Category: Registration & Title

Boost Customer Experience with Convenient Deal Processes

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One of the most important things a dealership can do to earn loyalty and repeat business is to respect car buyers’ time during the purchase process. Anything you do to reduce wait times, keep data moving without re-keying, and speed steps of the purchase process help to demonstrate that you appreciate and value your customers. Fortunately, some solutions make it much easier to provide the kind of experience that fosters customer satisfaction.

Get a head start on the car-buying process

You can begin to build convenience into the purchase process early on by providing tools on your website such as monthly payment calculators, credit applications, and interest rate comparison tools. These allow customers to feel more informed and better prepared to move forward with their deal, often before they’ve even asked a question.

The most recent Cox Automotive Car Buyer Journey study found that with each step of the finance process completed online, customer satisfaction increases and time spent at the dealership decreases, so anything that can happen in advance helps improve the car buyer’s experience.

You can also use your website to provide educational information about your deal process to set expectations about the steps to follow.

 

Keep the data digital

Once a car buyer has submitted information online, make sure you have the integrations to ensure that the confirmed data follows them through each step of the deal. Being able to pre-fill numerous fields saves a considerable amount of time as you build out the customer’s digital deal jacket and create an eContracting package for them to sign electronically.

Remaining digital throughout the deal speeds the process and lets you stay focused on getting to know the customer. Any car buyer would rather use their time at the dealership to learn more about their vehicle instead of getting a hand cramp signing stacks of paper documents.

Think about lifetime value

Creating a positive customer experience is not just about getting good CSI scores, reviews, and referrals—it’s also about the repeat business each customer can represent. 81 percent of customers say a positive customer service experience increases the chances of them making another purchase.

It will probably be a while before any given customer’s next vehicle purchase, but they will need routine maintenance and repairs averaging around $600 per year that your service department can provide. To help ensure that your dealership gets that business, be sure to incorporate a handoff from sales to the service department as each deal concludes.

With the right handoff and an ongoing service relationship, your dealership can become the preferred source for the next vehicle sale for that customer and their friends and family.

Learn More
Download the free eBook “Drive Success with Key Operational Shifts” to find out more ways to use technology to help you build lifetime customer loyalty.

 

Sources:
“CX Trends 2022.” Zendesk. www.zendesk.com/customer-experience-trends-2022.
“How to Plan for Maintenance and Repair Costs for Your Car.” AAA. www.aaa.com/autorepair/articles/how-to-plan-formaintenance-and-repair-costs-for-your-car.

Unlock Better Customer Experiences with a Solid DMS

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Consumers have high expectations. Month after month of low inventory, high prices, or high interest rates have given dealers like you an opportunity to step up and be their hero. When you deliver a positive buying experience you can help them overcome some of those frustrations. According to a recent Salesforce survey, 88% of consumers said their experience matters as much as a company’s products or services.¹ Here’s why investing in a high-performing dealer management system (DMS) is more than just a smart move.

Data Continuity and Your DMS

Your DMS is a data powerhouse. A better-integrated solution reduces manual data entry time by pre-filling forms for your customer. Integrated deal processes mean car buyers spend less time at your dealership and reduce the need to re-key customer information multiple times. These workflow efficiencies are just the beginning as better data leads to better opportunities to fine-tune how you run every department within your business.

Utilize DMS Data to Optimize and Improve Workflows

Your DMS holds the key to unlocking business improvements with its ability to track, optimize, and improve the performance of your team. More than simply a giant data repository, your DMS offers insights via reports and metrics like your gross profit as a percentage of sales. When aiming for process and profitability improvements, tracking small improvements can indicate underperforming departments and identify key opportunities for improvements that add up.

Efficient Workflows Make Everyone’s Experience Better

When your DMS is flexible and easy to use, your team can spend less time re-keying data and memorizing codes and more time delivering the next-level customer experience your dealership prides itself on. You’ve probably seen what complicated technology can do to a frustrated team member—new hire or veteran. Bottom line: when you put the focus on the person who needs your assistance, your salespeople tend to shine.

Many DMS technologies are designed to work well on their own. A DMS that improves your entire operation from the back office to the showroom, to HR, finance, and fixed operations through streamlined integrations can deliver the smooth dealership experience that customers expect today.

Driving operational shifts may sound like a tall order, but when you begin with the fundamentals—diving into your data, focusing on the team players, and improving your gameplay—you can deliver the experience your customers are seeking. Your DMS is the one technology you simply can’t overlook when considering what and where to focus within your organization. To learn more, check out this guide: Drive Success with Key Operational Shifts: Smart changes can lead to big dealership wins.

 

Three Tips to Ensure a Great Registration and Title Experience

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If it seems like more of your customers are in a hurry lately, it’s not just your imagination. A study found 39% of consumers have less patience than they did before the pandemic¹. For dealerships, the best ways to set up the experience customers demand are to speed the deal process and avoid any situations that cause time-consuming complications or delays.

That’s true from the moment the customer begins their interaction with you, but let’s look at how you can specifically optimize registration and title steps with technology. After all, the deal is in the home stretch at reg and title, so customers will be particularly aware of whether they’re reaching the conclusion quickly or getting bogged down.

Always Keep Moving

One way to keep the registration and title process running smoothly is to make sure your technology is integrated so that information entered and confirmed earlier in the deal doesn’t need to be re-entered later. You can win with customers by digitizing previously manual processes and setting up the right integrations to make sure that customer and deal data flows from leads to contracts to registration and title.

How annoying is it for customers to have to say the same things over and over? Enough that 93% of people surveyed said they were willing to spend more with companies that don’t make them repeat information.² So, integrations not only reduce aggravation for your staff and customers but can actually put the customer in a better frame of mind for spending.

Avoid Trade-In Complications

Using a trade-in titling solution to get a look at the title before accepting a trade should be a routine step for any deal with a trade-in. If you’ve ever had to unwind a deal due to a surprise co-owner on the title, you know that what you don’t know can hurt you – and lead to the opposite of a great customer experience.

When you can see all the title details up front, you can go into each trade with your eyes wide open and work with the customer to straighten things out before they become a problem. Also, the faster you can take in a trade and get its title in hand, the more inventory choices you have available for the next customers!

Optimize Your Processes

Last but not least, don’t forget to attend to technical details like default settings, templates, and automation to give your workflows extra speed and help your staff focus more on the customer and less on repeating routine tasks. Take full advantage of your integrations and connections with state DMVs and lenders to make your registration and title workflows fast, efficient, and accurate for you and your customers.

Learn More
Download the free eBook “Drive Success with Key Operational Shifts” to find out more ways to use technology to enhance the customer experience – and your profitability.

 

1“The State of Customer Service Report.” April 14, 2022. Netomi. www.netomi.com/the-state-of-customer-service-2022
2“CX Trends 2022.” Zendesk. www.zendesk.com/customer-experience-trends-2022

Four Ways Electronic Reg & Title Processing Can Save Your Dealership Money

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As more and more state motor vehicle divisions adopt electronic registration and titling, dealerships find themselves overhauling their back-office processes to keep up. It can seem daunting, but digitizing reg and title can lead to cost savings in several key areas – some of which might surprise you!

Right there in black and white

This is one of the more obvious expenses related to manual registration and title, but the switch to online submission eliminates a lot of paper forms and copies from your office supply budget. When you consider the ink and toner savings as well, the economies increase.

With electronic reg and title, the “documents” to be sent to the DMV are completed online. In some states like California, customers can even digitally sign. All of that equals less paper, less fumbling for pens, and a more streamlined process for the dealership and the car buyer.

Rage against the machines

With paper receding into the background, you can also save on the costs of purchasing and maintaining many of your dealership’s printers, copiers and even fax machines. Imagine a world without paper jams, connection errors, and toner spills!

Electronic reg and title enables you to submit transactions online directly to the DMV with much of the customer and vehicle information coming directly from earlier stages of the deal process via integration with the DMS.

From Point A to Point B

That direct online submission means that the DMV gets what they need immediately, without the need for mailing, shipping, or sending a runner to get the paperwork where it’s headed. No need to worry about things like making an appointment at the DMV or having someone stand in line to drop off paperwork. No more postage or shipping costs. Think of how those savings add up!

More than just a parking spot

According to an NCM Associates Group Study in 2019, it costs your dealership an average of $37 in holding costs per day, per vehicle on your lot. Now multiply that by the average number of cars you sell each year. That’s what it costs you in overhead, floorplan and interest just to have a vehicle sitting idle – and those costs erode your profit margin and affect your bottom line.

Anything you can do to get a vehicle off the lot faster helps save on holding costs. For newly purchased vehicles, a fast and simple registration and titling solution can help get each customer out the door as quickly as possible.

Using a trade-in titling solution is another way to reduce holding costs. The sooner the dealership can get a clear title in hand, the sooner they can re-sell off the lot or at auction.

Choosing your electronic reg & title solution

Your registration and titling solution should give your back-office staff the tools they need to create and submit transactions quickly and easily. Look for a solution that integrates with your DMS for less data re-entry and improved accuracy. And consider using a trade-in titling solution to maximize your cost savings from trade-in to vehicle sold.

Want to learn more about how you can save on reg and title costs with Dealertrack? Request a live demo!

Unmasking “Double Agents” Before Taking Trade-Ins

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It was the kind of trade-in that would get the attention of any dealer in the city. With low mileage, sleek lines, and a purring engine, it had “fast resale” written all over it. But this car was a double agent, hiding a secret on its title that threatened to cause heartbreak for its owner, the dealership, and the next eager buyer.

Luckily, the dealership had seen its share of double agents before. A less seasoned dealership might have waited weeks before receiving the title and learning of the customer information discrepancies it contained. But this dealership was primed and ready with a trade-in titling solution that offered a quick peek at the title before there were commitments on either side.

A Surprise No One Wants

There are good surprises and bad surprises in life, but what every dealership wants to avoid is a trade-in title surprise. That’s what happens when the customer’s name or address is wrong on the title – or worse, there’s a co-owner or co-signer that no one mentioned. When you’re handling your payoff and title release manually, these unwanted surprises may take weeks to pop up. They can delay remarketing or even unwind both the original deal and the trade-in resale.

Shining A Spotlight on Title Details

Dealertrack Accelerated Title allows dealers to see the full details of titles held by top auto lenders ahead of taking in a trade. That information helps the dealership get ahead of any needed title changes that could hold up resale or unwind a deal – and they can choose not to accept a trade depending on what they uncover.

According to the 2020 Dealertrack Online Dealer Community Survey, on average about 53% of vehicles taken in on trade each month require title acquisition, which means more than half of trades could be hiding payoff and title surprises that need to be addressed.

Not only can Accelerated Title help you identify and defuse double agents among your trade-ins, but it also helps complete payoff and title release up to 70% faster than manual methods, so you get a clear title in as little as 4-6 days. Full title details plus expedited title release means you can confidently turn a trade and realize its profit potential without lingering unknowns casting a shadow over the deal.

Register for a brief, live demo to find out how Accelerated Title can help your dealership avoid double agents. 

So, You Want to Learn Reg & Title for Every State…

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Let’s say you’ve decided to become your dealership’s expert on every possible registration and titling scenario for all 50 states (and don’t forget the District of Columbia). You were a quick study in school, so it’s possible, right?

You’re probably thinking that memorizing 51 sets of calculations isn’t so bad. We agree – you could probably do it if it stopped there.

But don’t forget there are 3,141 counties in the U.S. (we’re including county equivalents like boroughs, census areas, and parishes in that number). Some of them also charge registration fees, but not all of them do, so that’s more to remember.

Then there are the individual municipalities. Of the 19,495 incorporated cities, towns and villages in the U.S., there are some that add fees or taxes to a vehicle purchase and others that do not. You’re going to need to know which are which.

And as they say in TV ads: But wait, there’s more!

A quick scroll through the National Council of State Legislatures list of Registration and Title Fees By State reveals many more variables that different states use to calculate their fees.

Some states start with a flat base registration fee, but they’re the exception rather than the rule. Here’s a selection of additional factors used to determine vehicle taxes and registration fees:

  • Vehicle weight (weight classes/ranges vary widely from state to state)
  • Vehicle body type
  • Vehicle class/type
  • Vehicle age
  • Electric and/or hybrid vehicle fees
  • Electric and/or hybrid vehicle discounts
  • Fee discounts or exemptions for seniors
  • Air quality research fee
  • Transportation or infrastructure improvement fee
  • Decal fee
  • Horsepower
  • Multi-year registration discounts
  • MPG rating
  • Registering a vehicle from another state
  • Special plate
  • Fuel other than gas or diesel (but not electric)

No two states use the same criteria for determining registration fees and taxes. How are you feeling about that plan to memorize every deal scenario now?

The reality is that it takes technology and close coordination with the motor vehicle bureaus from each state to ensure that a dealership has access to reliable cross-border tax and fee calculations to quickly drive the best deal forward. So instead of trying to commit every state’s tax and fee structure to memory, use that research skill to choose the best solution to get your back office ready for more out-of-state customers.

Click to find out how RegUSA® helps make cross-border deals simple.

How A Better Reg & Title Workflow Helps Your Dealership’s Bottom Line

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For every vehicle your dealership sells or leases and each one you take in on trade, there’s registration and title work to be done. These essential back-office tasks are sometimes underappreciated as an opportunity for improving the dealership’s daily workflow efficiency and providing faster, more satisfactory service to customers.

Manual reg and title processes are very time-consuming, involving numerous phone calls, faxes and runners going in person to motor vehicle offices. It all takes time – much of it spent waiting.

Registration and title technology solutions have helped reduce costs, increase speed and efficiency, improve compliance – and cut down on that waiting time. Better yet, 3 out of 4 dealers report that technology innovation improvements have been followed by increased profitability.

We know that GMs are always looking to increase margin, which means they are looking to their controllers to reduce costs to help achieve that goal. That’s where it helps to provide the dealership’s title clerks and back office operations with more intuitive solutions to make the reg and title process faster, while still ensuring compliance.

Here’s the range of total titling processes your dealership needs for optimum efficiency:

  • Trade-In Titling – Technology solutions help streamline and shorten the time for vehicle payoff and title or lien release, which in turn helps your dealership avoid payoff surprises, save on holding costs, and turn inventory more quickly.
  • In-State Registration and Title – In states with electronic registration and title, you can now process motor vehicle transactions online from your office, in real time. Faster transactions and same-day registration and titling help increase your back-office productivity.
  • Out-of-State Registration and Title – With more and more customers finding your dealership online and purchasing cross-border, technology support is invaluable for smooth registration and titling for customers from across the country.

Technology providers continue to innovate and improve registration and title workflows with input from dealerships. Make sure to review your solutions from time to time to make sure they cover your registration and titling needs and provide the speed, efficiency, transparency and compliance you require.

Explore the range of registration and titling solutions that Dealertrack provides.

Car Buying Hits the Road

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Even before the current inventory crunch, dealerships have been promoting their listings beyond their immediate market area to reach as many consumers as possible. Thanks to online shopping, car buyers can locate the exact vehicle they want, and they are increasingly willing to complete those purchases regardless of where the vehicle is located.

2020 Cox Automotive Car Buyer Journey research found that car buyers have been steadily increasing their buying radius over the past three years, nearly doubling it from an average of 45.9 miles in 2018 to 89.3 miles in 2020. So, it’s no surprise that Dealertrack shows an approximately 80 percent increase in out-of-state registration and title transactions over the past five years.

With that in mind, it’s more important than ever for dealerships to be prepared for purchases – and even trade-ins – from customers who live in other states. There’s technology available to help at each step of those processes. Let’s explore how these tools work through a hypothetical out-of-state sales scenario.

Say a dealership in Georgia has a vehicle listed online and a buyer in North Carolina decides he’s willing to drive two states over to get it. This buyer is also planning to trade in his existing vehicle as part of the deal. Here’s how technology can streamline the process:

Trade Insights

First, there’s the trade-in. North Carolina isn’t a consumer title holding state and the loan isn’t completely paid off, so the lienholder still has the title. But there’s a potential complication: the customer happened to mention that he doesn’t remember if his estranged ex-spouse is on the title or not. If she isn’t, the trade-in can proceed without incident. If she is, the customer will have to try to get her current contact information — and obtain her permission for the trade.

It’s a desirable trade-in vehicle, which could make many dealerships inclined to just take the gamble and accept the trade without knowing the title status. But if the ex is on the title and refuses to allow the trade, unraveling the trade and possibly the new purchase deal could be costly for both the dealership and the customer.

But this dealership uses a software solution for trade-in titling that eliminates that uncertainty. With the click of a button, they can pull up an image of the title and find out whether or not there’s a co-owner listed. In this case, the car buyer’s worry was unfounded: he’s the only person listed on the title.

Reliable Payoffs

The trade-in titling solution also helps the dealership calculate a date-specific, reliable payoff amount from the lender for the customer’s remaining loan balance, all without picking up the phone. And when it comes to completing the payoff with the lender, this solution allows the dealership to submit payment via ACH, streamlining their process and eliminating the need to cut and mail checks and wait for them to arrive.

Payment Accuracy

Now that the dealership can confidently make an offer for the trade, next on the agenda is figuring a reliable payment that includes the specific taxes and fees for North Carolina residents. To quote the right payment amount to the customer, it’s vital to know that North Carolina charges a highway use tax rather than sales tax and that there’s a flat fee for vehicles purchased outside the state.

Rather than relying on Google to help them piece together the tax and fee situation at the North Carolina DMV, this dealership uses an electronic 50-state registration and title solution. The solution can help the dealership as early as the desking stage by providing up-to-date taxes and fees for the state, county and municipality where the car buyer lives to help make sure the payment doesn’t change.

Reg & Title Without Borders

With all that taken care of, we’re almost at the finish line. Or are we? There are still North Carolina title and registration considerations for the new vehicle. Fortunately, the same out-of-state registration and title solution that helped with the payment calculation also provides step-by-step guidance and forms to submit titling and registration transactions for any state. That means the dealership can send the customer on his way without giving him an unwelcome errand to run when he gets back home in his new vehicle.

Realizing Full Profitability on the Trade

Finally, there’s that trade-in vehicle the dealership acquired, which they know is in demand. To ensure that they realize as much of that profit potential as possible, it’s important make sure that the clear title is on its way so it’s ready to go out onto the lot as soon as it’s reconditioned.

The problem is that manual payoff and title release can lead to the vehicle sitting on the lot waiting for a clear title. Dealertrack data shows that the average industry timeframe for the vehicle title release and payoff process is 18 or more days. In the meantime, holding costs accumulate each day, chipping away at the profit potential.

But remember when we mentioned that this dealership used their trade-in titling solution to initiate the payoff via ACH? That same solution speeds title release, so they can expect to have the title in hand within four to six days. Faster title release helps ensure faster inventory turn and improved cash flow.

Completing Your Digital Reg & Title Toolkit

Want to see how Dealertrack’s out-of-state registration and title solution RegUSA® can work with our trade-in titling solution Accelerated Title to bring the convenience of this scenario to life at your dealership? Schedule a brief, live demo with one of our specialists today.

Complete Your Toolkit with End-to-End Titling Solutions

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Does your dealership have all the technology solutions necessary to handle your most pressing registration and titling needs? Are you still using manual methods to handle part of your registration and titling workflow for vehicles taken in on trade, those delivered to in-state customers, and/or your cross-border deals?

The industry runs on speed and efficiency. Using a comprehensive suite of registration and titling solutions can help you streamline your workflow, improve customer service, and maximize profitability.

Here’s what you gain from adding end-to-end registration and title technology solutions to your toolkit:

Faster Trade-In Title Processing
The sooner you accomplish payoff and title release for a vehicle taken in on trade, the sooner you can re-sell or auction it. With Dealertrack Accelerated Title®, you can speed title release on trade-ins from the industry average time of 12-18+ days down to as little as 4-6 days. That helps speed inventory turn and reduce the holding costs that come from having the vehicle sit on the lot. With title in hand, it’s nearly twice as likely that the vehicle will sell on first pass at auction.

Cross-Border Confidence
There’s no need for uncertainty when it comes to handling reg and title for out-of-state customers who find your dealership online. RegUSA® helps simplify your out-of-state workflow and provides certified, compliant registration and titling processing for any state. Its enhanced functionality guides you smoothly through each out-of-state deal with checklists, deal comparisons tools, customized forms and real-time fee calculations to help you provide a convenient, full-service experience for every customer.

Back-Office Workflow Efficiency
For in-state title processing, you’ll gain powerful, user-inspired transaction and workflow management tools for a faster, more accurate process that helps to maximize profit opportunity. We back you up with industry-leading support so you don’t have to navigate challenging transactions alone.

Learn more about how Dealertrack Total Titling Solutions can give your dealership all the tools it needs for registration and title scenarios. Register for a demo today.

Improving Your Reg & Title Workflow to Help the Bottom Line

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As dealerships look for ways to adapt their processes to keep auto sales moving in new ways, registration and titling may get overlooked. But because every sale, lease and trade-in vehicle you handle includes reg and title work, it’s an area where there’s opportunity to make process improvements. Better speed, efficiency and customer service can help preserve the bottom line.

To reduce costs and increase margin, look at the technology solutions that can make registration and title work faster and easier – all while keeping up with compliance. Let’s examine the three types of registration and titling processes that dealerships can address today:

1. Trade-In Titling
With inventory low and cash flow tight, trade-ins are an important lifeline for dealerships – assuming there are no payoff surprises and they can be auctioned or re-sold quickly. Using a technology solution to view title details in advance and speed up payoff and title or lien release can help dealerships turn inventory more quickly, save on holding costs and keep cash flow moving.

2. In-State Registration & Title
When many DMVs were closed or restricted last year, manual registration and title processing practices that involved phone calls, faxing and in-person runners to the motor vehicle office mostly came to a halt. States with electronic registration and title had the opportunity to show just how valuable that service really is. Today, more than 30 states are electronic registration and title (ERT) enabled – and most of the remainder have plans in the works to catch up. Using a technology solution for reg and title to process motor vehicle transactions from the dealership’s office is a boon for productivity.

3. Cross-Border Registration & Title
Digital retailing has helped dealerships keep sales going by showcasing inventory online and using technology to facilitate the deal process. The wide net cast by dealers’ digital retailing efforts means that out-of-state customers have been increasing each year. Having technology available to guide the dealership’s back office staff through the myriad taxes and fees that vary by the customer’s state, county and municipality helps improve deal accuracy and make deal completion faster, easier and more customer friendly.

When choosing technology providers to help keep your business on track, don’t forget to optimize your registration and titling processes as well.

Find out how registration and title solutions help get the deal out the door while protecting your bottom line.