How Automotive Consignment Works in 3 Easy Steps

What is Auto Consignment?

Most people are familiar with the concept of using a local consignment shop to sell their used furniture, clothing, jewelry, art, etc. Take your items to the local shop and when they sell, you split the sale money. Automotive retail consignment is basically the same except you take your car to an automotive "Consignment Pro." The term Consignment Pro is used here to mean a licensed, bonded, insured, state-approved motor vehicle dealer (dealership) that will market and sell your vehicle for you alongside their vehicles for retail value and take a reasonable commission when it sells.

Another helpful way to think of automotive Consignment Pros is like the common practice of hiring a professional real estate agent to sell your house for you.

The Consignment Pro dealer will typically handle all aspects of inspecting, appraising, preparing, advertising and selling your vehicle, which is a rather large list and undertaking. The retail consignment sale option will always yield you more money than a dealer trade-in or instant cash offer. Generally, retail consignment will even get you more than selling it yourself, but without all the hassles and dangers commonly experienced with the private sale option.

Each Consignment Pro dealership offers a slightly different approach to consignment, but generally their compensation consists of a fee(s) or commission or some combination of fees (upfront enrollment) and commission (when your vehicle sells).

Automotive retail consignment is a simple, proven, and valuable selling option.  Hand the keys to your local Consignment Pro dealer then sit back and collect your money when it sells. It all starts by using Retail My Ride to find and connect with a trusted network consignment dealership near you that specializes in selling your type of vehicle.

Three Easy Steps

🔎 Step 1 - Find and Connect with a Trusted "Consignment Pro" Dealership

Use RetailMyRide.com to find an automotive Consignment Pro (dealership) near you that specializes in selling your type of vehicle. You can:

• Search for a consignment dealership by Zip code, City, County, State, and filter your search by vehicle type, including cars, trucks, SUVs, vans, classics, exotics, antiques, vintage, custom/mods and commercial vehicles

         Or

• Complete our no obligation online Quote Request form and one of our consignment experts will contact you to discuss your vehicle and answer questions before connecting you with the network dealership.

🚘 Step 2 - Take Your Car to the Dealership for Evaluation

Meet with the Consignment Pro dealership directly to discuss your vehicle, their consignment program and enroll your vehicle into their program. During your dealer appointment, your Consignment Pro dealership will:

• Complete a vehicle inspection
• Appraise your vehicle and consult with you about competitive market pricing
• Discuss and recommend any pre-sale reconditioning to maximize the resale value
• Sign a consignment agreement

🍹 Step 3 - Sit Back and Relax

Once your vehicle is enrolled in their program, your Consignment Pro dealership will generally handle everything:

• Prepare, Detail, and Recondition your vehicle
• Photograph your vehicle
• Advertise and list your vehicle on multiple websites for maximum exposure
• Display and market your vehicle on their property
• Supervise test drives
• Handle all negotiations with prospective buyers
• Accept buyer trade-in to faciliate sale of your vehicle
• Offer financing options to buyer if needed
• Offer warranty products to the buyer if requested
• Certify and guarantee buyer funds

Once your vehicle sells, your Consignment Pro dealership will:

• Pay off your outstanding loan and obtain title and lien release, if applicable
• Pay you the proceeds of sale as agreed, generally within 24-48 hours of funding
• Complete title transfer and registration process for you and the buyer

Get a Free Quote:

What is My Vehicle Worth on Consignment?

Related Articles:

Which Vehicles Are Best Suited for Retail Consignment?

How to Sell Your Car Safely During and After COVID-19

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