In a consignment agreement, who is referred to as the consignee?

In a consignment agreement, the consignee is the individual or dealer who is managing the sale of the item, which in this case is typically a vehicle. The consignee acts on behalf of the consignor (the seller) to sell the item while retaining possession of it until the sale is completed.

This arrangement allows the consignor to rely on the expertise and market presence of the consignee, who often has better access to potential buyers and the necessary resources for marketing the vehicle effectively. The consignee typically earns a commission from the sale, which is agreed upon in advance, providing an incentive for them to achieve the best selling price possible.

The other options do not accurately describe the role of the consignee in this context. The seller of the vehicle is known as the consignor, the individual providing financing does not directly relate to the consignment process, and the purchaser is simply an end buyer and not involved in the consignment agreement structure.