Selling a car on consignment is one of the two-sided selling avenues in the car-selling world. This is because it entails you, as the seller, involving another party to aid in the sale process, from advertising the car to negotiating with potential buyers and completing the sale if presented with a reasonable offer. The sale, of course, can’t happen without your authorization. What do you stand to gain from car consignment? The convenience of having another party handling the sale is an obvious advantage complemented by leveraging the consignment company’s expertise and buyer network. However, the benefits go beyond those. But before we tell you more, are you planning on selling an exotic car in Houston, Texas? Exotic Car Trader’s remote listing allows you to sell your car from anywhere in the state. The best part is that it’s more straightforward and convenient than traditional consignment. How does car consignment work?
Despite its professional setting, car consignment is designed to be hassle-free and uncomplicated, hence the convenience of using it to sell your car. But before consigning your car, there are two things to consider: the car you’re selling and the consignment company. Knowing your car goes beyond the basic specs. The more details you have, the better the consignment company can price and present it. It also gives you a rough estimate of what to expect after the sale. Selecting a reputable consignment is equally important, but you must also consider the type of cars they specialize in. For example, if you choose to go for Exotic Car Trader’s remote listing to sell your exotic car, you’re guaranteed that we’ll market it appropriately since exotics and other high-end cars are our specialty. That being out of the way, here’s an outline of how car consignment works.
The consignment company will provide an estimated selling price, which you’ll have a say in. This is why you need to understand your car first, knowing its market value is based on its make and model, selling points, and drawbacks.
Agreeing to the selling price and entering into an agreement prompts the consignment company to start the car’s marketing. Each car consignment does it in their own way, but in most cases, the car will be listed online just as we do when you decide to skip consignment and sell your car with Exotic Car Trader.
Once the car is listed for sale, buyers start making inquiries. Some might be the same tire kickers you’d encounter when selling privately, while others will make serious offers. The consignment company notifies you of the offers they get for your consideration and will not sell the car unless you approve an offer. Should you decide to accept any, they initialize the sale process and handle all the paperwork and funds transfer.
After the car is sold, the terms of the consignment agreement are resolved, which means the consignment company transfers the sale proceeds minus the previously agreed upon commission plus other fees as per the agreement.
Car consignment offers several benefits for you as the seller and buyers who place greater trust in consignment companies than individual sellers. The following are some of the major benefits you can experience by choosing to consign your car.
Car consignment is basically selling a car through a third party that can be termed as professionally using a broker. The consignment agreement outlines the terms of the consignment, which protect you as the owner in case of any disputes. However, this doesn't mean that the consignment company isn’t protected.
By selling a car on consignment, you leverage the consignment company’s expertise and guidance, which can lead to a potentially higher selling price and hastens the sale process.
Unlike selling privately through the relevant avenues, car consignment eliminates tire kickers and lowball offers. Most buyers reaching out to consignment companies are committed, leading to potentially higher selling prices.
Picking the right consignment company is crucial for a seamless experience. Besides choosing one that specializes in the type of car you’re selling, you also need to evaluate the services each consignment company offers. Assistance throughout the sale process is one of the services to prioritize. The location might not be necessary, but you need to consider it for convenience purposes. For example, if you’re planning on consigning a car in Houston, Texas, a local consignment company would work best. These are just some of the factors to consider. If they are too much, Exotic Car Trader is here to lend a hand. But not in the way that traditional car consignment works.
With our remote listing, your involvement in the sale process is minimized. However, this doesn’t mean your influence diminishes throughout the sale process, as you still have a say in the car’s pricing and who you want to sell the car to. Furthermore, you will enjoy added convenience as you can list your car with us from wherever you are, whether at home or on holiday. We’ll even send professional photographers over. Our fees are also more competitive than traditional consignment options, and any additional costs beyond the listing fee will be communicated to you upfront. Ready to sell your exotic car smarter? Visit our website for a full catalog of our services.
Thinking of selling your car in Houston, Texas? Car consignment offers a more convenient and secure way to sell a car, but there are more reasons why you should go for it. The hassle-free selling experience and the expertise and reach that car consignment companies offer are enough reasons to go for it. If the consignment process seems too complicated, Exotic Car Trader’s remote listing simplifies the selling process and offers similar, if not better, benefits than traditional car consignment.
Exotic Car Trader is the fastest growing marketplace built specifically for automotive enthusiasts. Click below to learn how you can sell your car with us.
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