The Benefits Of Selling Your Car Through A Consignment Dealer
Jul 05, 2018 10:21
Auto consignment is a relatively new service – so you may not know much about what it is, or how it works. Essentially, auto consignment dealers take over the process of selling your car for you – for a fee.
They handle all of the marketing, paperwork, and other details for you. This allows you to sell your car without the hassles of a normal private sale – including flaky buyers, paperwork difficulties, and more.
A consignment sale allows you to get more money for your car than you would if you traded it into a dealership – and is easier than selling privately. If you’re trying to sell a car on your own, using a consignment dealer instead can have a number of benefits. Here are a few of them.
1. Financing May Be Available For Buyers
One obstacle that faces owners of valuable used cars on the private market is the inability for a buyer to get financing for a private sale. No bank or credit union will provide financing for a car that’s being purchased from a private individual.
This means that, unless your prospective buyers have quite a bit of cash on-hand, you may have a hard time selling your car directly to them. They’ll need to pay outright in cash or with a cashier’s check.
However, consignment dealers often work with financial institutions to obtain financing for buyers. This means that, if you sell a car with a consignment dealer, you will have a much larger pool of potential buyers – because they won’t need to drop $10,000-$20,000 in cash for a car.
2. You Get A Free, Informed Valuation For Your Car
When you take your car to a consignment dealer, the first thing they will do is take a look at its condition, mileage, service records, CarFax, and other information to determine its true value, and what they can sell it for.
Usually, this price will be thousands of dollars higher than a dealer’s “trade-in” price. It will be much closer to the true value of the car – meaning you’ll get much more money for the vehicle.
3. Your Car Will Be Marketed Professionally
Putting up listings on websites like Facebook, Craigslist, Cars.com, AutoTrader, and eBay Motors can be extremely time-consuming – and so is interacting with potential buyers.
A consignment dealer can take care of every aspect of marketing your vehicle. From taking pictures to uploading descriptions and answering buyer questions, they do it all.
4. The Sales Process Is “Hands-Off”
Selling a car on your own means you’ll have to take time to meet with buyers, have your car inspected, and let them take it on a test drive. This means you may need to miss work, or even arrange for weekend visits to sell your car.
But at a consignment auto dealer, you don’t need to worry about this type of customer interaction. You keep your evenings and weekends free, while they show your car to prospective buyers.
5. You Don’t Need To Worry About Negotiations Or Paperwork
This is probably the biggest benefit of a consignment sale for your vehicle. They can handle buyer inquiries, DMV paperwork, negotiation, transfer of title, receipt of payment, and every other part of the process.
This ensures that you don’t get ripped off, and that you don’t have to worry about making your personal information available to anyone who wants to buy your car. This makes the process safe and secure.
Consider A Consignment Sale For Your Car – And Enjoy These Benefits
While they do take a commission on the sale price of your car, you can still make thousands of dollars when selling your car on consignment, compared to a trade-in. Not only that, you avoid the hassles of a private sale – and can be sure that you’ll get great offers for your vehicle.
So don’t trade in your car, and don’t deal with low-quality buyers when trying to sell on the private market. Get your car appraised for a consignment sale today, and you’re sure to benefit!
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