Nov 17 2008
Selling your car on consignment
I know that it is not an uncommon practice for people to sell their car on consignment at a local car dealership. In theory this is a win/win situation. The car dealer makes a commission for providing a sales team along with a location for the sale to occur on, and the seller gets a chance to receive a better price for their car.
Well, what happens when the car dealer is facing tough economic times? The seller, you, often gets stiffed. I am hearing stories more and more about innocent people who put their car on a dealer’s lot to be sold on consignment and when the car is sold the owner never gets paid and they become a victim of a dealer fraud. In my opinion, it is a bad idea to consider selling your car on a dealer’s lot on consignment. Simply put, the chance of losing your money or having to go to court to get your money is not worth the risk!
