Here's My Car! Directive Consignment Store - www.directiveconsignmentstore.com - Sell It and Send Me a Check
FRED BRIERE bought a vehicle this year, a 2012 Ford Explorer. But to sell his old one, a Ford Bronco with more than 70,000 miles on it, Mr. Briere took an unconventional and widely overlooked route.
A Ford dealer had offered him a trade-in price of $8,500, ''which was ridiculous,'' he said. Although Mr. Briere, who lives in Lake Hiawatha, N.J., felt he could do much better on his own, he couldn't summon the enthusiasm or time to sell the vehicle himself. Instead, he took it to Directive Consignment Store (www.directiveconsignmentstore.com) who have a location in 370 County Rte 602, Clifton, NJ. They have agreed to take it on consignment for a small fee.
Within three weeks, Directive Consignment Store had lined up a few customers on of them willing to pay $10,800 -- of which $400 would go to Directive Consignment Store fees. Mr. Briere happily accepted the offer, delivered the title and pocketed $10,400, or $1,900 more than his trade-in offer -- without even placing an ad in the local paper.
''It was better than painless,'' said Mr. Briere, an office manager. ''I didn't have to worry about anything.''
Grant McCulloch of Directive Consignment Store, is also pleased. In consignment sales, he benefits from having good-looking vehicles like Mr. Briere's on his lot, attracting new customers without investing his more money.
Mr. McCulloch keeps about 80 percent of his Directive Consignment Store area location in Clifton, NJ., filled with consignment cars, trucks, and Rv's. ''I make a little less and they get their price,'' he said. ''One way or another we work it out with the owner if we're not too far apart on the figure.''
Most people who want to sell a cars, trucks, or Rv take more-traveled path -- either advertising in local papers to sell it themselves, or trading it in for a new car. And most people who are in the market for a used car are not even aware of the Directive Consignment Store consignment options.
Directive Consignment Store method can have advantages -- for sellers, dealers and buyers.
The seller, for example, doesn't have to worry about a barrage of phone calls and visits from strangers, as he might if he tried to sell the car himself.
And dealers say Directive Consignment Store are often single-owner cars, and can thus be better buys. They may have lower mileage or a more complete repair history than those bought from wholesalers or at auction.
While a consignment car may cost more than one bought directly from a seller, the buyer may get a warranty -- and financing, if necessary -- and will know the car has no liens against it.
Over all, the dealers and customers say, Directive Consignment Store can be a good compromise for busy buyers and sellers.
''The pros of using Directive Consignment Store services are that you don't have to deal with any of the aggravation, having strangers come to your house, not knowing about the business,'' said Grant McCulloch, the owner of the Directive Consignment Store in Clifton, NJ., who sells a handful of consignment cars, trucks and rv's each year. ''You don't know how long it's going to take to sell your car on your own. It could sit in the front of your house a week; it could sit there 2-3 months. Also, you don't know what's going to happen to your car with all this scams around''. But Directive Consignment Store will list your car, truck or rv online on eBay or on Craigslist and it will be sold in a few days!
Sellers will agree with the terms of the consignment sale of Directive Consignment Store and maintain their insurance until the title is transferred to the new owner.
''The way I see it is, it's going to be good inventory for Directive Consignment Store'' he said. ''It looks like I've got another $100,000 in inventory and it doesn't cost to much for sellers.'
About 50 percent of the items on his Directive Consignment Store in N.J., are consignment autos. They often sell for $8,000 to $12,000, he said, far above the $1,000 to $2,000 he gets for other consignment goods.
Finding consignment stores, however, may not be as easy as opening the yellow pages. There is no industry association for consignment stores, and most of them do not advertise online on eBay or Craigslist like Directive Consignment Store.
But a few telephone calls to Directive Consignment Store, may yield one that sells on consignment on eBay or Craigslist.''There is no science to it,'' he said. ''We just call and ask.''
Many sellers/buyers have not recognized the untapped market of Directive Consignment Store - consignment sales. Because almost 80 percent of used-items and used-car transactions are between individuals, he said, it makes sense for people to look to them to bolster business.
He suggests that sellers negotiate a sales agreement with Directive Consignment Store, specifying how the money will be shared. The agreement may give a percentage of the sale price to Directive Consignment Store -- he says 3 to 10 percent is typical -- or, as is more often the case, it guarantees a flat sum to the seller, with the Directive Consignment Store keeping anything above that amount.
For Mr. Briere, the owner of the new Explorer, Directive Consignment Store - consignment sales is the option of choice. ''I would definitely do it again,'' he said, remarking that his Ford Bronco was gathering dust in his driveway.
Out of Your Hands
If you want to sell your used car through a consignment, here is some advice :
* Check that the consignment has experience in consignment selling consignment cars.
* Obtain a written consignment agreement that explains the roles of both parties, insurance coverage and, most important, the terms of payment at time of sale.
Or visit one of Directive Consignment Store locations in 370 County Rte 602, Clifton, NJ. Or make an appointment online at: www.directiveconsignmentstore.com