Selling a car on consigment [Archive] - Australian LS1 and Holden Forums

redvxr8clubby

22-09-2011, 08:49 PM

Heard of problems with dealer selling the car, and not paying the owner, also dealers going bust after the car is sold, owner doesn't get paid or perhaps becomes a creditor. It seems to be a risky, you are totally in the dealers hands.

blownhsv62

22-09-2011, 09:12 PM

Hi Mate,

Selling cars on consignment is very dangerous as from a legal standpoint you are basically giving ownership of the vehicle over to the dealer...

They may sell the vehicle at any price they feel fit as they are the executor of the vehicles sale.

I would look at the dealership to see if they are reputable and find a better option than consigning a vehicle over.

Wonky

22-09-2011, 09:14 PM

Have also heard (no first hand experience though) that often the dealers don't try too hard on consignment cars i.e. they only push them if nothing else in the yard suits the buyer.

seedyrom

22-09-2011, 09:56 PM

http://www.news.com.au/breaking-news/national/men-arrested-over-15m-car-yard-fraud/story-e6frfku9-1225787185227

Men arrested over $15m car yard fraud

THREE men have been arrested over an alleged car yard fraud in Sydney that's cost customers $15 million, with 180 privately-owned cars still missing.

Police have seized a $650,000 Ferrari Scaglietti from a property in Greenacre, in Sydney's southwest, and arrested the trio.

In April this year, detectives received a large number of complaints from people in NSW and overseas about a car yard operating in Burwood, in inner-west Sydney.

Car owners engaged the business to sell their vehicles on consignment but later found the lot empty.

Police seized the Ferrari and arrested a 35-year-old man at another Sydney car yard this morning.

This afternoon, two other men aged 47 and 32 attended Greenacre police station and were arrested.

All three are being questioned over the alleged fraudulent activities.

blownhsv62

22-09-2011, 10:05 PM

Even though thats old news and was blatant fraud it still happens its just it doesn't attract as much media attention as it use to also if a car is sold within reasonable amount by the dealer it is hard to protest in courts.

SSINISTER

22-09-2011, 10:17 PM

Four of my mates have sold there car through autoscene in maddington. They all happy with the outcome.

http://www.autoscene.com.au/

GettinThere

22-09-2011, 10:44 PM

Four of my mates have sold there car through autoscene in maddington. They all happy with the outcome.

http://www.autoscene.com.au/

By chance this the guy I am considering. Seems genuine enough and good to hear some positive feedback.

seldo

22-09-2011, 11:20 PM

Consignment sales are only done because of one reason - the owners are greedy.
They want to trim the margins down to the bare minimum and then complain when the resultant risk goes up proportionately....
Short answer :
Is consignment risky - Without a doubt
Is it safe - Hmmm - depends who you are dealing with.
Is it worth the risk - Not in my book.
Would I sell my own car on consignment - Probably not...unless I knew the seller very well personally, and still plenty of risk...
All offered in the light of the experience of probably 100 consignment sales as the final vendor.

GettinThere

22-09-2011, 11:50 PM

seldo

23-09-2011, 12:11 AM

Good advice. Greedy is one thing I am not. ... Just don't want to be ripped off.It's a bit like you read in the paper / see on TV, people complaining about having entered into some scheme that promised returns of 25%....and guess what...it all goes tits up and they plead ripped off...
Sorry - No sympathy - a fool and his money are soon parted...(usually by being greedy)

VYSHSV8

23-09-2011, 12:25 AM

As Seldo has said and also 1 other thing...

Just remember if the company you have your car on Consignment with goes bust, You Loose your car, unless you get there and take it of there records before everything happen's.

Wonky

23-09-2011, 01:24 AM

It's a bit like you read in the paper / see on TV, people complaining about having entered into some scheme that promised returns of 25%....and guess what...it all goes tits up and they plead ripped off...
Sorry - No sympathy - a fool and his money are soon parted...(usually by being greedy)

Wholeheartedly agree!! :goodjob: Same for all the fools who fall for Nigerian scams - bloody greedy!! :nutkick:

V8BEER

23-09-2011, 04:18 AM

A lot of their pricing is daylight robbery, pity the fool paying what they ask for some of their cars.

Why dont you try selling it on here and other car forums yourself? :smilesandbanana:

Pickles

23-09-2011, 08:07 AM

I believe selling on consignment in Victoria is illegal.
Even if it wasn't, I wouldn't sell a "toy" that way...because you have no control over what happens to the car...who sits in it, who drives it, how they drive it etc etc.
So, not for me.
Cheers, Pickles.

GettinThere

23-09-2011, 08:57 AM

A lot of their pricing is daylight robbery, pity the fool paying what they ask for some of their cars.

Why dont you try selling it on here and other car forums yourself? :smilesandbanana:

I appreciat the opinions. As for selling it on here: I am and also on carsales. It is by far the best value in Perth that I can see advertised.'
Dealers offer better exposure that's all.
I will need to read how the contract is structured to really understand the process.

whitels1ss

23-09-2011, 09:16 AM

I know of a car yard that may need some cars on consignment.
Imagine if yours had been here in this big Holden dealership on this day?

http://www.ls1.com.au/forum/showthread.php?t=152042

Hey it's just not worth it mate, it's like the real estate agent who tells you he can get more for your house than the others can.
At the end of the day, you will be without your car risking all sorts and you will get sick of it, then you will have to drop your price by thousands or pick up your car again and the value will have dropped even further. (You may even have to pay the dealer for storage, cleaning and even any advertising costs? Before you can get your car back.)
One other thing, if you do decide to put your car on consignment, first talk to your insurance company and find out exactly where you stand with it.

Tony Monaro

23-09-2011, 11:58 PM

Read this link from Consumer affairs in SA. Old but still relevant.

http://www.ocba.sa.gov.au/assets/medicomms/mrelease_bob_moran.pdf

V8BEER

24-09-2011, 12:05 AM

I appreciat the opinions. As for selling it on here: I am and also on carsales. It is by far the best value in Perth that I can see advertised.'
Dealers offer better exposure that's all.
I will need to read how the contract is structured to really understand the process.

Yours is good value (just some of the cars they advertised are a joke), I just looked at it again in the for sale section. If I was in the market for a clubby i would snap it up. I would be very suprised if it doesnt sell for that amount, not much more than some SSs and SSVs. But people maybe a bit spooked with all this finiancial doom n gloom

the big fist

24-09-2011, 01:16 AM

By chance this the guy I am considering. Seems genuine enough and good to hear some positive feedback.

2 yeas ago, worked out a trade for my then car and cash difference for gto on consignment. Was done on the phone and verbally accepted. Rang back to arrange viewing and car had been shifted to City Motors. Not impressed. Was a "mixup" or some crap excuse. Nice guy though.

GettinThere

24-09-2011, 11:31 PM

2 yeas ago, worked out a trade for my then car and cash difference for gto on consignment. Was done on the phone and verbally accepted. Rang back to arrange viewing and car had been shifted to City Motors. Not impressed. Was a "mixup" or some crap excuse. Nice guy though.

He did say to me he accepts more than one offer on cars that are on consignment, sometimes 3 offers just in case the first person doesnt get finance. I suspect this is what happened to you. But as you said he seems like a good bloke and if he was selling my car I would be happy if he did it. But not if i was the buyer.

the big fist

26-09-2011, 02:20 PM

He did say to me he accepts more than one offer on cars that are on consignment, sometimes 3 offers just in case the first person doesnt get finance. I suspect this is what happened to you. But as you said he seems like a good bloke and if he was selling my car I would be happy if he did it. But not if i was the buyer.

Car got transferred to City Motors, not sold. I don't use finance. Was a very odd situation, as the guys at Citys (never had a good experience there) didn't want to do the same deal. Car sat around for about 2 weeks then went.
I drive past there everyday to and from work.

Strange !

GettinThere

26-09-2011, 02:43 PM

I reckon he sold it to them.

daskip

26-09-2011, 03:36 PM

Car got transferred to City Motors, not sold. I don't use finance. Was a very odd situation, as the guys at Citys (never had a good experience there) didn't want to do the same deal. Car sat around for about 2 weeks then went.
I drive past there everyday to and from work.

Strange !

if thats the place im thinking years back we went in there looking at a car for my boss while we were on a lunchbreak.

i actually asked the salesman how much for a particular VY SS that he had and he just looked at me and laughed and said i dont think you could afford that car.

went told my boss what he said and he went up to the salesman and said its funny it was me wanting the car not him and i was paying cash but you can stick the car where the sun dont shine.

look on the blokes face was priceless

V8BEER

27-09-2011, 04:05 AM

Was it citys or autoscene your talking about?
Went to citys a few years back, looking at trading my VT V8 wgn in on a monaro, went for a test drive (in the monaro), told me how rare v8 wagons where, sales bloke said how much are you chasing for a trade, I said im not interested in trade in price, tell me what the change over would be, never did so i walked, had my details and never heard from him :jester:

never been back since