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Selling Cars On Consignment

evil_weevil

By evil_weevil,
in New South Wales

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evil_weevil Grand Master

evil_weevil

Posted
Posted

Well,

The used car market isnt the best at the moment, so going to look at other avenues to sell my skyline, as now, I need to the money and wasnt in a rush a couple months back as I am now.

Has anyone put their car on consignment at a dealership before?

What would be a faily good/nice dealership to do it with?

pro's and con's of doing this?

Cheers,

Chris!

p.s. feel free to pm if you dont want to post in here ;)

p.p.s. anyone here want to buy it then? :cool:

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GTR-N1 Grand Master

GTR-N1

Posted
Posted
I sold my Swift GTi years ago this way. Took about 3 weeks to sell. Got pretty good money for it also.

What was the contract like that you and the consigner signed Bakes?

Was it heavily biased?

Did you feel that it was short of a clause here or there? Or was it quite fair to both parties?

N1GTR Grand Master

N1GTR

Posted
Posted

Ive sold cars (will sell anything with a commission lol) on consignment basis before. There are a few things to be mindful of, but basically i can recommend 2 places to sell a car.

The actual consignment agreement is pretty basic, but you have to be smart about how you work it out. For example, in most dealerships they will detail the car when it arrives so it looks perfect. You'll be paying for that. They'll brush touch the front end. You'll be paying for that. They'll advertise the car through their normal channels. You'll be paying for that. The floor space costs them money each week. You'll be paying for that.

Have a realistic figure you will accept for the car if sold quickly. Reason i say that is that i was selling a car only a short time ago (wont go into specifics about who owned it or anything about it), but the guy wanted 28k for it, i got buyer after buyer at 25k cash, i advised the owner to sell as christmas was getting closer and thats a dead time to be selling anything. He refused based on his opinion that "the car cant be replaced with exchange rates as they are so its worth 28k". I explained that his incurred costs (at a cost of $250 per week) adds up quickly and he would have the cash straightaway. Still refused. 13 weeks after the car first arrived and numerous offers between 24k and 27k it finally sold for 27k and he was desperate for the money by then. Then he got a bill for $3250 according to the agreement he signed, which was deducted from the balance before EFT payment to his account. So, the final price was really $23750. If only he was realistic he wouldve had the money in the bank, interest, less stress.

So;

-Realistic price

-Detail the car yourself and clearly state that you have so there is no need for them to do it

-Remember every day it sits unsold costs you money

Anything further, pm me.

Now the other way to go; There are places that buy cars for cash on the spot. The figures arent always high (generally never), but you get a quick sale, cash in your hand, car gone. Basically they'll try to buy a car for example at 7k and sell on their lot for 10k. Its an entry to the wholesale market for private sellers, consider it like a trade in on a new car but they give you a cheque instead of the new car. Doesnt help private buyers at all (if anyone thinks they can score a mad cheap car). The way to get the best out of this is fairly simple. Get a list of 10 places that offer this service (trading post, take note of signs at caryards as you drive around, normal newspapers etc). Call each of them and say you've got a clean r33 turbo and you would like them to give you a price for it. They will say they need to see the car themselves to give a price (which is fair). Book appointments with each of them on the same day. Book the appointments as close together as possible (and feasible of course, ask how long exactly they will take to inspect and provide a price, then stress you're very busy and can only allocate that time to them). Friday night clean the car like you never have before. Do all the appoinments the next day, at the end of each appointment say that you expected more money for it (this part isnt a lie cause they'll be lowballing you anyway) and you need time to think about it. At the end of the last appointment call up the dealer who offered the most, tell him for another $500 or so he's got a deal. Drive back to that one, car is sold. Easy!

Good luck!

N1GTR Grand Master

N1GTR

Posted
Posted

Chris or anyone else worried about dealers taking cars for "test drives", thats a VERY valid point; There is only one place that i know 100% doesnt do that sort of thing with customer cars in Sydney. Autostyle.

Dont believe me? No problem. Go up and down Parramatta rd testing cars, then go to Autostyle, and without putting down a non refundable cash/cheque (they'll wait for cheque clearance if you use cheque) deposit try and get the keys in your hand, bum in the fun seat and car on the road. :down:

EDIT: No probs Chris. You've got my number if you want anymore info or whatever. Thinking about it, when i worked there out of all the cars i sold there was only 1 test drive where the customer actually drove. Staff do the driving, customer sits passenger. Ask Dom why that is, its a funny story

N1GTR Grand Master

N1GTR

Posted
Posted

Yeah shame about that monster being totalled by the bloke, if i remember correctly it was on a test drive as the guy who bought it from autostyle was selling it? And the prospective buyer stacked it?

Easy to do with 370kw atw. Mines got that, its quite stackable as you dont realize how quick it accelerates cause of the linear torque delivery (and the mighty RB30 *throw up RB30 gang signs*).

Most of the cars in Autostyles stock list are quite crazy cars. Like the yellow R32 GTR in the corner with 619awkw. Thats right, six hundred and nineteen awkw. The R35 would be the lowest powered Skyline in their floor stock currently. I reckon thats pretty cool :down: Very easy to see why they're so strict. I dont know why yours is still for sale though, it honestly is a well priced good condition car with the right bits on it.

evil_weevil Grand Master

evil_weevil

Posted
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cheers Steve, yeah I dont know, I guess people would rather buy a 9 - 10k shitter and just be happy with that for a bit? dont know!

Yeah, AFAIK the guy bought it, then he went to sell it, took 2 or 3 other people for the test drive, was on cold semi's, on boost, and then on its roof ! ouch - very sad day that one, I drove that car a couple times, and have never ever shat myself before like I did when driving it. I have a feeling what your car would be with the RB30!!and I'd be too scared to drive it!

PIG747 Mentor

PIG747

Posted
Posted
cheers Steve, yeah I dont know, I guess people would rather buy a 9 - 10k shitter and just be happy with that for a bit? dont know!

Yeah, AFAIK the guy bought it, then he went to sell it, took 2 or 3 other people for the test drive, was on cold semi's, on boost, and then on its roof ! ouch - very sad day that one, I drove that car a couple times, and have never ever shat myself before like I did when driving it. I have a feeling what your car would be with the RB30!!and I'd be too scared to drive it!

I know what car you're refuring to. 2 of my mates were in it when it fliped because one of them wanted to buy it. It was only a 30 second test drive lol

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