The Car Consignment form is a legal document that outlines the agreement between a vehicle owner, known as the Consignor, and a dealer or agent, referred to as the Consignee, for the sale of a vehicle. This form ensures that the Consignee has the exclusive right to sell the vehicle on behalf of the owner, detailing the terms of the sale, including pricing and responsibilities. By using this form, both parties can clarify their roles and protect their interests throughout the consignment process.
The Car Consignment form is an essential document for individuals looking to sell their vehicles through a dealer or consignment service. This form establishes a formal agreement between the vehicle owner, known as the Consignor, and the dealer or agent, referred to as the Consignee. Key elements of the form include the details of the vehicle being consigned, such as its make, model, and Vehicle Identification Number (VIN), as well as the agreed-upon minimum selling price. The Consignor retains the right to approve any sale, ensuring they have control over the transaction. The form also outlines the duration of the consignment agreement, which specifies when the agreement starts and ends. Furthermore, it details the responsibilities of both parties, including the maintenance of insurance during the consignment period and the handling of any existing liens on the vehicle. Commission rates for the Consignee are clearly defined, along with any additional costs for services like repairs or advertising. Lastly, the form includes important disclaimers regarding the vehicle's condition and any potential liabilities, making it a comprehensive tool for facilitating the sale of a vehicle while protecting the interests of both the Consignor and the Consignee.
What is a Car Consignment Form?
The Car Consignment Form is a legal document that outlines the agreement between a vehicle owner (the Consignor) and a dealership or individual (the Consignee) to sell a vehicle on behalf of the owner. It details the terms of the consignment, including the sale price, commission rates, and responsibilities of both parties.
How does the consignment process work?
Once you fill out and sign the Car Consignment Form, you hand over the vehicle to the Consignee. The Consignee then takes on the responsibility of selling the vehicle. The Consignor retains ownership until the vehicle is sold, and they must approve any sale before it happens. The Consignee will handle advertising, showings, and negotiations with potential buyers.
What should I include in the form?
In the Car Consignment Form, you need to provide detailed information about the vehicle, such as its year, make, model, VIN number, and condition. You should also specify the minimum selling price and any existing liens on the vehicle. Additionally, it's important to include your contact information and the Consignee's details.
What happens if my vehicle doesn't sell?
If your vehicle does not sell during the agreed-upon consignment period, you have the option to either renew the consignment agreement or retrieve your vehicle. However, you may be responsible for any repair costs incurred during the consignment period before the vehicle is returned to you.
Are there any fees associated with the consignment?
Yes, there are several fees that may apply. These can include commissions based on the sale price, costs for repairs or detailing, and any advertising expenses. It's crucial to review these fees carefully in the agreement to understand your financial obligations.
What if my vehicle has been in an accident?
If your vehicle has been in an accident, you must disclose this information on the Car Consignment Form. Transparency is key, as it protects both you and the Consignee from potential legal issues. Failure to disclose such information could lead to complications in the sale process.
Can I remove my vehicle from consignment?
Yes, you can remove your vehicle from consignment. However, you must provide the Consignee with advance notice, typically a minimum of hours specified in the agreement. Additionally, you may need to settle any outstanding fees before the vehicle can be removed.
What if I sell the vehicle myself?
If you sell the vehicle to someone other than the Consignee during the consignment period, you may still owe a percentage of the sale price to the Consignee. This is to compensate them for their efforts in marketing the vehicle. Be sure to check the specific terms outlined in your agreement.
Filling out the Car Consignment form is a crucial step in the process of selling your vehicle through a dealer. Here are some key takeaways to keep in mind:
By keeping these takeaways in mind, you can navigate the consignment process with confidence and clarity.
Misconceptions about the Car Consignment form can lead to misunderstandings and potential disputes. Here are seven common misconceptions clarified:
Understanding these points is crucial for both Consignors and Consignees to ensure a smooth consignment process.
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.
Dollar Fundraiser Sheets - One dollar can go a long way.
To complete the transfer of ownership for watercraft in Louisiana, it is essential to utilize the Louisiana Boat Bill of Sale form, which can be found at Vessel Bill of Sale. This document not only serves as proof of sale but also ensures that all necessary information about the vessel and the parties involved is properly recorded, facilitating a legally compliant transfer process.
Aao Transfer Form - Each signature and document serves as a formal agreement to proceed with continued treatment under a new orthodontist.
Incomplete Information: Failing to fill in all required fields, such as the vehicle’s VIN or the Consignee’s contact details, can lead to delays in processing the consignment.
Missing Signatures: Not signing the form or having all necessary parties sign can render the agreement invalid.
Incorrect Pricing: Entering an unrealistic minimum selling price may discourage potential buyers and complicate the sale process.
Neglecting to Disclose Vehicle History: Failing to provide accurate information about past accidents or title issues can create legal complications later.
Ignoring Insurance Requirements: Not ensuring that proper insurance coverage is maintained during the consignment period can expose the Consignor to financial risks.
Overlooking Condition Assessment: Not accurately describing the vehicle's condition can mislead potential buyers and affect the sale.
Forgetting to Include Additional Fees: Failing to account for potential fees, like detailing or inspection costs, can lead to unexpected expenses.
Not Understanding the Commission Structure: Misunderstanding how commissions are calculated can lead to disputes over payments after the sale.
Neglecting to Set Timeframes: Not specifying the start and end dates of the consignment can create confusion about the agreement's duration.
When filling out the Car Consignment form, it is essential to be thorough and accurate. Here are five things to do and avoid:
The Car Consignment form shares similarities with a Vehicle Sales Agreement. Both documents outline the terms under which a vehicle is sold, detailing the responsibilities of the seller and buyer. However, while a Vehicle Sales Agreement typically involves an immediate transfer of ownership, the Car Consignment form allows the vehicle to remain under the consignor's ownership until it is sold. This distinction is crucial for those looking to retain ownership while seeking a sale.
Another comparable document is the Lease Agreement for Vehicles. Like the Car Consignment form, a Lease Agreement specifies the terms of use for a vehicle. Both documents include details about the vehicle, such as make and model, and outline the responsibilities of the parties involved. However, a Lease Agreement usually involves regular payments for the use of the vehicle, while the Car Consignment form focuses on selling the vehicle without any lease obligations.
The Bill of Sale is another document that bears resemblance to the Car Consignment form. Both documents facilitate the transfer of ownership of a vehicle. However, a Bill of Sale is executed at the point of sale, confirming the transaction, while the Car Consignment form is a preliminary agreement that allows for the sale to occur at a later date, under specific conditions agreed upon by both parties.
To facilitate your legal preparations, consider utilizing our "vital Power of Attorney template" to ensure that your choices are properly executed by an appointed agent in times of need. You can find more information by visiting our resource page.
A Power of Attorney for Vehicle Transactions also aligns with the Car Consignment form. This document allows one party to act on behalf of another in vehicle-related matters. Similar to the Car Consignment form, it requires clear identification of the vehicle and the parties involved. However, the Power of Attorney grants authority for a range of actions, while the Car Consignment form specifically governs the sale process.
The Vehicle Title Transfer form is another document that shares similarities with the Car Consignment form. Both documents require detailed information about the vehicle and the parties involved. The key difference lies in their purpose; the Vehicle Title Transfer form is used to officially transfer ownership from one party to another, whereas the Car Consignment form maintains the consignor's ownership until a sale is finalized.
The Purchase Agreement for Vehicles is similar in that it outlines the terms of a sale. Both documents specify the vehicle's details and the agreed-upon price. However, the Purchase Agreement typically signifies a completed transaction, while the Car Consignment form represents an ongoing process where the consignor retains ownership until the vehicle is sold.
A Rental Agreement for Vehicles also has parallels with the Car Consignment form. Both documents outline terms for the use of a vehicle, including responsibilities and conditions. However, a Rental Agreement involves payment for the use of the vehicle, while the Car Consignment form is focused on selling the vehicle rather than renting it.
The Vehicle Inspection Report is another document that can be compared to the Car Consignment form. Both documents may include details about the vehicle's condition and any necessary repairs. However, the Vehicle Inspection Report is typically used to assess the vehicle's safety and functionality, while the Car Consignment form is concerned with the sale process and the terms surrounding it.
The Insurance Policy for Vehicles also shares some similarities with the Car Consignment form. Both documents require information about the vehicle and the parties involved. The primary difference is that an Insurance Policy outlines coverage for the vehicle, while the Car Consignment form addresses the sale and consignment process.
Lastly, the Vehicle Registration form has aspects in common with the Car Consignment form. Both documents require detailed information about the vehicle and its owner. However, the Vehicle Registration form is focused on officially registering the vehicle with the state, while the Car Consignment form is about the agreement to sell the vehicle on behalf of the owner.