Auto Consignment is a popular growing trend, based on the same simple model. The hassles that come with private car sales make car consignment well worth considering, however as you might guess, having someone sell your used car is a lot different than having them sell your old lawnmower. To professionally market a high priced item such as a car requires significant prep work, product knowledge, skills to facilitate negotiations, the ability to meet buyers’ needs for financing and service contracts, and a variety of other factors that complicate the sale process.
Below are the top items a quality auto consignment broker will review with you.
Auto Consignment Checklist
1. Determining Your Car’s Market Value
No matter how you decide to sell your car, the process always begins by conducting an appraisal. All auto professionals will start by looking over the car, asking you questions about its history, checking out the mileage, assessing the condition and marketability, and present you with their valuation.
In the case of a traditional dealer, this valuation will be the price they will pay for your car on the spot.
In the case of a vehicle consignment store, the valuation is the price they believe they can sell your vehicle for in the market. The consignment price is typically higher than the dealer’s offer because it represents what many refer to as the “Private Party” price for your vehicle – in other words, what another private buyer will pay for your car whereas the dealer’s price represents the “Wholesale” price for your vehicle.
2. Marketing Your Car to Buyers
Marketing is the key to selling your car quickly and at the right price. Evans Auto Brokerage has a professional customer service team that understands how to price your car; it’s own high traffic website and a network of lead generation marketing tools to help advertise and sell your vehicle.
Before we offer your car for sale will clean and detail it to get your vehicle showroom-ready then takes photos to show your vehicle’s best features. Our experienced team wants to ensure that your car is ready to be seen by as many people as possible so that we can attract the buyer as quickly as possible Before consigning your car, talk to any of our auto brokers they will be happy to explain the entire process so you fully understand the service we will provide. Using Evans Auto Brokerage car consignment services offers greater visibility and broader access to buyers than slapping a “For Sale” sign in your rear window and parking it on a busy street.
3. Setting the Right Price
Speaking of pricing, this is an area where consignment stores may vary most. Some stores will offer pricing guidance and advice but leave the ultimate pricing decisions in your hands. Others will require that you follow a strict pricing schedule set by their staff. We do it differently here at Evans Auto Brokerage, we show you comparable cars in our market and help guide you to a price that will work both for you and be competitive with the market. Our Auto Brokerage will walk you through the fees and go over our consignment agreement with you, leaving you with a full understanding of our consignment service.
4. Selling, Negotiating and Paperwork
Above all, the most significant benefit of our vehicle consignment services is that we handle the actual sale transaction.
Evans Auto Brokerage will handle, marketing, inquiries, all test drives, any price negotiations, buyer financing requests, lien payoffs, and DMV paperwork. These essential pieces to car sales can suck up a great deal of time and are best left to experienced consignors.
Leaving the buyer negotiations in our capable hands, gives huge comfort to buyers and sellers alike, as negotiating with private parties can be difficult. The safest process for the buyer and seller is to allow Evans Auto Brokerage to handle all negotiations, payment processing, and DMV paperwork.
5. Transferring Value to Consignment Car Buyers
In conclusion, while consignment can maximize the proceeds and speed of sale for the seller, it is also a convenient and efficient option for vehicle buyers.
Safety is a key concern in private party car sales, and Evans Auto Brokerage protects sellers and buyers alike. We also have the ability to offer products and services that many buyers need but often cannot purchase on their own in the private market. A few of these services include:
- Vehicle Financing: Consignment stores may have the ability to arrange purchase financing for buyers.
- Extended Warranties: Consignment stores can help buyers eliminate much of the risk of buying a used car by offering aftermarket service contracts, which provide many buyers peace of mind as they drive off the lot.
- Shipping: Some consignment shops can ship cars directly to buyers, expanding the seller’s customer pool to shoppers nationwide.
Again, these valuable options help both sides of the transaction. In addition to the buyer benefits outlined above, warranties, financing, and shipping make sales go more smoothly and quickly and are difficult if not impossible for sellers to provide on their own.
Auto consignment offers an attractive option for vehicle owners who would like to get more money for their car than the dealer trade-in price, as the vehicle will be marketed professionally without the traditional hassle and frustration of trying to sell it yourself. The consignment model is pretty simple – it’s your car, but someone else sells it for you. A good auto consignment store brings a level of professionalism and service that most individuals are unable to achieve on their own, maximizing the sale price while removing the traditional danger and hassle of the sale-by-owner market.
If you think auto consignment is for you, please fill out the form below and an Evan Auto Brokerage team member will contact you. We’re happy to answer any questions you have about getting the most from your car consignment!