In a nutshell, auto consignment is assigning a license auto dealership to sell your car for you. It is a popular growing trend. Eliminating the hassles that come with a private car sale. Making car consignment well worth considering. 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, along with automotive promotional knowledge, allows for successful car advertising.
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 vehicle. Then, ask you questions about its history, check out the mileage, assess the condition, and marketability. Finally, they present you with their valuation.
With a traditional trade-in or direct sell to a dealer, this valuation will be the price they will pay for your car on the spot.
In the case of a vehicle consignment, 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 contrast, the dealer’s price represents the “Wholesale” price for your car.
2. Marketing Your Car to Buyers
Marketing is the key to selling your car quickly at the right price. Evans Auto Brokerage professional customer service team understands how to price your car and provide a unique vehicle description to get people to inquire. Additionally, Evans owns a high traffic website and works with a network of lead generation marketing tools to advertise and sell your vehicle.
Before we offer your car for sale will clean and detail it to get your vehicle showroom-ready. Next, we take photos to show your vehicle’s best features. Our experienced team ensures that your car is ready to be seen by as many people as possible to attract the perfect buyer as quickly as possible. The goal is to sell your vehicle quickly at the best price possible. 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.
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. We show you comparable cars in our market and help guide you to a price that will work for you and be competitive. Most importantly, our Auto Broker will walk you through our consignment agreement, explaining fees and timelines. Ensuring you have a full understanding of our consignment service.
4. Selling, Negotiating, and Paperwork
Above all, our vehicle consignment services’ most significant benefit is handling the actual sale transaction.
We will handle the entire selling process. Starting with marketing, inquiries, all test drives, price negotiations, and buyer financing requests. Above all, 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 buyer negotiations in our capable hands gives buyers and sellers enormous comfort, as negotiating can be difficult. The buyer and seller’s safest process 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 convenient and efficient for vehicle buyers.
Safety is a crucial concern in private party car sales, and Evans Auto Brokerage protects sellers and buyers alike. We can also offer products and services that many buyers need but often cannot purchase independently 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. 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 cannot achieve independently. Consigning maximizes the sale price while removing the traditional danger and hassle of the sale-by-owner market.
Free Consignment Consultation
If you think auto consignment is for you, please fill out the form below, and a team member will contact you. We’re happy to answer any questions you have about getting the most from your car consignment!