Sign in

Decoding The Consignment Agreement To Sell My Car in Orlando, FL

South Tampa Auto Boutique
Decoding The Consignment Agreement To Sell My Car in Orlando, FL

Whenever I make up my mind to sell my car, several doubts and confusions embrace my mind. One of the greatest fears that I have witnessed is how to ensure the buyer's authenticity and that I am getting the right price. Unfortunately, the only answer that can calm anxiety is the option to go ahead with selling consignment. 


One safest and trending way to sell my car in Orlando, FLis to go ahead with consignment selling. Consignment selling is a procedure wherein a third party is given the authority to sell a vehicle you own. Here, all responsibilities related to the sale, such as listing the car, answering buyer queries, arranging meetings with the interested buyers, managing documentation, and receiving the payment through the mutually-agreed mode, are handled by the consignment agency. The relationship between the vehicle owner and the consignment agency is not just verbal but is properly documented through a consignment agreement or contract.


What is a consignment agreement?

A consignment agreement is a formal contract between an automobile supplier, known as the consignor, and reselling or counseling agency, known as the consignee. The terms of the consignment agreement must be mutually decided. For instance, suppose I want to sell my car in Florida. In the consignment agreement, I will specify whether I wish to retain the ownership of my car until it is sold or if I am handling it over the consignment agency. A consignment agreement works when a consignee is promised a commission amount for the automobile they sell on the consignor's behalf.


What should a consignment agreement include?

A wrongly-made consignment agreement can cost you considered if attention is not paid from the beginning.

Hence, if I plan to sell my car in Jacksonville, FL, via consignment, I must know what a consignment agreement should include:

If you need to create a consignment agreement, the following aspects are a must:

  • The first inclusion I need to make while trying to sell my car in Orlando, FL is the names and complete addresses of both the consignor and the consignee.
  • The second inclusion that needs to be clearly defined is the description of the vehicle that is up for sale via consignment. So, if I am looking forward to sell my car in FloridaI must elaborate in detail about my car in the consignment agreement.
  • All the expenses for which the consignee would be responsible must be mentioned in the agreement.
  • The minimum sale price you expected from your car's consignment sale must be clearly mentioned in the consignment agreement. A clear mention specifying the consignee's rights to discount your vehicle must be specified here.
  • The consignment agreement that I make when planning to sell my car in Jacksonville, FL should specify very clearly that the consignee has the right to accept money from the buyer and, once received, pay the balance to the consignor after subtracting the commission amount. In addition, it is also essential to state the payment time frame.
  • Another essential inclusion that I must make in the consignment agreement while trying to sell my car in Orlando, FL is to state that the consignor is the actual owner of the vehicle on sale. The consignee is responsible for actions like sale, loss, or damage once the contract stands applicable. 
  • Include that all documentation and recording functions are the consignee's obligation, and both parties should also agree on the time frame of the whole consignment.
  • Sometimes, the consignor can even request the consignee to return the vehicle during the consignment process. The same should be done by giving prior notice.
  • Do not forget to include details about the termination of the agreement. In the termination explanation, the details on how the sale would be handled if the item isn't sold by a certain date are specified. 


South Tampa Auto Boutique
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more