Before You Sign
Confirm the amount you expect to receive, how it will be calculated, and have any agreed minimum return figure recorded in writing.
Review all potential fees, including marketing, preparation, storage, administrative and cancellation charges, and check when each may become payable.
Confirm who controls the changes to the advertised price, who will hold the keys and documents, and what authority the broker has to use or move the vehicle.
Check exactly how you can end the agreement, how the vehicle will be returned and whether any charges must be paid before collection.
Check whether the agreement claims any right to retain the vehicle if fees or charges are disputed, and confirm who is responsible for insuring the vehicle while it is in the broker's possession.
Confirm how long the agreement will run, whether it can be ended early, and what happens if a proposed buyer does not complete the purchase.
Check whether the broker can change the advertised price without your approval, what consent is required for any price change, and the procedure and time scale for returning the vehicle when the agreement ends.
Logistics & Rights
Understanding the practical arrangements and key contractual terms can help you protect your vehicle and keep a clear record of what has been agreed.
V5C, Keys & Documents
Before handing over the vehicle, confirm who will hold the keys and any documents, why they are required, and when they must be returned. Keep your own copies of relevant documents and record exactly what has been handed over. Remember that the V5C records the registered keeper and is not, by itself, proof of ownership.
Insurance
Before handing over the vehicle, confirm in writing who is responsible for insuring it while it is in the broker's possession, including storage, movement and test drives. Check with your own insurer whether your policy remains valid and whether you need to tell them about the arrangement. Do not assume insurance responsibility automatically transfers when the keys are handed over.
Ending the Agreement
Check the agreement carefully to understand how it can be ended and what notice is required. If you believe the agreement has ended but the vehicle has not been returned, make a clear written request for it's return and keep copies of all correspondence. If charges are claimed, ask for an itemised breakdown and the contractual term relied upon for each charge.
