Form MV560 Dealer Consignment Vehicle Contract - Delaware

What Is Form MV560?

This is a legal form that was released by the Delaware Department of Transportation - Division of Motor Vehicles - a government authority operating within Delaware. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is a Form MV560 Dealer Consignment Vehicle Contract?A: The Form MV560 Dealer Consignment Vehicle Contract is a legal agreement between a dealer and a consignor for the sale of a vehicle.

Q: Who uses the Form MV560 Dealer Consignment Vehicle Contract?A: This form is used by dealers and consignors in Delaware.

Q: What is the purpose of the Form MV560 Dealer Consignment Vehicle Contract?A: The purpose of this form is to establish the terms and conditions for the consignment sale of a vehicle.

Q: What information is typically included in the Form MV560 Dealer Consignment Vehicle Contract?A: This form typically includes information about the vehicle, the consignor, the dealer, the sale price, and the commission to be paid.

Q: What happens if the vehicle is sold under a consignment agreement?A: If the vehicle is sold, the dealer will typically deduct the commission and any agreed-upon expenses from the sale proceeds, and the remaining balance will be paid to the consignor.

Q: What happens if the vehicle is not sold?A: If the vehicle is not sold within the specified period of time, the consignor may choose to extend the consignment agreement or retrieve the vehicle.

Q: Are there any risks involved in consigning a vehicle?A: Yes, consigning a vehicle carries some risks, as the consignor may be liable for any damages or accidents that occur during the consignment period.

Q: Is the Form MV560 Dealer Consignment Vehicle Contract legally binding?A: Yes, this contract is a legally binding agreement between the dealer and the consignor.