Pros and Cons of Consigning Vehicles
Listing your vehicle or consigning your vehicle with someone can be a great way to sell your vehicle. When you consign a vehicle there are many things to consider.
- You don't have to deal with shoppers or casual lookers.
- You don't have to struggle with negotiating on the price.
- You don't have to deal with a trade.
- You don't have to advertise it for sale.
- You don't have to be involved with any financing.
- You don't lose your free time, meal time or family time talking to a possible buyer.
- You just pick up your check or lose that car payment when it sells.
- You need to have everything safety checked, all repairs made and lot ready before it can be sold.
- You need to have the vehicle professionally cleaned inside and out. Then occasionally touched up depending on weather etc...
- You need to have the vehicle competitively priced with the market and the consignee's inventory. Then pay a fair commission, fee or % of the sale at the time it sells.
- You lose the use of the vehicle while it's on consignment.
- You need to keep it insured while it is on consignment.
Now comes the rest of story.
Consigning a vehicle is normally a super way of selling a vehicle because of the hassle free experience. Just understand there is more to consigning a vehicle than just handing over your keys. You need to be dealing with a consignee that is reputable. Meaning Honest and Open with you. Integrity of both you the consignor and the consignee is a must.
When you consign a vehicle the price you ask has to be competitive with the market and the consignee's inventory. If it's not it won't sell or when a perspective buyer looks at the vehicle the sales person will tell them "yes it's nice but you can buy this one over here for a lot less money". The sales person is just trying to take care of his/her customer so they will come back or send others to buy from them later on.
Consigning a vehicle is a great way to get it sold and the pros normally out weigh the cons. Depending on the area you live in, the vehicle your selling and the price category of your vehicle it can take on the average about 30 to 60 days to sell. If your lucky and you have the vehicle fixed up, priced right and looking good it should sell fairly quick.
Just be aware of all the factors and the reasoning behind those factors and decide what works best for you.
Thank you for your time. From your friends at Coliseum Motors.