CarLotz operates as a consignment store for used vehicles, providing a unique platform where individuals and businesses can buy and sell cars. The company primarily serves consumers looking for a hassle-free car buying experience and sellers who want to maximize their vehicle's value. CarLotz operates in the used car market, which is a significant segment of the automotive industry. The business model revolves around consignment, where CarLotz acts as an intermediary between sellers and buyers. Sellers consign their vehicles to CarLotz, which then markets and sells the cars on their behalf. CarLotz makes money through a consignment fee charged to the seller and a service fee from the buyer. The company offers a 100% online shopping experience through its CarLotz Express Store, where customers can review numbers, finalize purchases, and even arrange for home delivery without visiting a physical store. Additionally, CarLotz provides transparent, upfront pricing to eliminate haggling and ensure a smooth transaction process. The company also offers in-store pickup for those who prefer to collect their vehicles in person.

Keywords: consignment, used cars, online car buying, transparent pricing, haggle-free, in-store pickup, home delivery, automotive, intermediary, consignment fee.