Consign: To give over to another's care
(According to Webster's Dictionary)
If you've decided you want to sell your motorcycle, you may want consider the benefits of consigning it to sell. If you run an ad in the paper,or one of the numerous "Trader" type magazines, you will personally have to field every call, answer the same types of questions over and over, have strangers come to your home or workplace, and negotiate your selling price. Some people find this "invigorating", most find it very uncomfortable. You do have an option. Consign your bike to us and we'll handle all of that, and more, for you.
How does a consignment with MC Cycles work?
A seller contracts with us to consign their motorcycle. Photos are taken and a complete description of the vehicle is posted on our website: www.mc-cycles.com Advertising is also done in Cycletrader, Ebay & Powersites. Buyers come in or contact us to view the vehicle. No road tests are ever allowed due to insurance requirements. We do all the negotiating with the buyer based on the seller's limits. When a price has been agreed upon, we handle all the DMV paperwork for both seller and buyer.
We then pay the seller the purchase price, less commission.
How much is your commission and what other fees do you charge?
MC Cycles currently charges a 10% commission on the selling price or a flat fee of $800.00 dollars, whichever is greater. Other fees that may apply are DMV seller's fees (i.e. non-current or missing registration, lost title, lost sticker, un-cleared citations, etc), seller approved repairs, special "flooring" arrangements.
How long is the contract?
The length of the contract can be negotiated, however the standard is 90 days. With a fair price and advertising, most motorcycles will sell sooner than that.
How many bikes are in your Showroom?
MC-cycles can "floor" up to 80 motorcycles at any one time and floor space is on a "first come, first served basis".
What if you don't have room for my bike in the Showroom?
If at any time we can not accommodate your bike in our Showroom, we will add your name to the stand by list and you will be contacted as soon as space is available. We may also post it at our discretion on the "bikes on the waiting list" page.
Will MC-cycles advertise my vehicle?
Every effort is made to provide maximum buyer exposure on every vehicle we consign.
We can't guarantee that your vehicle will sell, but we can guarantee that we will make every effort to make that happen.
What information do you need when I consign?
When you consign your vehicle to us, you will be asked about the history of the bike. Certain things, by law, must be disclosed to a buyer such as whether the vehicle is a salvage, previously a rental or law enforcement vehicle, lemon law vehicle, flood/fire/frame damaged vehicle. Having a written service history is not required, but is suggested, as it is proof that your vehicle has been well maintained.
We will need to know the price you want your bike listed at and the lowest price you will accept. If the bike is currently financed, we will need the lien holder's name and phone number. We will need to see and verify title/registration and insurance on the vehicle.
What if I decide to lower the asking price?
Simply fax/mail/bring us a signed letter requesting that we lower the price. If we receive this request via fax or mail, we will call you to verify the change prior to making the change.
What happens when I bring my bike in?
* We will inspect the vehicle as a buyer would - from front tire to brake light and everything in between.
For Motorcycle Consignments Only:
Although test rides are not allowed by potential buyers, the vehicle will be taken for a test ride to verify its condition and road-worthiness.
All MC Cycles test riders have valid FloridasDrivers' licenses with M1 endorsements and are insured.
* We will make suggestions that may improve the salability of the vehicle (repairs/maintenance).
* We can suggest an asking price, but you will have the final decision.
* You will fill out and sign the Consignment Agreement, provide a copy of the bike's registration.
* Photos will be taken and posted on our website along with a description of the bike.
* We will perform a Multi-Point Safety Inspection on your vehicle - if any problems are discovered during the inspection, we will notify you.
We make every effort to get your bike posted on the website within 48 hours of listing with us
What happens when my bike sells?
When your bike is purchased, we do all the paperwork necessary to transfer ownership to the buyer. When the sale is completed, we will let you know so you can cancel your insurance. You will receive the proceeds from the sale, less our commission and any repairs or fines, within 20 days of the completed sale (per DMV regulations). Most people receive their check within 10 days...the exception usually occur when a payoff is made to a lienholder. We have to wait until the lienholder sends us the cleared title in order to complete the sale with the DMV.
What happens if at the end of the 90 days my bike did not sell?
We are confident that this will most likely not happen, but in the event that it does, you have the option to renew the contract at no cost, or you could simply retrieve the vehicle, and pay a discounted rate for any detailing, advertising, or servicing provided to your bike.