Dealertrack has a new solution for dealers and lenders who want to take advantage of the trend where vehicles with titles sell off at auction lots on first pass almost twice as fast than vehicles without titles. Accelerated Title saves costs by allowing faster, electronic payments to lenders, which enables title release to dealers in as quickly as four to six days, according to the company.
“Identifying profit opportunities for dealers and lenders through our network continues to be top-of-mind,” said Dealertrack Vice President and General Manager Todd Hutto. “We’ve seen titled vehicles sell at a faster clip in our current environment, creating a clear opportunity for dealers looking to move inventory faster, ultimately reducing holding costs to boost productivity.”
“Having a vehicle’s title in hand can make all the difference as to whether I win, lose or draw on a piece of inventory,” said Heather Webster, Controller of Yark Automotive Group in Toledo, Ohio. “Having a turn-key solution that ensures speed and accuracy to secure a title puts the odds of turning a profit more squarely in my favour.”
