Echopark/Carmax finance model

Aaron Berg

I am sure that many of you have read about Carmax and most recently EchoPark, Sonic Automotives used car brand. These two companies have one associate handling a customer from start to finish, including the financing and aftersale products. Does anyone have experience or insight into this model?

Mike Jeffs

I'm curious as well, Aaron. It's certainly a big undertaking to make a change like that.

DrivingSales News covered EchoPark last year and one of our writers toured the facility.

Bill Liatsis

We love the model and see it as the bellweather. CarMax, and Sonic's EchoPark brand are also starting to see the traction that Vroom, Carvana, Beepi, and Shift are starting to see.

Bill Liatsis

Jeff, this is all about enabling a 'transparent' low-pain process by making everything work 'like it should.' Customers have gotten smart to the fact that checkout takes hours in the store, even though they can buy literally everything in seconds nowadays. Sonic said they were doing this in 2014:

Mark Rask

We are looking at a version of this model

Mark Rikess

My company, The Rikess Group, has about 40 dealership clients where the salespeople go A-Z. Couple of things: usually a team of 5 salespeople with a Document Processor, who is also the compliance officer. 50% of the sales and management compensation should be on F/I. Customers love it and it reduces the expense to sell a car. Feel free to reach out to me directly if you like.

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