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ngreen's avatar
ngreen
Explorer
May 13, 2013

Selling by consignment

Talked to a consignment dealer to sell a boat - the scarey part is they want us to sign the title over to them - so if they sell it we dont have to run over there with the title - they have been in business along time - but that thought scares me.

Anyone had to sign over their title when they sold by consignment in the past?
  • Sign off on the title and put it in an escrow account at a bank or some attorneys will do this. Your title only leaves the escrow when the money is paid and it clears. You will need to carry the insurance while in consignment, it is your best interest to do it this way. My insurance company covered my rig as though I was using it. You have to be in the real world on this stuff. The dealer is trying to sell your rig. His buyer may be borderline, if there are any delays or he is run around the barn, he very well may walk away. Signing it over to the dealer,(NO WAY)! Suppose he goes bankrupt, your DOA.
  • I just sold my Thunderbird on consignment. They just wanted a copy (front page)of the title. NOT a signed copy.

    In fact, I have to run up there tomorrow to give them the signed original and pick up my check.

    Do Not give them a signed original.

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