So I’m in the process of selling my 2013 Cadillac CTS. I’ve got quotes from Vroom, Carmax, Carvana, and AutoLenders Go (Algo). AutoLenders Go beat them all by quite a bit. Their offer is on the low side of what I’d accept on a private party sale, but it’s acceptable (and worth it for the simplicity).
From everything I’ve read, most of the complaints about Algo have to do with a bait-and-switch on their online offer, which isn’t my situation (I’m happy with their offer). People who’ve sold to them seem satisfied.
Their sale process does give me some apprehension, which is why I’m posting. Sending my title (I won the car outright) with a signed power-of-attorney form seems risky. Also, they told me their check would be drawn from PNC Bank, and they send it to the company that will pick up the car, which then has 48 hours to arrange pick-up. The check will be dated from when they send it to the transport company, so by the time the car is picked up the check will have cleared.
Any thoughts on their process, potential troubles or scams?
Thanks in advance for any insight.