Consider Consignment


If you run into the situation where you’re having difficulty selling a car yourself, or if you want to spend less time on the sales process, you may want to consider working out an arrangement with a retail car dealership to list the car on consignment. Under a consignment arrangement you let the dealership place your car on their lot and in exchange for the dealer selling the car for your desired price, you’ll pay them either a specified commission (which is a percentage of the overall sale price) or you’ll allow them to keep any amount over your desired price that they’re able to bring for the car.

If you have enough margin between the private party price and the retail price, there can be plenty of incentive for the dealership to do everything they can to sell your car. And the best part is, it doesn’t cost you any extra time or money. Once the dealership sells the car they’ll send you a check that you can take straight to the bank.

If you do enter into a consignment agreement with a dealership, make sure you have your agreement written down and signed by both parties. That way you’ll safeguard yourself against any unethical salespeople that might “forget” what your original agreed-on commission was.