Used Cars (Consigned)
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With the purchase of over 20 million used cars annually, the demand for them certainly exists.
Whether it be because of the ever-rising costs of new cars or soley for obtaining a form of basic
transportation for a new household driver, Americans are showing that now more than ever, they are
willing to obtain reliable pre-owned transportation at a decent price.
For the current car owner who realize this, and wants to capitalize on it by selling his/her car,
consignment remains one of the best options available.
How Consignment Works
One of the best ways to get the most money for your used car is to put it on Consignment for sale at
a dealership. The vehicle must be in good working condition, and in most cases, the vehicle must be
brought in or driven to a participating dealerships. The owner then specifies the asking price for
the vehicle, usually according to the "Kelly Blue Book". The dealer will then evaluate the vehicle as
it must must pass all required point tests. If all is fine, the signee of the consignment agreement
(seller) pays nominal fee (usually 6%-10%) in an attempt to have the dealer sell the vehicle for a certain percentage
more than that of the original asking price. As soon as the vehicle is sold, the signee is
immediately notified and issued a check for the exact amount of his/her original asking price.
He/She must then come into the dealership to pick up the check and sign the final papers.
Consignment sales are a nice alternative to trading a vehicle. With a consignment sale, the dealership retains
control of the sale of your vehicle, allowing it to be advertised, shown and eventually sold in a reasonable amount
of time (usually 60 days) while providing the seller with the opportunity to gain a considerable amount of profit.
Trade It In or Sell It?..How to Get Rid of Your Old Car
Kelley Blue Book
