We have a Vroom, Carvana, etc threads going so why not ALGo. In NJ and Eastern PA, there is a Carmax-esque dealership chain called AutoLenders. They’re no negotiation and used to specialize in off-lease luxury cars, but they’ve shifted more to mainstream brands over the past couple years.
Recently, they launched ALGo which competes directly with Carvana and Vroom. I’d venture to guess they plan on doing nationwide online sales soon.
You submit an appraisal online, schedule a FaceTime appraisal and then get a finalize quote within an hour or so. There is a $75 administrative fee when selling a car to them, but they do call the bank to get the dealer payoff (worth it IMHO)
We’re currently selling my mom’s 2018 Equinox to ALGo. She’s tired of leasing so I found a great CPO Lexus RX450h for her. Getting a new car every couple of years just isn’t for her.
Year: 2018
Make: Chevrolet
Model: Equinox
Trim: FWD LT
MSRP: $30,010
Miles: 22,600
Color: Orange (definitely hurts the value quite a bit)
Location: Jersey Shore
Carvana: $17,700
Vroom: 16,545
ALGo: $17,900
ALGo originally offered $16,500 but increased their offer after learning Carvana’s offer. It seems like they are somewhat flexible to negotiation provided you have an actual quote from their competition.
Thus far it has been a very smooth process and every employee we’ve interacted with has been great. I sold my Trax to Vroom earlier this year and they literally called an hour ahead of pickup to say they were coming. Wasn’t a fan of the 0 notice. ALGo has definitely been a better experience. $343 in negative and getting out 2 months early beats paying the $395 disposition fee!
I submitted for an offer and they didn’t ask any questions like condition/options. Gave me an instant offer which was very low. Do they potentially raise the offer after seeing the vehicle through the virtual tour?
I had a quote from ALGo but after the zoom walkaround video the offer was reduced even though the car was in perfect condition. Originally their offer was 4k above any other quote I had received which seemed high anyway to me. They mentioned the initial quote may not have been accurate due to covid/other concerns. They seemed willing to compete with other quotes but I ended up selling mine to carmax.
I have a 3:00 Zoom appraisal with them today for my Hellcat so I’ll see what kind of offer they throw out there. Their quote is looking good right now.
I had a zoom appraisal with them for my 2019 Nissan Murano S AWD that was leased through NMAC last night. They initially offered me 23900 and upped it to 24300 before the 75 appraisal fee. My payoff was 25162 (when leased my murano I rolled in 900 neg equity from my last Nissan). Calling it a win because I really need a pickup truck to tow my camper…my 2020 Odyssey works but its not entirely comfortable.
So overall the process seems to be painless. I just got my papers to sign and send back overnight and they are tentatively picking up Thursday when I get back from camping. Super nice people too.
I tell you…never leasing another Nissan. Carvana wouldn’t take it because its leased through Nissan (offer was 24800 though) and trade in values were 21500 at best locally. Its nearly like new but then again…only had it for 11 months.
Hello, I have the 2017 Nissan Rouge lease expire next month. Can you explain to me the whole process to sell the car to ALGo. the residual value is $16727. So I need to call NMAC to get the dealer buy out value before I make th eappointment for the ALGo zoom appraisal. Please advise.
Thank you
Ho Lee Cow! I was just about to click to accept my Vroom quote when I glanced at this thread. AlGo’s offer is $900 more than Vroom and like $1500 more than Carvana. They don’t ask for much info so I assume the Zoom appraisal is key to their offer. But this would be insane. Car is mint so I’m not worried about any deductions. Would work out to $190/month for a 2019 Accord Sport for 19 months. Not sure leasing is worth it anymore ha! Man, when this buying bubble bursts, it’s gonna be ugly! But for now, EVERYONE is riding this via Carvana or Vroom. Car forums going crazy.
I had a 2017 Hyundai Elantra Limited, which was a sign and drive lease of $182/mo for 15kmi/yr and tax incl., however only drove 31k mi in 3 yrs. Lease payoff was $11,902.
I was originally going to Carvana until this post. Originally, ALGo offered me $14,200 which was really high IMO. After video call, they adjusted to $13k, and after bit of negotiations, it was $13,325.
I was in a rush to sell it, so offered to take it to their location in exchange for a check. So within 24 hrs sold the car and got my check. Process was super smooth, my salesman was a boss.
Dang., that is super impressive. I’m assuming that’s the 1.5 accord sport, right? at $190 a month you made out very well on that entire transaction. Who knows how long this will last for is true. Im in 20 months to my lease and thinking if I should do what you just did but thinking where will I find such a deal that I have now aith this current lease im in.
Are you getting another lease? Or
No, it’s for an Accord 2.0 Sport manual. In blue. Real nice car and color. I just liked my 2017 GTI more. Not sure what I’ll be getting next. I hardly drive any more. Just ordered an $800 electric scooter so won’t need a car till winter.
My 2017 GTI was a similar situation. Kept that for 16 months I think and had a great offer from Carvana. Like 2 years ago so not in Corvid times. I just couldn’t resist their offer and that worked out to the same, $189/month for the 16 months of ownership. Goes without saying, you can only get these numbers if you get a great deal in the first place during purchase. Which I did with the GTI and the Accord.
What was your accord 2.0 lease like? If this is the case in leasing a good lease and being able to drive a $30k + car for less than $200 a month its a total win.
So is it true that when it comes to a carvana buyout or any other buyout that if you made money on your turn in you automatically scored a fantastic lease to begin with, soumds like that.
Sorry, may have been worded a bit confusing. I did not lease my current 2019 Accord Sport 2.0. I purchased it. They are offering $3650 less than what I paid new 19 months ago. So it would work out to $192 per month of ownership. I put zero down when I purchased.
Also same situation with my 2017 VW GTI S. That was purchased as well with zero down. But after the Carvana offer, it worked out to $189 per month of ownership. This was a couple of years ago with the GTI.
Again you MUST get a great deal at time of purchase for this to work. Hope I can keep this trend up ha!
I’m having a nightmare with Carvana, I’ve spent hours on hold and for some reason they still don’t have the dealer payoff quote even though it was obtained verbally twice and it was supposedly faxed twice directly from Toyota and apparently the one I managed to get and send them was addressed to me so they wont accept it as it has to be addressed to them.
I came across this thread, and decided to give it a shot and Algo is so far offering almost $1500 more then Carvana for my 2017 Sienna! I don’t expect it to remain that high because I have some pretty big scratches on the exterior but even if they lower it by $1000 I’m still ahead.
Let’s see what happens with the virtual appraisal. But shout out to @BoardWalkNJ for starting this thread.
