THE CHALLENGE:
SLOW TITLE RELEASES
Every step that makes your payoff and title release process longer can affect back office efficiency and reduce your profitability.
WHAT’S SLOWING THINGS DOWN:
Inefficient processes
Slow down the title release process, as well as create inaccuracies in payoff amounts.
Inventory on Lot
The longer you wait to receive a title on trade-ins, the more vehicles pile up on your lot compounding costly fees daily.
Slow administration process
Contacting lenders to track and report payoff info, as well as receive status updates, wastes time and resources.
Dealertrack Accelerated Title
Speed up your trade-in titling process to turn inventory faster and reduce holding costs.
Reduce holding costs
Holding costs can be as high as $32/vehicle per day.1 Faster vehicle payoff and title release processing times help you turn trade-in inventory more rapidly — and reduce costs.
Speed up the process
Streamlined workflow processes reduce your trade-in payoff and title release time from 12 to 18 days to as little as four to six days.2
Other Challenges?
- My margins are shrinking.
- My customers are waiting too long.
- I'm paying too many fees.
- I'm drowning in data entry.
- Our technology is outdated.
- I'm basing decisions on bad data.
NEWS AND ALERTS!
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References
1. Manheim, Online Dealer Community Survey, 2016
2. Based on average industry timeframe for vehicle title release and vehicle payoff process of 18+ days, as determined by Dealertrack data.