The automotive industry is evolving as more sales are moving online and interstate purchases and sales continue to grow. Dealer demand for more streamlined processes and efficient operations is paramount to a stronger bottom line. One of the critical challenges faced by auto dealers is the slow and cumbersome titling process, particularly when acquiring vehicles.
Thankfully, there is an industry-changing solution solving this problem – the National Digital Titling Clearinghouse. This innovative system, pioneered in West Virginia and now available nationwide, has transformed the titling process, creating a more efficient and streamlined experience that saves time, money and makes managing your inventory easier than ever.
Creating a National Digital Titling Clearinghouse
The traditional vehicle titling process for years has centered around frustratingly long processing times. It was manual and paper-based, leading to hundreds of titles in the queue for up to 60 days. Recognizing this bottleneck, West Virginia created the nation’s first National Digital Clearinghouse, a 50-state clearinghouse to tackle the challenges plaguing the titling process. Now, auto dealers can acquire titles, in as little as a day, even when the vehicle is in another jurisdiction.
“I’m exceptionally proud of the West Virginia DMV for leading the nation with this unprecedented technology,” Commissioner of the West Virginia Division of Motor Vehicles Everett Frazier said. “This new enhancement, which allows a reduction in title turnaround times from well over a month to just a few days at most, wouldn’t be possible without the team of dedicated employees I have in place at the DMV, the innovation through our partners Champ Titles and Tyler Technologies, and the continued support from Governor Jim Justice and Secretary of Transportation Jimmy Wriston, P.E.”
Titling has long been a cumbersome process that required significant labor hours, putting a drain on operational efficiency and dragging down bottom lines. Now through the Clearinghouse, buying vehicles and acquiring titles in your name so those vehicles can be sold as part of your inventory is a fully digital same-day process for your title teams. Titling through the Clearinghouse enables you to become more efficient and more profitable than ever.
Streamlined Operations for Dealers
The benefits of the Clearinghouse are abundant. Auto dealers now have the power to expedite the middle process of inventory management, regardless of where their business is located or from where the vehicle being purchased is originating, which is critical to maintaining swift operations.
In the past, the lengthy waiting periods led to delays in completing sales and transactions, disjointed operations, dissatisfied customers, and potential revenue loss. However, this new National Clearinghouse takes what was once the frustration of auto dealers nationwide and puts the power of time and efficiency back in their hands by creating a seamless experience.
Other operational benefits include:
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Enables you to purchase vehicles from anywhere in the country, quickly title them into your name, so you can sell them immediately.
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Allows you to securely store and access an authentic, fully digital title ready to use or print when needed. No more lost hard copies!
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Reduces mailing costs by eliminating paper, as the entire process is 100% digital.
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Uses a proven technology unmatched in scale, speed or stability, enabling your business to grow with the Clearinghouse as much as desired.
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As more than 45 companies in the auto industry and from around the Country have shared best practices with the state’s DMV as members of the Clearinghouse Advisory Group, this capability was built for your industry with industry support.
A New Frontier
Titling is the final frontier toward true operational efficiency for auto dealers. With the Clearinghouse now available to dealers nationwide, a streamlined and efficient titling process, saving time, money, and resources, has arrived.
As more members join, the automotive industry is set to witness a transformative change, making the National Digital Titling Clearinghouse the new "easy button" for titling processes.
If you’re interested in signing up for the National Digital Titling Clearinghouse, you can join today here.
