Common Vehicle Consignment Questions
There has been a growing trend towards auto consignment because of all the hassles involved with selling a car privately.
To professionally market a high priced item like a car requires significant prep work, product knowledge, skills to facilitate negotiations, the ability to meet buyers’ needs for financing and service contracts, and a variety of other factors that complicate the sale process.
So, with all that said, how exactly does vehicle consignment work?
Determining Your Car’s Market Value
The first thing we do is conduct an appraisal. Our automotive professionals will look over your car, ask you questions about its history, check out the mileage, assess condition and marketability, and present you with our valuation. You can either choose to sell it to us on the spot or continue with our consignment program.
Marketing Your Car to Potential Buyers
Marketing your vehicle properly is critical to selling it quickly and at the right price. Progressive Leasing has a professional sales team, a safe and well-lit lot, and an attractive website that all help advertise and sell your vehicle.
We will photograph and list your car on Autotrader.ca, Kijiji.ca, CarGurus.com and other popular sites frequented by car buyers. We also offer cleaning and detailing services to get your vehicle showroom-ready before it is photographed and marketed to potential buyers.
Setting the Right Price
Pricing is an area where we are experts. We offer pricing guidance and advice but leave the ultimate pricing decision in your hands.
Selling, Negotiating, and Handling Paperwork
Perhaps the biggest benefit of vehicle consignment is that we handle the actual sale transaction. We handle all test drives, buyer inquiries, and paperwork. These essential pieces to private party car sales can suck up a great deal of time and are best left to experienced professionals.
Transferring Value to Consignment Car Buyers
While consignment can maximize the proceeds and speed of sale for you, it is also a convenient and efficient option for vehicle buyers. Safety is a key concern in private party car sales, and we protect sellers and buyers alike. Progressive Leasing has the ability to offer products and services that many buyers need but often cannot purchase on their own in the private market.
A few of these services include:
- Vehicle Financing: We have the ability to arrange purchase financing for buyers.
- Extended Warranties: We can help buyers eliminate much of the risk of buying a used car by offering aftermarket service contracts, which provide many buyers peace of mind as they drive off the lot.
Again, these valuable options help both sides of the transaction. In addition to the buyer benefits outlined above, warranties, financing, and documentation make sales go more smoothly and quickly and are difficult if not impossible for you to provide on your own.
Why Consign a Vehicle?
- SECURITY – One of the most overlooked and frightening things about selling a vehicle privately is the potential security risk. You are inviting unknown, and possibly unsavory individuals into your home, potentially putting your family and valuables at risk.
- EXPENSE – Another important aspect of selling a vehicle privately is the need to place expensive ads in the local paper and auto-trade magazines, often week after week with little or no result.
- TIME – Much of your valuable free time is consumed first by waiting for the phone to ring, hoping for someone interested in your vehicle on the other end, only to wait again for people who want to look at your vehicle, but often never show up!
- SALESMANSHIP – Haggling over price is an uncomfortable skill for private individuals, who often, at the end of the day, do not obtain the price for their vehicle that they may have, if left to the care and sales attention of a professional.
- LIABILITY – As a private individual, you place yourself in a position of liability, falling prey to those who could take financial advantage of you for having sold them, even unknowingly, a defective vehicle.
Car consignment offers an attractive option for vehicle owners who would like to get more money for their car than the dealer trade-in price, as the vehicle will be marketed professionally without the traditional hassle and frustration of trying to sell it yourself.
Consignment is pretty simple – it’s your car, but we sell it for you. Progressive Leasing brings a level of professionalism and service that most people are unable to achieve on their own, maximizing the sale price while removing the traditional danger and hassle of the sale-by-owner market.