Skip to main content

What if I still owe money on my vehicle?

You should consult with your Consignment Pro to get their specific answer to this question. However, it is usually okay as long as the amount you owe (bank payoff) is not significantly more than your vehicle's retail consignment value minus their consignment fee(s). Once your vehicle is sold, your Consignment Pro will pay your lienholder directly from the sale proceeds and give you a check for any difference. If you owe more than your vehicle's retail consignment value (called Negative Equity or Underwater), many Consignment Pros will still allow you to enroll in their program, but may require you to place the estimated difference/shortfall in escrow at time of enrollment.

You might be interested in reading: Negative Equity Auto Loan? Discover How to Get Your Head Above Water

Find a Consignment Dealership
Search FAQs
Ask a Question
Share  this on:
Retail My Ride
Retail My Ride is the best place to find licensed automotive dealers who will sell your car, motorcycle, or RV for you on consignment. Hand them your keys, then sit back, relax and collect more money when it sells. Get retail value for your vehicle using auto consignment.

Retail My Ride is an all-in-one site for learning how to use professional consignment to get the most money with the least hassle when selling your car, motorcycle, or RV. Browse our collection of Articles, Common questions, and Testimonials. Search our national directory of consignment dealerships by zip code, city, county, or state to find a Consignment Pro near you that specializes in selling your type of vehicle. Learn more About Us.