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Consignment

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In the fleet industry, the term consignment is generally used in reference to a vehicle asset that is owned by one party but is in the hands of another party, often for remarketing purposes. As an example, when a fleet vehicle is remarketed by a leasing company, an auction company can handle the sale of the used vehicle at its facility on behalf of the leasing company. In this case the leasing company still owns the vehicle, but because the auction company is handling the storage, transfer, and sale of the vehicle, the vehicle is considered to be consigned. Another example would be a car dealership selling a used vehicle on behalf of a vehicle owner.

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