In a consignment transaction, who is the consignor?

In a consignment transaction, the consignor is indeed the owner of the vehicle. This individual or entity provides the vehicle to another party (the consignee, often a dealer) to sell on their behalf. The consignor retains ownership of the vehicle until it is sold, which distinguishes a consignment deal from a typical sale where ownership is transferred to the buyer.

Understanding this relationship is vital in recognizing that the dealer or the consignee does not have ownership; instead, they act as an agent to facilitate the sale for the consignor. The agreement typically specifies terms regarding how proceeds from the sale are handled and what fees might be charged, reinforcing the nature of the transaction where the consignor remains the legal owner throughout the process.