when a licensed retail dealer
accepts a consignment vehicle for sale in california
the dealer may only consign vehicles in the name of the registered owner
the dealer may not accept vehicles from other licensed dealers as consignment
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the dealer may accept the vehicle
with a wholesale dealer report of sale
and a promissary note from the buying dealer
if the vehicle sells the buying dealer pays the note & gets the title
if the vehicle does not sell in 45, 60 or 90 days the buying dealer returns it to the selling dealer
with a wholesale dealer report of sale
expenses are negotiated and the
promissary note is made void
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dealer to dealer consignments are not legal in california
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#realcardealerschool
800-901-5950
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