Car Consignment 101: How to sell your car

Car consignment allows you to retain ownership of your car while your consignment agent sells it on your behalf. It's not only as simple as it sounds, but it also ensures that you're getting the most money out of your car.

Here are the five steps on how to consign your car:

1. Look for a trusted consignment agent
2. Engage the consignment agent
3. Leave your car in the showroom or continue driving?
4. Let your agent find an ideal buyer at the price you want
5. Seal the deal and receive payment

Look for a trusted consignment agent

You're more likely to sell your car at your asking price if you engage a reputable consignment agent with many connections in the used car market. The more connections your agent has, the better.

Spend some time online and look for reputable agents with good reviews. Generally, if a consignment agent has more reviews, it means they've been around longer and have more experience. That means the chances of selling at your desired price increases.

Can't find any consignment agents you can trust? We have 12 trusted dealers we can recommend right here!
 
 
Engage the consignment agent

Once you've chosen a consignment agent to sell your car, you'll have to meet up to view the car. They will advise you on your asking price if you are unsure.

The consignment agent will also take the opportunity to take photos for advertising purposes.

Then there's the matter of payment.

Agent fees vary from a flat rate of $500 to 1% of the final selling price. You might also need to pay a deposit fee before the agent commences selling on your behalf.



Leave your car in the showroom or continue driving?

The beauty of consigning your car is that you don't have to leave it in the showroom. Instead, you can drive it around till its sold. However, you may be required to drive the car for viewing by potential customers from time to time.

Therefore, some choose to leave their cars in the showroom because they don't want to drive it down for viewing and test-driving frequently.

Whichever way you choose, the agent will be able to work around the sales of your vehicle.
 
 
Let your agent find an ideal buyer at the price you want

After advertising your car on various platforms, the consignment agent will entertain subsequent phone-calls and enquiries that come in. They'll sell your car by filtering through potential buyers, short-list the ones who are most likely to meet your asking price and arrange viewings and test drives (consignment agents handle the entire sales process).

On top of that, they'll also handle the repair and grooming work for you. But, that's dependent on the buyer's request and the consignment agreement.
 
 
Seal the deal and receive payment

Once the consignment agent finds the desired buyer, and you are agreeable with the final asking price, the consignment agent will handle the tedious paperwork and after-sales documentation for you.

All you need to do? Cash your money in the bank and look for your next car at sgCarMart.

So, is selling your car by consignment worth the commission fee? You decide.
 
 
Here are some related articles that you might interest you

Tips to get the best price when selling your car to used car dealers 

How to fetch a higher price for your used car when selling it to a dealer

For all car owners, here's how you get more money from selling your car

How to get dealers to buy your car at a high price