Sell you
car on Consignment
Agreement Consignment: Requirements
11730. The consignment agreement required by Section 11729
shall contain all the following terms, phrases, conditions,
and disclosures:
(a) The date the agreement is executed.
(b) All of the following statements:
(1) "I (We), the undersigned consigner(s), hereby consign
and deliver possession of my(our) vehicle, which is a (Year)
____ (Make) ____ (ID#) ____ (License) ____ (State) ____
(Mileage) ____, to (Consignee) _____ (Dealer #) ____ for the
sole purpose of selling the vehicle and paying, to the
consignor or his or her designee from the proceeds of the
sale of the vehicle, the amount agreed upon under terms of
this agreement. This agreement is effective and valid only
for a period of____ days from this date."
(2) "At the termination of this agreement, the consignee
shall return the vehicle to the consignor, or, at the option
of both the consignor and consignee, enter into a new
agreement."
(3) "If the vehicle is sold by the consignee during the term
of this agreement, the money due the consignor shall be
disbursed within 20 days after the date of sale in
accordance with the terms of this agreement. As used in this
agreement, a "sale" occurs when the consignee either (A)
receives the purchase price or its equivalent or executes a
conditional sales contract for the vehicle, or (B) when the
purchaser takes delivery of the vehicle, whichever occurs
first."
(4) "The following information shall be completed prior to
the signing of this agreement:
Current market value: $____ Source: ____.
Outstanding liens: $____ Lienholder: ____.
(Any difference between the outstanding amount shown and the
actual payoff to the lienholder will be credited to the
consignor.)
Repairs to be made: $____ Work Order #____.
Moneys to the consignor: ____ percent of sale price, flat
fee of $____ or the following specific formula: ____."
(5) "Within 20 days after sale, the consignee shall make an
accounting to the consignor of all of the following: date of
sale, repairs authorized by consignor (supported by work
records), exact amount of any liens payable to lienholders,
evidence of payment of any liens, and the total sales
price."
(6) "The consigned vehicle is delivered to the consignee in
trust for the exact terms set forth in this agreement. The
consignee agrees to receive this vehicle in trust and not to
permit its use for any other purpose other than contained in
this agreement without the express written consent of the
consignor."
(7) "Upon payment of the moneys due the consignor, the
consignor agrees to furnish the consignee those documents
necessary to transfer the ownership of the vehicle to the
purchaser.
Signatures:
Consignor Date
______________________________________________________________________________________
Address
___________________________________________________________________________________________
Consignee Date
______________________________________________________________________________________
Address
____________________________________________________________________________________________
(8) "NOTICE TO CONSIGNOR: Failure of the consignee to comply
with the terms of this agreement may be a violation of
statute which could result in criminal or administrative
sanctions, or both. If you feel the consignee has not
complied with the terms of this agreement, please contact an
investigator of the Department of Motor Vehicles."
Amended Sec. 12, Ch. 1035, Stats. 2000. Effective January 1,
2001.
All you need to do is call 1-310-670-3000 or E-mail
webuycar2@yahoo.com
And sell your car now!
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