Selling by consignment - Page 2

Tinman2111 · 05-07-2021, 03:43 PM

I suspect you would sell your RV for approx 70k. If 10 percent consignment, that is 7k ! Seems like a huge expense for perceived convenience. I would list and sell myself. Who knows, maybe a nice young family new to RV'ing will be interested and you could always give them a better price than the dealer would. You still sell for more than going through dealer and the happy buyer also pays less than going through the dealer. Win-win in my book. I've sold dirt bikes, boats and cars using Craigslist and Trader and never a problem, just the opposite!

kprun · 05-07-2021, 07:12 PM

So the dealer (CW) sent me a copy of the consignment agreement to look over. Pretty straight forward. I tell him what I want out of it. We've agreed on that amount. He lists it at whatever price he wants and sells it for what he can get. Not a commission arrangement. He agreed to my number so I'm sure he believes he can get close to his price.
A couple things that concern me.
1. Insurance- I keep my insurance on it, they do not insure it while on their lot or being test driven. I will need to check with my insurance co to see what they say.
2. They go over the RV and decide if anything needs to be repaired and if so, my cost. Not sure how I feel about this. It makes sense for them to do that but I would need to trust that they would be honest about things. It's in great condition so I don't think they would find anything major. They have to get my ok to do any work on it. I think I would prefer the potential buyer have it inspected rather than CW.
3. Standard contract gives them 180 days. Nope. They have 0 class A RVs on their lot. 1st time ever. And this is a pretty big dealer. If they can't sell it in 30 days or less they are doing something wrong.
I may decide to sell myself. I'm just looking for a no hassle process and if I can get my agreed upon number, I don't care what the dealer makes off of it.
So, I have a decision to make. I appreciate all of the input from everyone on here.

lwmcguire · 05-08-2021, 12:32 PM

My insurance will not cover random drivers nor sitting unattended when not in use for its intended use, such as on a dealers lot

Be interesting what you find out

kprun · 05-08-2021, 09:27 PM

Quote:

Originally Posted by lwmcguire

My insurance will not cover random drivers nor sitting unattended when not in use for its intended use, such as on a dealers lot

Be interesting what you find out

I'll be talking to my insurance agent Monday. I'll let you know.

Bob Denman · 05-08-2021, 10:13 PM

Does your insurance policy limit coverage just to drivers that are listed on your policy?
Or does coverage extend to,any driver that has permission to drive it?

kprun · 05-08-2021, 10:41 PM

Quote:

Originally Posted by Bob Denman

Does your insurance policy limit coverage just to drivers that are listed on your policy?
Or does coverage extend to,any driver that has permission to drive it?

Bob, I plan to call my insurance agent on Monday to ask that question.

Bob Denman · 05-08-2021, 10:43 PM

Good luck!

lwmcguire · 05-09-2021, 12:09 PM

Quote:

Originally Posted by Bob Denman

Does your insurance policy limit coverage just to drivers that are listed on your policy?
Or does coverage extend to,any driver that has permission to drive it?

Good thing to know, mine limits insurance to drivers listed that have been screened

I have a good rate for a fairly high priced rig so it would make a difference if I wanted to pay more as you well know

kprun · 05-11-2021, 09:06 PM

Another update on my consignment saga. I met with CW consignment agent to negotiate the deal. We were able to work out almost everything that was really important to me. There was one issue that we couldn't resolve and I ended up walking away. We agreed on my price ($65,000). They have a target they would try to get and would keep the difference between my price and their sale price. Here's the problem. At some point the service department would do a complete inspection. If they found something that needed to be taken care of, they would let me know and we would decide to do it or not. If we decided to do it, the cost would come out of my end. I could say no and they would have the option to void the deal. I told them that I wanted them to do that inspection up front, not at "some point in time". As an example, my tires are original. If the service department feels they need to be replaced, I want to know that now. That could have an impact on my asking price. I told them that I wanted the inspection now, identify issues and go from there. I wanted to take care of issues up front, once they accepted the ACE, any changes the buyer wanted, and they agreed to do, came out of their end. I just wasn't comfortable with the way they did this. This is not to imply that there was anything shady. It's their business model. It has to do with the way their service department gets paid for doing the inspection. I didn't understand that but their internal policies are their business. I was uncomfortable with it and decided to sell it on my own. Consignment just wasn't for me.

kprun · 05-11-2021, 09:09 PM

Quote:

Originally Posted by Bob Denman

Does your insurance policy limit coverage just to drivers that are listed on your policy?
Or does coverage extend to,any driver that has permission to drive it?

Bob, I talked with my insurance agent yesterday and he was ok with the arrangement. My policy covers drivers as long as they are licensed drivers and have my permission to drive it.

RJBlanton · 05-12-2021, 07:14 PM

I have bought and sold several RV's thru consignment dealer PPL Motorhomes located in Houston, New Braunfels, and Cleburne TX and can recommend them for easy & fair dealing. If Texas is convenient for you, that is.
www.pplmotorhomes.cpm

tbl5142 · 05-12-2021, 07:23 PM

Just came across this article to shortly after reading your post.

https://rvlife.com/avoid-rv-consignment/

Bob Denman · 05-12-2021, 07:30 PM

Quote:

Originally Posted by kprun

Bob, I talked with my insurance agent yesterday and he was ok with the arrangement. My policy covers drivers as long as they are licensed drivers and have my permission to drive it.

That's the same way that it is handled by New York State policies.

They do that in order to be able to deny a liability claim after a vehicle has been stolen.

mgunnin · 05-12-2021, 08:10 PM

I tried Consignment.
Yes they can take trades and can get financing easier than an individual can.
Today maybe different due to a hot market, but they will call with much lower offers than what you agreed on.
You do not get to see what they sold it for, so you do not know if you been had.
Hot market mark it up and advertise you will pay for an independent inspection of the coach.
Lookout here comes the offers to by. Use your banker to help you through the process. Make addition cash to spend on new coach.
If it does not work you can always fall back on the other option.

DogLovers · 05-12-2021, 10:56 PM

Give us all the info on your RV for sale here. Make, model, year, mileage, condition and tell me what you are trying to sell it for and I'll give you the best advice on maximizing your profit.

kprun · 05-13-2021, 01:58 AM

Quote:

Originally Posted by DogLovers

Give us all the info on your RV for sale here. Make, model, year, mileage, condition and tell me what you are trying to sell it for and I'll give you the best advice on maximizing your profit.

Thanks DogLovers but it's going on RV Trader in the next couple of days.

71_340 · 05-14-2021, 01:34 AM

I just sold my 2019 Four Winds 24BL (Sprinter chassis). I put it on FB market place last Friday at 2200 and I had a commitment 20 minutes later....the general manger of a Mercedes dealership contacted me. He wanted me to bring it to him the day but I told him it has to be Monday. Unloaded my RV, gave it a good cleaning and took it there Monday. They had a check waiting for me and one to pay off my loan. I got 2K more for it then what I paid a year ago.

For me selling worked out well, especially because they had the resources to buy on the spot.

The flipside of the coin is when you sell to a private individual because getting a loan for a RV from an individual is a royal PIA. I am going through this now and the requirements remind me of buying a house and I have excellent credit and a good down payment. I am happy the seller I am buying from is patient and cooperative as he has to do some things as well. I guess I was really ignorant when I thought it is similar to getting a car loan. It is nearly a two week process.

I assume if you consign the dealer will handle financing for a possible buyer.

71_340 · 05-14-2021, 01:37 AM

Quote:

Originally Posted by kprun

Thanks DogLovers but it's going on RV Trader in the next couple of days.

Price it somewhere between NADA low and average retail. When determining value forget all the options they list unless it has FB paint or a diesel generator. All the other stuff doesn't matter or is standard equipment anyway.

List on FB marketplace as well, it's free.

Pete'sMH · 05-14-2021, 01:21 PM

Quote:

Originally Posted by 71_340

Price it somewhere between NADA low and average retail. When determining value forget all the options they list unless it has FB paint or a diesel generator. All the other stuff doesn't matter or is standard equipment anyway.

List on FB marketplace as well, it's free.

I’d list two AC if you added the second one. It’s a significant plus

**EA37TS** · 05-14-2021, 10:07 PM

Quote:

Originally Posted by 71_340

Price it somewhere between NADA low and average retail. When determining value forget all the options they list unless it has FB paint or a diesel generator. All the other stuff doesn't matter or is standard equipment anyway.

List on FB marketplace as well, it's free.

And when you list on FB Marketplace be ready for all the crack pots that call. The DW has done that with a few things.

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