Jan. 19, 2023
Resolve to trim the waste with a suite of electronic solutions
Oh, New Year resolutions. They come, they go, they’re forgotten a week later, or they stick and become healthy new habits. This year, we have four resolutions for your registration and title processes that will help you trim the waste and boost efficiency. They’re so effective you’ll want to stick with them far into the future. Only Dealertrack offers a complete suite of solutions to help you work smarter – not harder – for a more profitable 2023.
1. Lose the extra weight
We’re talking about the weight and cost of all that paper cluttering up your back office. Paper-based processes are cumbersome and require a hefty office supply budget to cover paper forms, printing and postage. Manually filing Virginia DMV paperwork adds labor expense to every deal.
Lose the weight by trading your paper trail for an electronic process where documents are completed and submitted online. Dealertrack’s registration and title solutions integrated with your DMS can save up to an average of $9,000 per month per rooftop in unnecessary costs associated with paper and manual processes1.
2. Reduce stress
Buyers are increasingly crossing state lines to find vehicles – but out-of-state deals can be stressful for your back office. There’s a lot to keep track of with state-specific requirements, taxes and fees. The complexity can slow down the process and negatively affect the customer experience and CSI.
Relieve the stress with a 50-state registration and title solution. Dealertrack RegUSA® connects with every DMV across the country so you can create custom deal scenarios based with taxes and fees for every customer. Fast, accurate deals lead to happier customers and higher CSI.
3. Kick bad habits
The habit of waiting 12 to 18 days2 or more for a manual vehicle payoff and title release is bad for business. Vehicles sit idle while you pay an average of $403 in holding costs every day. This includes the cost of storage space, insurance, interest charges, and more.
Kick the bad habit of paying too much in holding costs by getting used vehicles resale-ready faster with Dealertrack Accelerated Title®. The solution connects with more than 110 lenders to speed payoff and lien and title release in as quickly as 4 to 6 days. You will pocket trade-in profits faster and customers will appreciate having a wider selection of used inventory to browse.
4. Spend less money
Inefficient processes cost you money. Your bottom line suffers when you spend money on paper, printing, postage, and even physical trips to the DMV. Your profit on trade-ins dips when you have to wait for a manual vehicle payoff and title release. Your back-end productivity slips when staff scramble to accurately put together cross-border deals.
Dealertrack’s suite of electronic registration and title solutions can help you spend less money by injecting efficiency into every step of the process.
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. We are proud to be the exclusively-endorsed Reg & Title partner of the Virginia Automobile Dealers Association (VADA).
Schedule a no-obligation demo with Kim Haddaway, Regional Sales Manager for Virginia, to learn how Dealertrack’s suite of registration and title solutions can help you trim the waste for a profitable 2023.
1 Based on industry standards for labor costs and Dealertrack and dealer customer data as of August 2022. Not a guarantee of actual savings.
2 Based on average industry timeframe for vehicle title release and vehicle payoff process of 18+ days, as determined by 2021 Dealertrack data.
3 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.