeds the loan balance, you have equity. Conversely, if the loan balance is higher, you have negative equity. In the latter case, you will need to consider additional steps to handle the difference.

Equity Formula: Car Value – What You Owe = Equity

tools under hood of used vehicle
luxury cars at a dealership

4. Decide on the Selling Method

Once you have a clear understanding of your car’s value and loan payoff amount, you can choose the selling method that suits you best. Some common options include:

a. Private Sale: Selling your car directly to another individual allows you to negotiate the selling price and potentially maximize your earnings. However, keep in mind that handling paperwork and advertising the sale will be your responsibility.

b. Trade-In: If you plan to purchase a new vehicle from a dealership, consider trading in your car. The dealership will assess its value and deduct the outstanding loan amount from the trade-in value. This option may be more convenient, but you may not receive the highest possible price.

c. Sell to a Dealership: Dealerships may be willing to buy your car even if you have an outstanding loan. They will pay off the loan directly and offer you the remaining equity, if any. Remember that the price offered by dealerships might be lower than what you could get through a private sale.

D. Carmigo: The best way to sell your car if you’re looking for ease and speed without missing out on a great deal. Carmigo handles loan payoff for you, so you don’t have to worry about anything.

keys to used car being handed over after loan purchase

5. Complete the Sale

Regardless of the selling method you choose, there are a few essential steps to complete the sale:

a. Gather Documentation: Collect all relevant paperwork, including the vehicle title, loan documents, maintenance records, and any warranties. Ensure that you have a lien release from your lender once the loan is paid off.

b. Negotiate and Close the Deal: In a private sale, be prepared to negotiate the selling price with potential buyers. Once an agreement is reached, create a bill of sale and transfer the ownership properly. If selling to a dealership, review their offer and negotiate if necessary before signing the necessary documents.

c. Pay Off the Loan: Use the funds from the sale to pay off your car loan. If the selling price is lower than the loan balance, you’ll need to cover the difference personally. Ensure that the lender updates the vehicle’s title status to reflect the loan’s closure.

car driving in snow
carmigo marketplace on mobile phone

Skip All These Steps When You Use Carmigo

Carmigo provides an easy and speedy method to sell your car with a loan. After listing your car, Carmigo handles all the paperwork including loan payoff. With a huge network of dealerships, your vehicle receives multiple offers so you get the best price for your car. You set the reserve, and if none of the offers meets it, you don’t pay a dime. Once your car sells, you only have to wait for pickup and then get paid. It’s the ideal way to sell a car with a loan.