Trending Now – Post-Pandemic Predictions for Increased Loan Servicing

“More trade-ins, more accidents and an anticipated rise in total loss all add up to more work for loan service areas. The time to prepare is now, and the good news is that Accelerated Title is easy to adopt. Let technology work harder and smarter for you — while your team can apply more time and attention to other work.”

– Robert Christini, Sr. Lender Solutions Expert at Cox Automotive Inc.

ACCELERATED TITLE HELPS LENDERS

  • Reduce burden on internal operations by digitizing the payoff quotes and payment process
  • Improve revenue by reducing the number of short-pays received/written off
  • Automate payment processing, reconciliation and title release
  • Shorten payoff and title release times:
    • For trade-ins: go from industry avg. 12-18+ days to as fast as 4-6 days1
    • For total loss: take the industry avg. 45-90+ day timeline from claim to salvage auction down to as fast as 30 days2
1Based on average industry timeframe for vehicle title release and vehicle payoff process of 18+ days, as determined by 2021 Dealertrack data.

2Based on Cox Automotive salvage auction partners and IAA internal data analysis, 2021.

Past Articles

Trend No. 3

IS THE TRADITIONAL
PAYOFF & TITLE RELEASE
WORKFLOW HOLDING YOU BACK?

Trend No. 2

The Vehicle Inventory Crunch
Puts the Focus on Faster
Payoff & Title Release

Trend No. 1

More Negative Equity.
More Total Loss Transactions.
More Complexity.
ARE YOU READY?
Let's meet for a no-obligation strategy discussion about your loan service operation.

Since we already service your titles, optimizing your payoff & title release process is quick and easy.

  • This field is for validation purposes and should be left unchanged.