Reg & Title

Get Deals Done Faster with Reg & Title Solutions

Issue link: https://resources.dealertrack.com/i/1487649

Contents of this Issue

Navigation

Page 0 of 0

Get deals done faster with Reg & Title Solutions Save more, deal more with a suite of electronic solutions Every penny counts in today's market of high interest rates and the risk of a recession. While customers are still lining up to buy new vehicles, used car prices are dropping. Your dealership needs to drive as many deals as possible — as efficiently as possible — to boost revenue while holding down back-office costs. Only Dealertrack offers a complete suite of registration and title solutions to finalize deals faster while helping to save time and money. Get used vehicles resale-ready faster. A manual vehicle payoff and title release process takes 12-18 days 1 or more for most dealerships. During that time vehicles can't be sold, and dealers shell out an average of $40 2 in holding costs every day for every vehicle that sits idle. That includes the cost of storage space, labor, insurance, interest charges, and more. Now multiply that by how many trades you take in every year and think about how inefficient processes are delaying resale and eating into profits. The Dealertrack Accelerated Title ® solution connects with more than 110 lenders to speed payoff and lien and title release 70% faster 1 , so dealers gain lien and title release as quickly as 4 to 6 days. Faster lien and title release and minimized holding costs lead to a better bottom line while maintaining a wider selection of used inventory from trade-ins. Gain back-office efficiency. Paper-based processes are time-consuming and costly. Filing DMV paperwork adds labor expense to every deal, and combined with money spent on paper, printing, postage, and even physical trips to the DMV, your bottom line suffers. You can gain back-office efficiency when you transform your paper trail into an electronic process where documents are completed and submitted online. Dealertrack's in-state registration and title solution helps you submit transactions 35% faster when integrated with your DMS 3 , helping you submit transactions to the DMV in under 4 minutes 4 . Efficient processes pay off by helping you get more deals out the door in less time. Close cross-border deals with ease. Inventory shortages continue and that means more buyers are crossing state lines to find vehicles. In fact, the average buying radius for shoppers has nearly doubled over the past four years to more than 89 miles 5 . Out-of-state deals can be confusing with state-specific requirements, taxes, and fees. There's a lot to keep track of, which can slow down the back office and negatively affect the customer experience. A 50-state registration and title solution relieves the burden on the back office. Dealertrack RegUSA ® helps you deliver customer-specific deal scenarios based on taxes and fees so you can ensure the right deal for the dealership and the customer, no matter where a customer lives. Whether you're selling vehicles in-state or out-of-state, or taking vehicles in on trade, Dealertrack can help you with all your reg and title needs. Schedule a no-obligation demo today to learn how Dealertrack's suite of registration and title solutions helps you save more, deal more. 1 Based on average industry timeframe for vehicle title release and vehicle payoff process of 18+ days, as determined by 2021 Dealertrack data. 2 Data based on user input and calculations using Dealertrack's Accelerated Title Savings Calculator as of July 2021 and are not a guarantee of actual savings. 3 Based on Dealertrack DMS configurations 4 Dealertrack User Timing report through Google Analytics 9/30/21 to 9/30/22. 5 Cox Automotive 2021 Car Buyer Journey research ® Registration & Title Solutions

Articles in this issue

Links on this page

view archives of Reg & Title - Get Deals Done Faster with Reg & Title Solutions