I consigned my used boat with this…
I consigned my used boat with this business and signed a contract with them to do so. The boat remained on their lot, for sale, for over one year. I left the boat with them for as long as it was necessary to sell it. Under the consignment contract, I expected to receive my settlement roughly 10 days after the sale, since I did not have negative equity. At the business’s request, I authorized my bank to work directly with them to complete the transaction. After the sale, the business delayed my settlement for several months. I was told that payment would not be issued until the title was physically received from my bank, but I did not see that requirement in their consignment contract. As a seller I was put in a precarious position of risk for months. When I ultimately received the final settlement, I was shocked to discover that I was additionally charged for the buyer’s TT&L fees. As a Texan I've never seen a case where the seller pays TT&L. I've never worked with a dealership of any kind that thought this to be proper either. When I raised the issue and requested reimbursement for the TT&L charges, the owner was quick to point out that I “wasn’t charged storage fees,” although storage fees were not listed as an option anywhere on my settlement statement and had never been brought up before. He also highlighted that the business has been charging TT&L to the consignment sellers for many years. After two visits, I received a partial refund, but I still ended up $500 short of full reimbursement because he deemed it appropriate to keep the other half. Does this business eat the TT&L for its new boat buyers?
By Robert