Car Consignment PDF Form

Detailed Instructions for Filling Out Car Consignment

After deciding to consign your vehicle, it's essential to accurately fill out the Car Consignment Form to ensure a smooth process. This form is a binding agreement between you (the consignor) and the consignee (the entity or individual responsible for selling the vehicle on your behalf). By accurately completing this form, both parties will clearly understand their rights, responsibilities, and the specifics of the consignment agreement, including the vehicle details, consignment period, commission rates, and other essential terms.

1. Start by entering your full name(s) as the Consignor(s) in the designated space at the beginning of the agreement.
2. Fill in the name and address of the consignee (dealership or individual) you are entrusting with your vehicle, along with their telephone number and Dealer Number.
3. Describe the vehicle you are consigning, including its year, make, model, VIN (Vehicle Identification Number), license plate number, odometer reading, style, and exterior color. Check the appropriate boxes to indicate the odometer's status: Actual Miles, TMU (True Mileage Unknown), or Exempt.
4. Indicate the vehicle features by checking the corresponding boxes, such as Air Conditioning, Power Locks, Keyless Entry, etc., and specify the engine and transmission type.
5. List any additional features like Navigation, DVD system, etc., and specify the current entertainment system installed.
6. Provide information regarding the vehicle's manuals, maintenance records, and floor mats.
7. Disclose any liens against the vehicle by providing the lien holder's name, address, phone number, and account number.
8. Confirm the insurance details: Agent Name, Insurance Company, Address, Policy Number, Liability Limits, Effective and Expiration dates.
9. Check the appropriate boxes to disclose whether the vehicle has been involved in an accident, flood, had hail damage, has a branded title, or is currently unable to pass safety or emissions inspections. If any boxes are checked "Yes," provide details in the provided space.
10. Select the vehicle's condition (Excellent, Average, Poor) and list any work required.
11. Review and agree to the commission rates set forth by the Consignee based on the vehicle's sale price. Note any additional fees that may apply.
12. At the bottom of the form, provide your contact details: email, home address, and phone numbers (home and work).
13. Sign and date the agreement in the designated spaces. Ensure the Consignee representative (on behalf of the dealership or entity) also signs and dates the agreement.

Once the form is filled out and signed, you've taken the first step in consigning your vehicle. The written agreement will serve as a reference for both parties throughout the consignment period. It's crucial to keep a copy for your records. Should any questions or concerns arise, or if you believe the consignee has not adhered to the terms, consulting with the Department of Motor Vehicles or seeking legal advice may be appropriate.

1. What is a Consignment Agreement?

   A Consignment Agreement is a contract where the owner of the vehicle (the Consignor) agrees to give their vehicle to another party (the Consignee), usually a dealership, to sell on their behalf. The agreement outlines that the vehicle’s ownership remains with the Consignor until the sale is made.

2. Who are the Consignor and the Consignee?

   The Consignor is the individual or entity that owns the vehicle and is seeking to sell it through consignment. The Consignee is the dealership or person tasked with selling the vehicle on behalf of the Consignor.

3. How does the pricing work in a Consignment Agreement?

   The agreement sets a minimum selling price for the vehicle, as agreed upon by both the Consignor and the Consignee. The Consignor maintains the final say in any proposed sale price, ensuring they agree to the sale amount before the deal is finalized.

4. What happens if the vehicle doesn’t sell within the agreement term?

   If the vehicle does not sell by the end of the term specified in the Consignment Agreement, the Consignor has two options: they can retrieve their vehicle or enter into a new agreement with the Consignee for a continued attempt to sell.

5. Are there any fees involved?

   Yes, the agreement outlines specific commission rates and costs for the Consignee based on the sale price of the vehicle. Additional fees may include advertising outside of specified platforms, detailing, safety inspection, repair work, or offered warranty plans, which are not covered in the commission fee.

6. Who is responsible for the vehicle’s insurance during the consignment period?

   The agreement requires that comprehensive and liability insurance on the vehicle remain in effect, under the Consignor’s name, throughout the consignment period, ensuring the vehicle is covered against theft, fire, or other damages while with the Consignee.

7. What if the vehicle requires repairs during the consignment period?

   Should the vehicle need repairs while under consignment, the Consignee must notify the Consignor and receive their approval before any work begins. The costs for these repairs will be deducted from the net amount due to the Consignor from the sale of the vehicle.

8. What happens if the Consignor wants to end the agreement early?

   The Consignor is allowed to remove their vehicle from the Consignee’s premises with prior notice, usually specified within the agreement. However, they may be responsible for covering the costs of advertising, detailing, inspections, and repairs incurred up to that point.

Filling out a Car Consignment form can sometimes be tricky, and mistakes are easy to make. These mistakes can lead to misunderstandings, delays in selling your vehicle, and even financial losses. One common mistake is not clearly identifying the consignor and consignee. This is crucial as it defines who is responsible for the vehicle during the consignment period. The names and contact information should be filled out in full, ensuring there are no ambiguities about the parties involved.

Another frequent error is failing to specify the vehicle details accurately. The form requires information about the make, model, VIN, and more. Overlooking these details or providing incorrect information can cause significant issues, especially if there’s a dispute about the vehicle's condition or authenticity. Being meticulous with this information safeguards both the consignor and consignee.

Many also neglect to detail the vehicle's condition accurately, including its accident history and existing damage. It's tempting to omit certain facts to make the vehicle seem more appealing but being honest and transparent is crucial. This ensures that all parties have the same expectations about the vehicle's value and can prevent legal disputes down the line.

Agreeing to the consignment terms without fully understanding them, including the commission rates and any additional fees, is another error to avoid. It's essential to know exactly what costs are involved and how they will affect the final amount you receive from the sale of your vehicle. Ignorance of these terms can lead to unexpected expenses that reduce your profit.

Failure to maintain proper insurance on the vehicle while it is under consignment is a common oversight. The consignment agreement specifies that comprehensive and liability insurance must be kept in effect throughout the period. Neglecting this requirement not only puts you at risk but also violates the agreement, potentially leading to financial liability in case of damage or theft.

Lastly, a significant mistake is not clarifying the end date of the consignment agreement or the conditions under which the vehicle will be returned if unsold. This detail is crucial for planning and ensures that both parties have clear expectations about the duration of the agreement. Without specifying this, the vehicle could remain unsold and in limbo for an indefinite period, which is unfavorable for the consignor.

When you're engaging in a car consignment, there are several important documents and forms that often complement the Used Vehicle Consignment Agreement. These documents play various roles, from verifying the condition and ownership of the vehicle to ensuring all legal and financial aspects are addressed. Let's explore some of these key documents.

• Vehicle Title: This is the document that proves ownership of the vehicle. It needs to be transferred to the new owner upon the sale of the vehicle.
• Odometer Disclosure Statement: A federal requirement for the sale of vehicles, this statement records the mileage of the vehicle at the time of sale and helps to ensure accuracy in reporting.
• Vehicle History Report: Often obtained from services like CarFax or AutoCheck, it provides a detailed history of the vehicle, including any accidents, repair records, and previous owners.
• Bill of Sale: This document outlines the terms of the vehicle's sale, including the purchase price, sale date, and details of both the buyer and seller. It acts as proof of purchase.
• As-Is No Warranty Document: When a vehicle is sold 'as-is', this document informs the buyer that the seller is not offering any warranty and that the buyer is assuming all risks for any future repairs.
• Emissions Test Documents: Some states require proof that the vehicle has passed emissions testing before being sold. This document shows the vehicle meets environmental standards.
• Safety Inspection Certificate: Similar to emissions testing, this certificate indicates that the vehicle has passed a safety inspection and is fit for operation on public roads.
• Lien Release: If the vehicle had a lien against it, this document from the lender confirms that the lien has been satisfied and removed.
• Consignment Contract Addendum: This may be used to clarify, modify, or add additional terms to the initial consignment agreement, ensuring all parties are on the same page about the sale's conditions.

Together, these documents ensure that the car consignment process is transparent, legal, and fair for both the consignor and the consignee. By carefully managing and completing these forms, parties involved in a consignment sale can protect their interests, comply with state and federal regulations, and facilitate a smooth transition of the vehicle to its new owner.

• A Real Estate Consignment Agreement shares similarities with the Car Consignment form as it outlines the terms under which a property is to be sold on behalf of the owner by an agent or a third party. Both documents specify the duration of the agreement, commission rates, and the obligations of each party to maintain the item (vehicle or property) in good condition during the consignment period.

• An Art Consignment Agreement parallels the structure of the Car Consignment form by detailing the relationship between the artist (consignor) and the gallery (consignee). It covers the exhibition period, insurance requirements, and commission structure, much like the automobile agreement delineates specifics around the sale, insurance, and fees.

• The Equipment Consignment Agreement is akin to the Car Consignment form as both outline the consignment of high-value items. They cover the conditions under which the items are to be kept, specific details about the item(s) being consigned, pricing strategy, and the distribution of proceeds from the sale.

• A Boat Consignment Agreement is similar to its automotive counterpart, focusing on the consignment of watercraft. Both forms include information such as the make, model, and condition of the consigned item, insurance requirements, and terms of sale, including minimum price and commission rates.

• The Furniture Consignment Agreement mirrors the structure of the Car Consignment form by outlining the terms under which furniture is sold on consignment. Both documents detail the responsibilities of the consignee to sell the items at an agreed-upon price and within a specified timeframe, including condition and insurance stipulations.

• A Jewelry Consignment Agreement is comparable to the Car Consignment form because it specifies the consignment terms for high-value, personal items. Both agreements include detailed item descriptions, condition reports, pricing strategies, insurance coverage, and the consignor's rights to final sale approval.

• An Antique Consignment Agreement is similar in that it involves the consignment of valuable, often rare items, stipulating the terms of sale, responsibilities for loss or damage, and the consignee's commission. Both this and the Car Consignment form require detailed descriptions of the consigned items and condition assessments.

• The Fashion or Apparel Consignment Agreement shares similarities with the Car Consignment form by outlining how clothing or accessories are to be sold. Key parallels include inventory lists, condition of items, specifics on pricing and commissions, and insurance obligations to safeguard against loss or damage.

• A Collectibles Consignment Agreement is akin to the Car Consignment form in that it pertains to the sale of unique or rare items, ranging from sports memorabilia to vintage toys. Both agreements typically include thorough descriptions of the items, condition verification, agreed-upon minimum selling prices, and detailed commission structures.

• The Electronics Consignment Agreement resembles the Car Consignment form as it covers the consignment of high-value electronic devices. Similarities include the importance of specifying the make, model, and condition of the consigned items, setting prices, and understanding the roles and responsibilities of the consignee and consignor regarding the sale and insurance of the items.

When filling out a Car Consignment form, paying attention to detail is crucial for both the consignor (the person owning the vehicle) and the consignee (the entity selling the vehicle on the consignor's behalf). To ensure clarity, accuracy, and the protection of all parties involved, here are some essential dos and don'ts:

• Do verify that all the vehicle information is correct, including the year, make, model, VIN, and odometer reading.
• Do provide accurate details about the vehicle’s condition, including any accidents, flood damage, or other issues it may have had.
• Do list any existing liens against the vehicle along with the lien holder's contact information.
• Do ensure that the insurance information provided covers the duration of the consignment period as stipulated in the agreement.
• Do clearly understand the commission rates or costs that will be incurred upon the sale of the vehicle, including any additional fees for advertising, detailing, and repairs.
• Don’t leave any sections incomplete. If a section does not apply, make sure to mark it accordingly, for example, with "N/A" for not applicable.
• Don’t sign the agreement without reviewing and agreeing to the terms, especially regarding what happens if the vehicle does not sell within the specified term.
• Don’t forget to provide both consignor and consignee with all necessary contact information for easy communication throughout the consignment period.
• Don’t neglect to outline the procedure for what happens at the agreement's termination, whether the vehicle is sold, returned, or enters into a new agreement.

By adhering to these straightforward guidelines, the process of consigning a vehicle can be smooth and free of misunderstandings, ensuring a positive experience for both the consignor and consignee.

Understanding the intricacies of a Car Consignment form can often seem daunting, leading to several misconceptions. Clearing up these misunderstandings not only simplifies the process but ensures that both consignors and consignees approach the transaction with clear expectations.

Misconception 1: The vehicle is sold to the consignee.

Many believe that consigning a vehicle equates to selling it directly to the consignee. However, the reality is that the consignee acts as an agent, facilitating the sale of the vehicle on behalf of the consignor without actually purchasing it themselves.

Misconception 2: The consignor loses all control over the sale.

Contrary to this belief, consignors retain significant control, including setting a minimum selling price and having final approval on any proposed sale, ensuring their interests are protected throughout the transaction.

Misconception 3: The consignor must pay for advertising costs upfront.

A common misunderstanding is that advertising and promotional costs are the consignor's responsibility from the beginning. Instead, many of these expenses are typically included in the commission cost, with some exceptions based on the value of the vehicle and the platforms used.

Misconception 4: Consignees are responsible for any damages incurred during the agreement.

It's often erroneously believed that the consignee will cover damages such as fire, theft, or vandalism that occur while the vehicle is under their care. The truth is, the consignor must ensure that comprehensive and liability insurance remain in effect, as the consignee is not held liable for such damages.

Misconception 5: There are no further costs after the sale is made.

• Many assume that once the vehicle is sold, all financial dealings are settled. However, the net amount due to the consignor is after the deduction of agreed-upon repairs or detailing costs, and the commission rate. Furthermore, the consignee will pay off any encumbrances against the vehicle and deduct these from the net amount due to the consignor.

Misconception 6: Consignors are free to remove their vehicle from the consignee's premises at any time.

Some believe that removing the consigned vehicle from the consignee's lot can be done on a whim. In reality, removal requires advance notice, typically of several hours, and must be done during specific hours or by appointment, with any incurred costs settled at the time of removal.

Misconception 7: The consignment agreement is automatically renewable.

A belief exists that the consignment agreement will roll over into a new term if the vehicle does not sell. However, the agreement specifies a start and end date. Should the vehicle remain unsold, a new agreement must be explicitly entered into.

Misconception 8: The consignor is not liable for any post-sale legal claims.

There's a misunderstanding that once the vehicle is sold, the consignor's liability ends entirely. Yet, the agreement outlines that the consignor must indemnify the consignee against all claims related to the vehicle, a responsibility that extends beyond the termination of the agreement.

Demystifying these misconceptions ensures a smoother consignment process, where both parties are well-informed and prepared for their respective responsibilities and rights.

When filling out and using a Car Consignment form, it is crucial to understand both your rights and obligations as the vehicle owner (Consignor) entrusting your vehicle to a dealership or agent (Consignee) for sale. Here are four key takeaways to guide you through this process:

• Ensure all details about the vehicle are accurately filled out, including the year, make, model, VIN, and any additional features or damages. This ensures there are no discrepancies during the sale process and provides potential buyers with clear, transparent information about the vehicle's condition.
• Clearly understand the consignment terms, such as the minimum selling price, commission rates for the Consignee, and any additional fees that may apply. These terms dictate the financial aspects of the agreement and impact the net amount you receive after the sale.
• Maintain the vehicle’s title in your name and keep insurance coverage up to date during the consignment period. This protects you legally and financially until the vehicle is officially sold and transferred to the new owner.
• Comprehend the conditions under which the vehicle can be returned to you, should it not sell during the agreed consignment period. Be aware of any costs associated with unsold vehicles, such as repairs or detailing agreed upon during consignment, which may be your responsibility.

By keeping these key points in mind, you can ensure a smoother car consignment process, safeguarding your interests while aiming for a successful sale of your vehicle.