Car Consignment Dealers

In car consignment, there are typically three parties involved: you, the car owner, the consignment party, and the buyer. The consignment party is usually a company specializing in car consignment, and in some cases, it can be a dealership. To understand how dealerships handle consignment, it's important first to understand what consignment is, how it works, and what its key benefits are. So, what is car consignment? It's when you entrust your vehicle to a third party to sell on your behalf. This includes everything from marketing the car to conducting viewings and negotiating with potential buyers. One of the main advantages is leveraging the consignment party's expertise, which can result in wider exposure, a higher selling price, and reduced risks such as scams or frauds often associated with private sales. Additionally, convenience is a major benefit, as the consignment party manages the entire process, including advertising, which can be time-consuming if you're selling the car yourself. Ready to sell your car on consignment through a dealership? Let's get into how you do that.

How Do Dealers Handle Car Consignment?

Selling a car on consignment through a dealership is very similar to selling through a consignment company, with only a few variations that are dependent on the dealership you choose. Here's a breakdown of how it works.

1. After settling on a dealership based on its reputation and customer ratings, you might have to bring your car to them for assessment, which will help set a price. The car's market value and spec will also be considered when the price is set.
2. Once everything checks out, you'll sign a consignment agreement outlining the consignment terms, such as the selling price you settled on, the consignment period, and the consignment fees to be paid at the end. The consignment fee is usually a flat fee or a percentage of the final selling price as a commission.
3. The dealership might ask to keep their car on their premises as one way to market it, but in most cases, the car will be listed online on car-selling platforms or social media. Most dealerships will provide photography services for photos that will go on the listing. We also do that at Exotic Car Trader, but we'll touch on that later.
4. Dealerships usually have vast networks of buyers; in some cases, they'll agree to consign the car with several buyers lined up. They'll negotiate with interested buyers on your behalf and will let you know of decent offers as they come in.
5. Once you settle on an offer, the sale is finalized, and the dealership handles all the paperwork. You'll then receive the sale proceeds minus the dealership's commission or fees.

See, it's that simple. But there's one question: Should you sell your car to a dealership or consign it?

Should You Sell Your Car To A Dealer Or Consign It?

With dealerships that offer consignment services, you can sell the car to the dealership. Doing so allows you to walk away with payment after the car is assessed, and the certainty of a quick sale can be quite enticing. However, consigning the car can fetch a higher price than selling directly, especially if it's a high-end or low-depreciating car. So, selling the car to a dealership is the way to go if you want quick cash, and consignment is the best option if you prefer a higher payout over a quicker sale.

How Exotic Car Trader's Remote Listing Service Is Better Than Car Consignment

Our remote listing service offers a hassle-free way to sell your car, much like dealership consignment, but with added perks. One of those perks is that you can sell your car from anywhere and get to use the car during the sale process. Don't have enough time on your hands? We'll handle everything, including taking professional photos and creating a listing description that best showcases the car's best features when it goes up for sale on our website. But we don't stop there. Your car will also be listed on partner websites such as CarGurus, eBay Motors, Cars.com, and Kelley Blue Book. For classic cars, we've also partnered with Hemmings and Autotrader Classics, which are some of the platforms that showcase classics best. Already convinced that you should sell your car through us? Visit our website to learn more.

Final Thoughts

Dealership consignment allows you to tap into professional networks, enjoy hassle-free negotiations, and ultimately secure a higher selling price. The only drawback is that sometimes it can be inconvenient when you are required to visit the dealership physically. With Exotic Car Trader, you don't have to do that. You can sell your car from anywhere while retaining full use of it during the sale. Ready to sell your car with us? We're only a call or an email away.