Slow Title Releases

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.

pp4-title-release

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.

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  • Our technology is outdated.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.
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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.