Update: Lemonis Formally Acquires 'Car Cash'
Marcus Lemonis, chairman and CEO of Camping World and Good Sam and star of CNBC's "The Profit," has acquired Car Cash, an automobile buying service founded by Bruce Baron, that has been servicing the New York City metropolitan area since 1977.
The fast, simple and hassle-free service provides a direct method for consumers to sell their vehicle by receiving a free quote online, in person or via telephone and accepts almost any car, truck or SUV, including those financed and/or leased, according to a news release.
"I am very excited to be involved with this vibrant business. With nearly 50 million new and used vehicles sold in this country each year, people have a need to sell their vehicle and many don't have the time to rely on classified ads or possibly lose money on a trade. At Car Cash, we will provide that service and expand the business model nationwide with over 70 locations coming in the next few months," said Lemonis. "Car Cash has historically beaten trade-in prices and customers can receive their money fast. I look forward to expanding the legacy that Bruce Baron founded with the original location in New York and to have his sons, Jon and Andrew, continue assisting with the business."
The first episode of "The Profit," which aired Tuesday night (July 30) on CNBC, featured Lemonis stepping in to assist the Car Cash team turn around their failing business. When Lemonis isn't running his multi-billion dollar company, Camping World, he goes on the hunt for struggling businesses that are desperate for cash and ripe for a deal. In the past 10 years, he's successfully turned around over 100 companies. Now he's bringing those skills to CNBC and doing something no one has ever done on TV before … he's putting over $2 million of his own money on the line.
"We look forward to providing a fast, consistent and convenient experience for customers to sell their car, truck, or SUV. You can get a quote for your vehicle in minutes online at www.carcash.com or by calling 1-800-CarCash and then receive your cash in minutes from a Car Cash location," remarked Randall Rahe, Car Cash Division president. "In the next 12 months, Car Cash will be available nationwide through a combination of licensees and our existing platform."
Key features to the CarCash.com business include:
- Providing clients with the easiest, fastest and most profitable way to sell your car.
- Unprecedented customer service and a staff of trained purchasing professionals.
- Guaranteed highest possible instant cash price for a car SUV or pick-up truck regardless of their year, make, model or mileage.
- 24/7 live car quote service from their website www.carcash.com makes it one of the most advanced car buying services.
CNBC's "The Profit" airs Tuesday nights at 10 p.m. ET/PT. The rebroadcast of the Car Cash episode will air throughout the week. Check local listings for more information.