If you’re wondering how to sell your car on consignment, you’re not alone. Thousands of smart car owners use consignment to get retail market value without the stress of selling it themselves.
In this guide, you’ll get a clear, step-by-step plan, learn what to expect, what you’ll need, and how to make sure you get the best possible payout - with help from Retail My Ride’s trusted network of licensed retail dealerships.
What is Car Consignment?
Car consignment means partnering with a local licensed dealership that sells your car for you alongside their owned-inventory of vehicles. The dealer handles marketing, listings, showings, test drives, negotiations, financing, trade-ins, paperwork - while you keep legal ownership until the sale is done.
It’s the smart middle ground between trading in your car for a low offer or dealing with private buyers on your own to get a more fair price for your car.
Who’s behind this guide? Retail My Ride is proud to be the first trusted voice and true champion of retail car consignment - learn more about why we’re here and what we stand for.
Why Choose Consignment Over Lowball Offers or Private Sale?
✅ Higher price than wholesale: Dealers offer you wholesale value. Consignment allows you to sell your car through them at retail value.
✅ Less hassle than private sale: No strangers at your house, no irritating no-shows, no ghosted emailing, texting, after-hour calls, no sketchy test drives, no endless listings. Your know the drill.
✅ Safe & secure: Licensed retail dealers handle everything - title work, funds transfer, and protect you from scams, product liability, and identity theft.
How to Sell Your Car on Consignment in 4 Steps
Step 1: Find a Trusted Retail Consignment Dealership
Not every retail dealer offers consignment selling services - and not every consignment dealer is worth your time. Retail My Ride matches you with verified dealers who specialize in selling your type of vehicle for you alongside their cars. What makes our network dealers the most qualified and trusted? They all meet these vetted criteria:
- Licensed, bonded and insured
- Proven track record supported by strong reviews
- Charge fair commission rates and fees
- Good standing in your state - know the ropes
- Experience with selling your vehicle type
- Offer full range of services and listing options
- Disclose all consignment terms in writing
Step 2: Agree on Price and Terms
After the dealer performs a free evaluation and appraisal of your car, you and the dealer mutually agree on:
- Any pre-sale reconditioning prep to maximize its resale value
- A realistic retail asking price based on market comparisons
- Minimum acceptable sale price
- Fees and/or commission rate (typically 5-10%)
Step 3: Sign the Consignment Agreement
A standard dealer consignment agreement should include:
- Duration of the listings (usually 60-90 days)
- Your right to cancel (any time)
- Dealer’s responsibilities
- Fees and commisions
- Listing price and adjustments
- Insurance requirements - shared liability
✅ You usually keep full insurance coverage until it sells - dealer also carries insurance for owned and consigned cars - dual coverage for extra protection
Step 4: Collect Your Money When it Sells
The dealer prepares and markets your car just like their owned inentory - detailing, pro photos, multiple online listings, lot display and test drives with qualified buyers. When you hand over the keys, they handle everything including:
- Inquiries and showings
- Price negotiations (with your approval)
- Buyer financing
- Buyer trade-ins
- Transport & shipping (to out of state buyers)
- Mechanical warranties
- Secure payment
- Final title transfer and buyer registration paperwork
- Once it’s sold, you get your agreed payout minus consignment fees and any pre-sale prep costs, usually within 24-48 hours after the dealer is funded for the sale.
Sellers love getting that phone call, "Hi Sarah, great news, we sold the Camry today. When can you come back to sign the title and pick up your check?"
How Much Does Consignment Cost?
Most network consignment dealers charge 5%-10% of the final sale price and/or a flat fee, and there is usually a maximum fee for higher priced vehicles like exotics, classics, etc.
Example: On Sarah's $20,000 Toyota Camry, the fee might be $1,000-$2,000 - but she still pockets more money than the highest lowball cash offers she received from Carmax and Carvana.
Documents You’ll Need
To consign your car, you generally need to bring these items with you to the evaluation and enrollment dealer visit:
- Vehicle title (or lien payoff info)
- Photo ID
- Maintenance records (if any)
- Extra keys, manuals (if available)
- Proof of insurance and registration
- Minimum 1/2 tank of gas
Top Car Consignment FAQs
Q: How long does selling a car on consignment take?
On average, 2-6 weeks, depending on demand, condition and asking price.
Q: Do I still own my car during consignment?
Yes - you keep ownership and insurance until it sells and then you sign over the title to the dealer - they handle all post-sale duties for the buyer
Q: What if my car doesn’t sell?
Working with the dealer, you can adjust the price, extend the agreement, or take it back.
Originally published by RetailMyRide.com — America’s #1 Hub for Retail Car Consignment.
