A Car Consignment form is a legal document that outlines the agreement between a vehicle owner (the consignor) and a dealership or agency (the consignee) to sell a vehicle on the owner's behalf. This agreement grants the consignee the exclusive right to sell the vehicle under specified conditions, including the minimum selling price, while detailing the obligations and rights of both parties throughout the consignment period. If you're considering consigning your car for sale, understanding and filling out this form accurately is a crucial first step. Click the button below to get started on filling out your Car Consignment form.
Entering into a Car Consignment Agreement is a significant decision for vehicle owners looking to sell their used vehicles through a third party. This form details an exclusive arrangement where the vehicle owner, or Consignor, entrusts their vehicle to a dealer or Consignee, granting them the exclusive rights to sell the vehicle within a specified period. This comprehensive agreement outlines various critical aspects, including the minimum selling price set by the Consignor, who maintains final approval over any sale proposals. The document describes the vehicle in question exhaustively, covering everything from its make and model to specific features and the condition of various parts. Additionally, it addresses important legal considerations such as the possession of the title, any existing liens, and the requirement for the vehicle to be insured throughout the consignment period. The Consignor also makes representations regarding the vehicle's history, including any accidents or damage. Furthermore, the agreement delineates the financial aspects of the consignment, specifying commission rates, additional fees for services like advertising and detailing, and conditions under which the Consignor would reimburse the Consignee for repairs or other costs incurred. It also covers scenarios in which the vehicle may be sold by another party, the protocol for vehicle removal, and indemnity clauses. This agreement not only clarifies the roles and responsibilities of both parties but also seeks to protect their interests, making it an integral document in the consignment process. Ensuring a clear understanding of its terms is pivotal for a smooth and transparent transaction between the Consignor and the Consignee.
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.
After deciding to consign your used vehicle through a dealer, you'll need to thoroughly fill out the Car Consignment Form. This form is crucial for documenting the agreement between you, the consignor, and the dealer, the consignee. It outlines the terms of the consignment, including the responsibilities of both parties, the details of the vehicle being sold, and any commissions or fees associated with the sale. Completing this form accurately is essential to ensure a clear understanding and to help protect your interests throughout the consignment process.
Once the Car Consignment Form is filled out and submitted, the vehicle will be officially on consignment. The dealer will then begin the process of marketing and selling the vehicle based on the terms outlined in the agreement. It's important to stay in communication with the consignee throughout this period to remain informed about the status of the sale and any potential offers from interested buyers. Remember, the consignor has the final approval on any proposed sale, ensuring they are satisfied with the outcome.
What is a Used Vehicle Consignment Agreement?
A Used Vehicle Consignment Agreement is a contract between two parties: the consignor, who wishes to sell a used vehicle, and the consignee, such as a dealer or brokerage, who agrees to sell the vehicle on behalf of the consignor. This document outlines the terms under which the vehicle will be sold, including the minimum selling price, commission rates, and the responsibilities of each party during the consignment period.
How does consignment work in terms of vehicle possession and title?
During the consignment period, the physical possession of the vehicle is transferred to the consignee, who holds it for the sole purpose of selling it. Despite this transfer of possession, the title of the vehicle remains in the consignor's name until the sale is finalized. The agreement specifies that the vehicle must be insured against theft, fire, and liability by the consignor throughout this period.
What happens if the vehicle requires repairs during consignment?
If the vehicle necessitates repairs while it is consigned, the consignee is responsible for informing the consignor and obtaining their approval before initiating any repair work. The costs associated with these repairs are ultimately deducted from the net amount due to the consignor from the sale of the vehicle. Should the vehicle not sell within the agreed-upon period, the consignor is required to cover the repair costs before the vehicle is returned to them.
Are there any additional fees involved in the consignment process?
Yes, besides the main commission costs, there may be other fees related to the consignment process. These can include costs for safety inspections and emissions testing, professional detailing, advertising beyond the included platforms, and even warranty plans if selected. The agreement outlines these costs, and it's important for the consignor to review and understand them before entering into the consignment.
What protections do consignors have in this agreement?
The agreement provides protections to consignors by requiring the consignee to act in their best interest during the consignment. Consignors have the final approval on any proposed sale to ensure the selling price meets their minimum requirement. Additionally, the consignee is responsible for paying off any existing encumbrances on the vehicle from the sale proceeds. To further safeguard interests, the agreement also includes indemnification clauses to protect the consignor from potential claims or liabilities arising from the vehicle's consignment.
What should a consignor do if they believe the consignee has violated the agreement?
If a consignor suspects that the consignee has not adhered to the terms laid out in the consignment agreement, they are advised to contact their local Department of Motor Vehicles, specifically the Division of Investigations and Occupational Licensing Bureau of Investigations. This action can help address and rectify any issues, potentially avoiding criminal or administrative sanctions against the consignee for non-compliance with the agreement's terms.
When filling out a Car Consignment Form, paying attention to every detail is crucial. However, some common errors can easily be avoided. Here are four mistakes many people make:
Not double-checking vehicle information: It's essential to ensure that all vehicle details are correctly filled out. This includes the year, make, model, VIN, license plate number, and odometer reading. Incorrect information can lead to legal issues or delays in selling the vehicle.
Omitting details about the vehicle's condition: Being transparent about the vehicle's condition, including any accidents, damage, or mechanical issues, is vital. Failure to disclose such information can result in disputes with the consignee or potential buyers, potentially jeopardizing the sale.
Forgetting to list any liens on the vehicle: If there are any liens against the vehicle, these must be clearly listed in the form. Neglecting to do so can complicate the sale process, as clear title to the vehicle cannot be transferred to the buyer until all liens are satisfied.
Ignoring the consignment agreement's terms: The consignment agreement outlines important terms, including the consignment period, commission rates, and what happens if the vehicle does not sell within the agreed timeframe. Not thoroughly reviewing and understanding these terms can lead to misunderstandings or financial losses.
Avoiding these mistakes not only smooths the consignment process but also helps in establishing a transparent and trustworthy relationship between the consignor and consignee. Always take the time to review the form and seek clarification if any part of the agreement is unclear.
When engaging in a car consignment, several documents complement the process, ensuring a smooth and secure transaction for both parties involved. These documents play a pivotal role in establishing the terms of the agreement, outlining the responsibilities of each party, and providing legal protection. Here is a list of documents often used along with the Car Consignment form:
Together, these documents form a comprehensive framework that supports the integrity of the car consignment process. By meticulously preparing and reviewing these documents, both consignors and consignees can ensure a mutually beneficial and legally sound transaction. It's essential to understand the purpose and necessity of each document to navigate the consignment process effectively and protect the interests of all parties involved.
The Car Consignment Form is a pivotal document when it comes to selling a vehicle on consignment, laying the foundation for a legal agreement between the owner (consignor) and the entity selling the vehicle (consignee). There are several documents similar to the Car Consignment Form, each serving a distinct purpose but sharing common features regarding agreements, responsibilities, and transactions:
Each of these documents, while tailored to different items or services (vehicles, real estate, financial services), shares the core function of formally detailing an agreement between parties, specifying terms, responsibilities, and the nature of the transaction involved.
When filling out a Car Consignment form, attention to detail and accuracy are paramount. Here are essential do's and don'ts to consider:
Adhering to these guidelines can help ensure a smooth and successful car consignment experience.
When it comes to car consignment, there are many misconceptions that can lead to confusion for both consignors and consignees. By addressing these false beliefs, individuals can make better-informed decisions when entering into a car consignment agreement. Here are seven common misconceptions explained.
In reality, consignors typically have the final approval of any proposed sale price, ensuring they have a say in the final deal.
This is not true. The title often remains with the consignor until the sale is finalized, safeguarding the consignor’s ownership rights.
While some consignees might cover specific costs, the agreement usually specifies that the consignor is responsible for repair costs, especially if the consignor agrees to such repairs.
Contrary to this belief, if the vehicle does not sell, the consignor may still be responsible for any agreed-upon repairs or other costs incurred during the consignment period.
Consignees facilitate the sale by marketing and showing the vehicle, but they cannot guarantee a sale within the consignment period.
Fees can vary significantly based on the consignee's services, market value, and the work required to sell the vehicle. It is always best to clarify fees before entering into an agreement.
While consigning a vehicle can often result in a higher sale price due to the consignee's efforts to market and sell the car, it is not guaranteed. Market conditions, the vehicle's condition, and the consignee's effectiveness all play roles in the final sale price.
Understanding these misconceptions can help both consignors and consignees navigate the process of car consignment more effectively, ensuring a smoother transaction for both parties involved.
When entering into a Car Consignment Agreement, it's crucial to grasp its implications for both the consignor and the consignee. This document outlines the terms, conditions, and understanding between the person who owns the vehicle (the consignor) and the entity that will be selling the vehicle on their behalf (the consignee). Here are nine key takeaways everyone should be aware of when filling out and using a Car Consignment form:
Comprehending these elements of the Car Consignment form is vital for both parties to foster a transparent, equitable, and effective relationship that culminates in the successful sale of the vehicle. Being well-informed and vigilant about these aspects can help avoid potential complications, ensuring a smooth consignment process.
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