A Car Consignment Form is a legal agreement between a vehicle owner (the consignor) and a dealership or agent (the consignee), granting the consignee the exclusive right to sell the vehicle on behalf of the owner. This form outlines the terms, including the minimum selling price, consignment period, and obligations of both parties, ensuring that the vehicle remains insured and the consignor retains the title until the sale is finalized. Ensure a smooth and secure transaction for your vehicle by filling out a Car Consignment Form, available by clicking the button below.
When it comes to selling a used vehicle, navigating the process efficiently and ensuring that all legal and financial bases are covered is crucial. The Car Consignment Form serves as the backbone of this process for individuals opting to consign their vehicle for sale through a dealer or consignment agent. This form is essentially an agreement between the consignor—that's the vehicle owner—and the consignee, who takes on the responsibility of selling the vehicle. It highlights crucial elements such as the exclusive right to sell, detailed vehicle description, pricing arrangements, and the consignment period. Further, it lays down obligations for both parties regarding insurance, vehicle condition, and warranty, while also detailing the division of proceeds from the sale and the conditions under which the vehicle is offered to potential buyers. Including provisions for repairs, detailed inspections, and additional advertising means, the consignment agreement ensures that both the owner's interests and the vehicle's integrity are preserved. By setting clear terms for the consignment, this form helps mitigate potential disputes and creates a transparent and trusting relationship between the consignor and consignee, ultimately paving the way for a successful and legally sound sale.
USED VEHICLE CONSIGNMENT AGREEMENT
Exclusive listing with the exclusive right to sell
I (We) _____________________________________ the Consignor(s) agree(s) to consign and deliver possession to ________________
___________________________________________at address of _______________________, with telephone number _____________,
Dealer No. __________________, the Consignee, the vehicle described as follows, for the sole purpose of selling the vehicle with a
minimum selling price of $______________. Consignor(s) shall have final approval of any proposed sale of the vehicle.
This agreement is to begin on ______________________ and will terminate on ________________. The terms of this agreement are that
the Consignor shall return the vehicle to the consignor(s), or enter into a new agreement at the termination of this consignment agreement.
Year
Make
Model
VIN#
License Plate #
Odometer
Style
Exterior Color
Actual Miles, TMU, Exempt?
□
Air Conditioning Power Locks
Keyless Entry No. Remotes: __________
Power Windows Power Seats Power Sunroof
Leather – Color: ____________________
Cloth – Color: _____________________
Engine: ____________________________
Transmission: _______________________
AWD
FWD
RWD 4WD Navigation DVD system
AM/FM Cassette AM/FM CD Player AM/FM CD Changer Manuals Maintenance Records Floor Mats
______________________
Consignor(s) warrant(s) that he/she (they) has/have possession of the title or that the title is held by the below listed lien holder and that there are no interests, liens, or claims against the vehicle which are not below:
Name of Lien holder:
Address:
Phone No.:
Account No.:
The Consignor(s) agree(s) that, pending sale, the vehicle’s title shall remain in Consignor(s) name and that theft, fire, comprehensive and liability insurance be and/or must remain in effect during the consignment period.
Agent Name:
Insurance Co.:
Policy No.:
Liability Limits:
Effective:
Expiration:
The Consignor(s) represents and warrants that to the best of the Consignor(s) knowledge, information and belief, that the vehicle has not been involved in an accident. If the vehicle has been in an accident, the Consignor(s) has provided Consignee with the relevant information.
Yes
No
Has this vehicle ever been in an accident?
Has this vehicle ever been in a flood?
Has this vehicle ever had hail damage?
Has this vehicle ever had a branded title?
Is the vehicle currently unable to pass safety or emissions inspections?
If “Yes” checked above, please provide details:
Indicate whether the vehicle is:
Yes Yes
AS-IS - NO WARRANTY
WARRANTY
Condition of Vehicle:
□ Excellent
□ Average
□ Poor
The vehicle requires the following work:
The delivery of this vehicle is on consignment and is not a sale of the vehicle to the Consignee. The Consignee agrees to receive the vehicle in trust and not to permit its use for any other purposes than what is contained in this agreement without express written consent of the Consignor(s).
Consignor(s) hereby agree(s) to the following commission rates as set forth by the Consignee:
Sale Price of Vehicle
Commission/Costs
$0-$_______
$_______
$_______-$_______
$_______ - $_______
$_______ and up
___%
Carfax & NADA reports are included in commission cost. Advertising on Autotrader, KBB, CarGurus, TrueCar, Vast, Edmunds &
CarFax Online are included in commission cost. Cars.Com, Craigslist, Ebay and any other specialty ad site are extra on cars under
$_______. Complete detailing, safety inspection, repair work, financing and offered warranty plans are available at an extra cost and are
not included in the commission fee.
Additional Fees If Applicable:
Safety Inspection/Emission
$___ + Sales Tax (cars/lt trucks)
Finance Facilitation Fee:
Labor Rate
$_____/hour, plus parts
Professional Detail
$_______ & Up
Warranty Plans:
$_____ & up
Upon completion of sale and receipt of a good, negotiable title, the net amount due to the Consignor(s) from the Consignee shall be the gross sale amount less any costs for repairs or detailing previously agreed to by Consignor(s), and commission rate as set forth in this agreement, and further agrees that the Consignee will pay off any existing encumbrances against said vehicle and deduct the same from the net amount due.
If repairs are required before or during the period of consignment, Consignee shall notify the Consignor(s) and shall secure Consignor(s) approval before any work shall commence. All repair costs will be deducted from the Consignor(s) net. If the vehicle is not sold during the specified agreement term, Consignor(s) agree(s) to pay repairs before vehicle is returned to Consignor(s).
In the event the vehicle is sold by someone other than the Consignee during the period of agreement, the Consignor(s) agree(s) to pay the Consignee _____ percent ( ___%) of the price received. In the event a sale is made to a buyer who discussed the vehicle with the
Consignee, then the Consignor(s) agree(s) to pay the Consignee _____ percent ( ___%) of the vehicle’s selling price.
Should the Consignor(s) wish to remove the vehicle from Consignee’s premises, Consignee shall require a minimum of _________ ( __ )
hours’ notice. The vehicle can then be removed between the hours of ______ and ______ pm on weekdays or subject to appointment. All
advertising, detail, repair, inspection, and any other costs incurred while the vehicle was on the Consignor’s premises will be due at the time of removal.
If the vehicle remains unsold and a new agreement is not considered, or if the vehicle has been sold but not removed from Consignee’s premises or if the Consignor(s) or buyer(s) are delinquent in paying fees, Consignee may have the vehicle impounded at the Consignor(s)
or buyer(s) expense without prior notice to the Consignor(s) or buyer(s). Additionally, Consignee may, at any time, demand that the vehicle be removed from Consignee’s premises upon _________ ( __ ) hour notice to Consignor(s).
Consignor(s) hereby promise(s) to defend, indemnify and hold harmless Consignee, its employees agents and assigns from any and all demands, judgments, claims, including reasonable legal and all other expenses actually incurred and paid, incident to any claim whether baseless or well founded by any third party in connection with any automobile taken by Consignee on consignment, including without limitation any claim for taxes by any State of the United States, territory or political subdivision thereof. The indemnification language contained herein shall survive the termination of this agreement,
It is further agreed that the Consignee, its agents or assigns are not responsible for any damage to the vehicle due to fire, accident, theft, vandalism or any cause whatsoever.
Consignor:
Email:
Home Phone
Work Phone:
Signature:
Date:
Consignee on behalf of ________________________:
NOTICE TO CONSIGNOR: Failure of the Consignee to comply with the terms of this agreement may be a violation of stature which could result in criminal or administrative sanctions, or both. If you feel the Consignee has not complied with the terms of this agreement, please contact the Department of Motor Vehicles, Division of Investigations and Occupational Licensing Bureau of Investigations, via the local Department of Motor Vehicles office. The Consignee is the person(s) or dealer who is selling the vehicle(s) on behalf of the Consignor. The Consignor is the person(s) who has given the vehicle to the Consignee to be sold.
Filling out a Car Consignment form is a critical step in consigning a vehicle for sale through a dealership or consignment service. This document outlines the agreement between the vehicle owner (the consignor) and the entity selling the vehicle (the consignee). It covers aspects such as minimum selling price, consignment duration, commission rates, and responsibilities regarding the vehicle's condition and documentation. Ensuring that this form is completed accurately is essential for a smooth, transparent, and legally sound consignment process. Here is a step-by-step guide to completing the Car Consignment form:
Completion of this form ensures that both parties are clear on the terms of the consignment, the status of the vehicle consigned for sale, and the financial and legal responsibilities involved. It’s important to store a copy of this agreement safely, as it may be needed for future reference, especially if any disputes arise.
A Car Consignment Form is a legal document between two parties – the car owner (consignor) and the dealership or consignment shop (consignee) – outlining the terms of consigning a used vehicle for sale. This form grants the consignee the exclusive right to sell the vehicle under agreed conditions, including the minimum selling price, consignment period, and the division of sale proceeds.
Having a Car Consignment Form is important because it clearly outlines the rights and responsibilities of both the consignor and consignee. It ensures that both parties are in agreement about the sale conditions, minimum price, and what happens in various circumstances like damage or an unsold vehicle. This documentation helps prevent misunderstandings and provides legal protection for both parties.
In a Car Consignment Form, you can expect to find the following details:
The minimum selling price is usually determined through a mutual agreement between the consignor and consignee. This agreement is often based on factors such as the vehicle's condition, market value, and any improvements or repairs needed. Consignees may also use industry tools like Carfax and NADA reports to help set a competitive yet fair price.
If the vehicle does not sell within the agreed consignment period, both parties have a few options:
Yes, a consignor can typically retrieve their vehicle before the agreement concludes, but this must be done in accordance with the terms outlined in the form, including providing notice to the consignee within a specified timeframe. However, any costs incurred during the consignment period, such as advertising or repairs, may be payable by the consignor at the time of retrieval.
According to the standard Car Consignment Form, it is the consignor’s responsibility to ensure that comprehensive and liability insurance coverage is maintained on the vehicle throughout the duration of the consignment period. This ensures protection against theft, fire, and other potential damage while the vehicle is in the consignee's possession.
The consignee is responsible for marketing and selling the vehicle under the terms set forth in the agreement. This includes:
After the vehicle is sold, the consignee will deduct any agreed-upon costs and commissions from the sale price and remit the remaining proceeds to the consignor. If there are any existing liens against the vehicle, the consignee will also ensure these are paid off as part of the transaction. The consignor should then receive a detailed accounting, along with the net proceeds from the sale.
When people fill out a Car Consignment Form, it's crucial to avoid common errors to ensure the process goes smoothly. Here is a list of ten mistakes often made:
Avoiding these common mistakes can help ensure a smooth and dispute-free consignment process, protecting the interests of both the consignor and consignee.
When working with a Car Consignment Agreement, several additional documents often play crucial roles throughout the process, ensuring clarity, legality, and mutual understanding between the consignor and the consignee. These documents are essential in facilitating the smooth operation of consigning a vehicle, helping to avoid any potential misunderstandings or disagreements that might arise between the parties involved.
Together, these documents complement the Car Consignment Agreement, providing a comprehensive framework that supports the consignment process. Each document has a specific role, ensuring clarity, security, and compliance with legal requirements, ultimately facilitating a successful and smooth transaction for every party involved.
A Real Estate Listing Agreement: This document shares similarities with a Car Consignment Form, primarily because both serve as agreements that grant an agent or entity the exclusive right to sell an item on behalf of the owner. In real estate, just like in car consignment, the owner agrees on specific conditions under which the property can be sold, including the minimum selling price, the duration of the agreement, and the commission structure for the agent or entity facilitating the sale.
An Art Consignment Agreement: Similar to a Car Consignment Form, this type of agreement involves an artist or owner who hands over their artwork to a gallery or third party to sell. Both documents outline terms regarding the minimum selling price, the consent required from the owner before a sale is finalized, the commission owed to the consignee for facilitating the sale, and conditions ensuring the item remains in the consignor's name until the sale is complete.
A Boat Consignment Agreement: Much like a Car Consignment Form, a Boat Consignment Agreement is a contract between the boat owner (consignor) and a consignment shop or dealer (consignee) who agrees to sell the boat on the owner's behalf. Both contracts specify the minimum sale price, duration of the consignment, commission rates, and the conditions under which the item can be sold, alongside ensuring the item is adequately insured against damage or theft while under consignment.
A Business Equipment Consignment Agreement: This agreement parallels the Car Consignment Form in that a business owner or entity may consign office equipment, machinery, or other business assets to a dealer or third party for sale. Both documents include clauses detailing the consignment terms, such as the minimum acceptable sale price, the duration of the agreement, the commission due to the consignee upon sale, and the requirement that the consigned item remains in the consignor's ownership until a sale is finalized.
When filling out a Car Consignment form, it's essential everyone involved understands what to do and what to avoid to ensure a smooth transaction and agreement between the consignor (the vehicle owner) and the consignee (the entity or individual selling the vehicle). Here are some do's and don'ts to consider:
Following these guidelines can help safeguard both the consignor's and consignee's interests and ensure a transparent and successful car consignment process.
There are several misconceptions about car consignment forms and agreements, despite their common use in the selling of vehicles. Understanding these misconceptions can clarify the responsibilities and expectations involved in consigning a vehicle. Here are ten misconceptions detailed briefly:
Misconception 1: The consignment form is a simple permission slip for the consignee to sell the vehicle. This misunderstanding overlooks the comprehensive nature of these agreements that cover terms including but not limited to pricing, commissions, insurance, and vehicle condition disclosures.
Misconception 2: The consignor loses all control over the selling process once the vehicle is listed. In truth, consignors typically have final approval over any proposed sale, ensuring they remain a key decision-maker in the process.
Misconception 3: The vehicle's title must be transferred to the consignee during the consignment period. The agreement usually stipulates that the title remains in the consignor's name until the vehicle is sold.
Misconception 4: Insurance is the consignee's responsibility. Although the consignee may provide insurance for their premises, the agreement explicitly requires that theft, fire, comprehensive, and liability insurance remain in effect and be the consignor's responsibility during the consignment period.
Misconception 5: The consignor must accept the first offer made on the vehicle. Consignors often have the right to approve or reject offers, giving them control over the acceptance of the final sale price.
Misconception 6: All costs associated with vehicle repairs and detailing are included in the consignment fee. Actually, these services can be extra and their costs are typically separate from the consignment commission.
Misconception 7: Advertising costs for selling the car are always borne by the consignee. The agreement clarifies that while many advertising channels are covered by the consignment fee, certain premium listings or specialty advertising sites may incur additional charges.
Misconception 8: The consignor can retrieve their vehicle at any time without notice. Removing a vehicle from consignment usually requires notice and may be subject to the consignor paying for accrued costs like advertising or repairs.
Misconception 9: Consignment agreements guarantee the sale of the vehicle. These agreements provide a framework for attempting to sell the vehicle, but they cannot guarantee a sale within any specific timeframe.
Misconception 10: The consignee assumes all risks, including liabilities related to the vehicle’s condition. In fact, the consignor must disclose the vehicle’s condition accurately and may need to indemnify the consignee against specific claims related to misrepresentation or undisclosed issues.
Understanding these key points can help both consignors and consignees enter into agreements with clear expectations and responsibilities, potentially avoiding misunderstandings and fostering smoother transactions.
When it comes to navigating the waters of selling a vehicle through consignment, a clear understanding of the process can ensure a smooth and beneficial transaction for both the consignor and the consignee. The Car Consignment Form plays a pivotal role in this process. Here are some key takeaways for anyone considering consigning a car:
Understanding these key elements within the Car Consignment Form can significantly contribute to a consignment process that is not only less intimidating but also more effective and transparent. This form serves as a contractual backbone that ensures both parties are aware of their rights, responsibilities, and expectations throughout the consignment period, leading to a more satisfactory and secure transaction.
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