Selling a Used Car on Consignment
You have come to this blog post and are probably looking to sell your used car for cash or a bank transfer. Selling a used car can be done yourself, but it has some significant setbacks.
First, let us see why selling yourself is a bad idea.
- Time-consuming process
- You will be dealing with a stranger who could be a scam artist and make the sales process end unpredictably.
- If your vehicle is old or not in demand by locals, it will be a pain to sell it quickly.
- Title transfer (documentation) is tiresome, making selling your vehicle difficult.
- You should be at your home or garage whenever someone comes to check your car.
- You can risk check bounces or destructive finance issues if the potential buyer likes to deal with checks.
- You will have to advertise on craigslist or other platforms, meet every potential buyer and deal with them.
- It could be challenging to sell your car if it still has an outstanding loan.
- You might not get the best deal if you sell the vehicle yourself unless you have done the research work on fair market prices.
To overcome these problems and to help you sell your used car safely, quickly, and hassle-free. Vehicle (auto) consignment services help you with their services.
How do Auto Consignment Service Providers or Used Car Dealerships Work?
You might be familiar with a local consignment shop that takes used jewellery, antiques, art, clothes and other items.
They take your items and put them in their shop, and when they make a sale, they either split the profit with you (or) take a share of a percentage of commission from the selling price.
They mediate the sales process and get the item sold efficiently without burning your time and efforts.
Likewise, Auto Consignors are licensed, bonded, and insured, and the state department of the motor vehicle is approved as used vehicle dealers.
Most of these dealers sell used motorcycles, RVs, Cars, SUVs, etc., whichever state transport department granted a license to them.
Selling through them is safe, quick, effortless, and straightforward.
Every dealer has their fees/commission associated with the car sales.
They can operate their business in these models:
- Charge a flat listing/sales fee
- Charge flat detailing cost plus 3-15% commission on a successful sale.
- Pay you in cash upfront and take ownership of your car. Later Sell your car for a higher price, giving them the desired profit.
- All you to hold onto your car for use until they find a buyer to conduct the transaction.
Dealing with an auto consigner is like hiring a professional real estate sales agent.
The used car dealer handles all aspects of selling your used car at your desired selling price while still making some profit or commission for themselves.
- They would do your car appraisal.
- Do the car inspection.
- They will recommend minor repairs to sell it faster and for a better price.
- They will have a partnership with various websites, where they will list your car under their dealership.
- They can sell the vehicle to buyers from other states at no extra expense from your side.
- They will invest in all sorts of advertising. To ensure that the car gets sold in the determined timeframe.
- They can arrange loans and financing for the potential buyer if the buyer can do some downpayment.
- Your vehicle will reach a broader buyer demographic since it is through the automotive consignment.
- You may get more valuation and sales profit than directly selling to the regular car dealer who will undervalue the car.
Selling through a Used Car Consigner is an easy process.
Step 1: Search for a Used Car Dealership (consignment) near you.
Step 2: Take the car to the dealership for inspection. Get the vehicle appraisal and sign the sales agreement.
Step 3: Pay the consignor fees, if any, as per the deal. Hand over the keys and relax.
Your consignment professional will prepare the car to be sales-ready.
They will advertise it everywhere and contact other partners who can bring potential buyers.
They will handle the documentation, title or ownership change process themselves.
The manager will keep you posted on the updates on your vehicle listing and give you a call once the car gets sold.
If applicable, they will pay off your outstanding loan and obtain title and lien release.
Once your vehicle is sold, the used car dealer will settle & disburse your amount.
The Consigner Completes the title transfer and registration process for you and the buyer.
Thus, the entire process of selling your vehicle gets completed in a hassle-free manner.
At Falcon Motor Group, our professional consigners handle the entire process of selling used luxury and exotic cars in the best way possible.
Check your used car valuation online. Please fill out the form to get a call from our sales executive, who can provide the necessary details.
For further details, please call us on 407-664-1194.