Navigating Titling in 2023: How Dealerships are Staying Ahead
In the competitive realm of the automotive industry, staying ahead is not merely about keeping pace with the latest car models or technological advancements. It extends into the intricate, often convoluted, world of Out-of-State vehicle titling and registration. As we sail through 2023, the challenges tied to titling continue to evolve, spurred by changing regulations, technological shifts, and the ever-present need for efficiency and accuracy in processing. Amidst this complex landscape, Automotive Titling Company (ATC) emerges as a beacon of simplification and efficiency, guiding dealerships through the Out-of-State titling whirlwind with a suite of tailor-made solutions.
The Evolving Titling Terrain:
Titling in 2023 isn’t what it used to be. Several factors contribute to the evolving challenges:
- Regulatory Dynamics: The rules and regulations governing vehicle titling are in a constant state of flux, with each state having its unique set of guidelines.
- Technological Innovations: The digital transformation wave has touched the titling domain, opening doors to automation but also setting a new bar for efficiency and accuracy.
- Consumer Expectations: Today’s buyers are informed and expect a seamless, quick, and transparent titling and registration process.
ATC’s Strategic Approach:
ATC stands at the confluence of technology and expertise, offering a strategic approach to navigate the Out-of-State titling maze:
- Expertise at the Helm: ATC’s seasoned team of professionals stay on top of the ever changing regulations, ensuring compliance across the board, no matter how turbulent the regulatory waters get.
- Tech-Driven Solutions: Harnessing the power of technology, ATC offers solutions like the DMV Data API and DMV Fast Data, which streamline data access and processing, making Out-of-State titling a breeze.
- Customized Offerings: Understanding that one size doesn’t fit all, ATC provides customized solutions to meet the unique needs and challenges of each dealership.
Staying Ahead with ATC’s Solution:
The road to successful Out-of-State titling in 2023 is laden with potential pitfalls. However, with ATC as your Out-of-State titling partner, dealerships are not just navigating the challenges but staying a step ahead. ATC is the industry-leading 50-State Solution for Out-of-State titling, revolutionizing the way dealerships navigate the complexities of multi-state transactions.
- Accelerated Processes: ATC’s tech-driven solutions significantly cut down the processing time, accelerating the sales cycle and enhancing customer satisfaction.
- Reduced Error Margin: Automated data retrieval and processing reduce the chances of errors, ensuring accurate and compliant Out-of-State titling.
- Cost Efficiency: The streamlined processes offered by ATC not only reduce the operational burden but also translate into cost savings, making a noticeable impact on the bottom line.
Navigating the complex world of Out-of-State titling in 2023 demands a blend of expertise, technology, and a keen understanding of the evolving regulatory landscape. ATC embodies this blend, providing dealerships with the tools and support they need to not just navigate but excel in the titling domain. Explore how ATC can propel your dealership ahead in the titling journey, ensuring compliance, efficiency, and satisfaction at every turn. Reach out to us today to discover how we can tailor our solutions to align with your dealership’s titling needs and objectives, steering you clear of the Out-of-State titling tumult towards smooth and successful transactions.
Eliminate the Maze: ATC’s Simplified Path to Out-of-State Titling
In the automotive sales realm, extending your dealership’s boundaries beyond the local turf is a strategy that bears the promise of increased sales and a diversified customer base. However, this strategy brings along the intricate process of out-of-state titling, a route often laden with bureaucratic red tape and regulatory hurdles. The quest for compliance with each state’s unique set of titling regulations can easily morph into a complex maze that demands a significant chunk of your time and resources. This is where the Automotive Titling Company (ATC) steps in, offering a simplified, streamlined solution
to navigate through the out-of-state titling maze.
The Complicated Course
The course of out-of-state titling is far from straightforward:
The titling regulations vary widely from one state to another. Keeping up with the evolving regulatory landscape across multiple states is a herculean task.
The paperwork required is both extensive and precise. A minor error can trigger a cascade of delays, pushing your sales cycle off track.
With each state having its deadlines for document submissions, the tracking becomes a constant race against time.
The ATC Advantage
ATC is engineered to alleviate the hassles inherent in the out-of-state titling process. Our services are designed to navigate through the regulatory intricacies with precision and speed. Here’s a glimpse of the ATC advantage:
- Expertise in Navigation: Our seasoned team is adept at maneuvering through the diverse regulatory landscapes, ensuring every document is processed accurately and in compliance with the respective state’s regulations.
- Tech-Driven Efficiency: Our innovative solutions like the DMV Data API and Self-Service DMV Fast Data harness the power of technology to expedite the data access and processing tasks, slashing the time spent on manual data retrieval and calculations.
- Deadline Mastery: We have honed the art of deadline management to a tee, ensuring every submission is timely, averting any costly oversights.
- Cost-Effectiveness: Entrusting the titling process to ATC not only frees up your resources but also slashes the operational costs, rendering the process both efficient and cost-effective.
Your Pathway to Simplification
Transitioning to ATC’s streamlined approach transforms the daunting maze of out-of-state titling into a straightforward path. Our tailored solutions ensure that the titling process dovetails seamlessly with your sales operations, boosting the sales velocity and enhancing the customer experience.
Navigating out-of-state titling can hinder sales momentum and detract from customer satisfaction due to its complex nature. ATC transforms this intricate process into a streamlined pathway, enabling dealerships to effortlessly extend their reach beyond local boundaries. Discover the tailored solutions ATC offers for Out-of-State Titling simplification to align with your dealership’s objectives. Reach out to us today, and let’s accelerate towards simplified, efficient, and compliant out-of-state titling, propelling your dealership to higher operational excellence and customer satisfaction.
Kick Employee Burnout Out of Your Dealership: 10 Tips
“I quit!” is something few leaders ever want to hear, especially from top-performing staff members. Employee burnout is nothing new. It’s probably as old as work itself, but it’s gotten a lot of attention recently, thanks to a phenomenon many have dubbed “quiet quitting.” Rather than leave jobs that make them unhappy, many employees instead silently do less and less each day, with the end outcome being the same as them not showing up at all. As more and more employees evaporate in place rather than outright leave their jobs, leaders and managers who care about employee well-being have taken proactive steps to identify factors that contribute to employee unhappiness and underperformance. Every workplace is different, and there is no one-size-fits-all approach to employee retention. But there are some steps that are good to take in any workplace, because they speak to what every worker – from the most seasoned to the freshest new face in the dealership – wants out of work. Here are 10 of the most tested.
- Work-life balance: Promote a healthy work-life balance. Avoid excessive overtime and ensure employees have ample time to relax and decompress. If you find that the same handful of people are putting in overtime regularly, it’s time to lighten the load and hire additional people. Encourage employees to take vacation and time off when needed. Do you have an employee who is using too little vacation? Protect their mental health and their productivity by encouraging them to take a break. And when your staff is on vacation, tell them to vacation like they mean it: and that means no checking emails and messages.
- Stress management: Stress at work doesn’t have to be earth-shattering to be, well, stressful. Any job done well and conscientiously will at times produce stress. It’s natural. People want to do good work, and staying on top of your performance can be harrowing, whether you’re a brain surgeon, an accountant, a schoolteacher, or a professional auto dealer. Provide resources to help employees deal with their stress. Eustress (so-called “beneficial stress” that inspires the best in us) is good. Distress is not. Giving people opportunities to stretch their skills, and giving them a safe environment to do it in, creates positive pressure that conditions us to perform better. Maximize eustress and minimize distress. Open-door policies, where every employee can freely speak with their managers, set the tone from the top, while employee assistance programs (EAPs) can give your staff a confidential and supportive outlet. Some companies even have a chaplain! Chaplains are trained to help people of all faiths or of no faith. While chaplains have a background in pastoral care and faith, they can and often do help in an entirely secular way. The counseling profession actually came about as an offshoot of chaplaincy and pastoral care.
- Clear job roles: Just as the freedom to spread one’s wings and learn new things is a positive, taken the other way, too much responsibility can be a negative: especially when the responsibilities span multiple, different functions. Clearly defining roles and expectations can help prevent employees from feeling overwhelmed or uncertain about their responsibilities.
- Even clearer communication: Encourage open, respectful communication. Employees should feel comfortable discussing their workload, stress levels, and any concerns they might have with their superiors.
- Career development: Provide opportunities for career development. This can include continued training, courses, or conferences that allow employees to grow and feel invested in their career. Incorporating cross-training can also help ensure that your roster is always ready for anything.
- Recognition: Regularly acknowledge and appreciate employees’ hard work. Recognition can be a significant morale booster and can make employees feel valued and respected. Conversely, a lack of appreciation can drive people out of jobs they otherwise love and are good at.
- Respect and dignity: Create a positive, inclusive, and supportive work environment. This includes developing a culture that values collaboration, respect, and diversity. This is table stakes for any company in any industry that wants to retain good people and attract good people. Little will sour an employee’s experience more than a hostile or unwelcoming workplace.
- Ergonomic workspaces: Make sure the workspace is comfortable and well designed. Poor physical conditions, such as uncomfortable chairs or poor lighting, can add to stress and lead to burnout. For staff that are on their feet most of the day, ensure you have a comfortable, accommodating break area where they can sit and take a break.
- Fair compensation: Ensure that employees are fairly compensated for their work. This includes not just salary, but also benefits and other perks. If employees feel that they are underpaid, they are more likely to leave – or to disappear in place.
- The right tech, tools, and processes: Dealerships have specific needs, so don’t equip your team with generic productivity tools that are “close enough.” At ATC, our titling and registration solution integrates with powerful dealer management systems (DMSes), such as CDK Global. And our solution on its own is a real boon to busy title clerks and finance staff – not to mention to the financial health of the dealership. By using our built-for-dealers solution, our customers don’t just multiply what their title clerks can do. They also benefit from immediately improved cashflow, since ATC processes titles in days rather than months. That puts the money from out-of-state sales in your dealership’s coffers sooner, opens up your capacity to move more inventory, and improves the health of your dealership in ways that go far beyond just titling services.
They’re worth it
Whether your employees are happy or unhappy, creating an environment that helps them be at their best without making them feel their worst is always sound. Of course, every job will have moments of burnout, but mindful leadership can prevent it from becoming widespread and normal. If you’re in a bad spot now, inertia is the enemy: Act now and transform your dealership. You don’t have to do everything at once. You don’t have to fix everything at once. But forward motion is the first and most important step.
How Dealerships Can Stay Mighty When Stretched Thin
While it might be true that working smart is better than just working hard, sometimes, there’s no getting around the “work hard” and “work long” parts of the equation for auto dealerships. Whether you’re dealing with a temporarily light crew due to summer vacations or your staff size is small (but your dealership’s ambitions are not), having a lot to do and not a lot of people to help do it can be overwhelming.
But working smart has one big advantage that just working hard never will: It doesn’t have an upper limit. And while hard work doesn’t make smart work smarter, the reverse is not true: Smart work makes the hard work you’re already doing work harder. It’s a force multiplier without reservations or conditions. When your cup is already overflowing with too much work, and you wish you could multiply yourself by four (or more), take a good look at how smartly your processes are working. (Because you already know how hard you’re working.)
Simplify and streamline: Look at existing processes and see where you’re truly efficient, as opposed to just doing things “they way they’ve always been done.” Chances are, you’ll find redundant or time-consuming tasks that can be eliminated or automated. Streamline paperwork, inventory management, customer service, and other operational procedures to reduce the burden on staff members. Titling and registration is one of the core processes every dealership has to manage, and it in particular can be incredibly tedious, complex, and lengthy. Using a service such as our TT&R solution can save you days – or even weeks – of work, while also keeping you immune from the myriad risks of out-of-state sales regulations and requirements.
Get the right tech for the job: You shouldn’t be sharpening your pencil with grandpa’s Case Trapper from the 1940s, and you likewise shouldn’t rely on similarly inefficient tools to manage your dealership. There are some great technologies to automate and simplify tasks. Implement a dealer management system (also called a DMS, a type of customer management platform specifically for auto dealers) to manage leads, track customer interactions, and streamline sales processes. There are tons of great solutions to help dealers efficiently manage vehicle stock, monitor reordering, and track sales performance. DMSes are powerful multitools that get their many jobs done well.
Train your staff to be ready for anything: Invest in training programs to give your staff the skills and knowledge to handle a larger workload. Offer regular training sessions on customer service, sales techniques, product knowledge, and administrative tasks. And cross-training isn’t just good for cardio. Making sure team members can step in and help in other departments, especially when your staff is small or when there is an unexpected absence, helps all staff handle their responsibilities more efficiently and provide better service to customers.
And give them a power boost, too: Delegate tasks and responsibilities among team members to optimize efficiency. Identify employees’ strengths and assign them roles that align with their expertise. Empower employees by granting them decision-making authority within their scope of work. This does more than just increase efficiency. It’s a boost to employee morale and engagement, too. That’s priceless.
Be customer-first – and mean it: As the dealership grows, maintaining excellent customer service becomes even more critical – and difficult. Make sure your staff is equipped to handle customer inquiries, complaints, and requests promptly and professionally. Set up clear communication channels to address customer concerns and provide timely updates. Satisfied customers are more likely to become repeat customers and refer others to your dealership. Word of mouth is still the driving force in dealership reputation.
Tighten up inventory management: When you have a well-done system to track inventory, monitor demand, and optimize reordering processes, the tough job of inventory management gets a whole lot easier. Regular audits are at the heart of inventory management success. They ensure accurate record-keeping and usually reveal opportunities to streamline processes (very often with the great technology tools we mentioned above). Locked-down, solid, repeatable processes that catch everything help prevent stockouts, minimize carrying costs, and improve overall efficiency.
Amplify brainpower through collaboration: Forge partnerships with other businesses in the automotive industry, such as local repair shops or car service centers. Many minds are better than one, and shared resources are powerful assets. By working together with allies in your industry, you can help streamline operations, reduce costs, and provide additional value to customers. For instance, you can establish referral programs or joint marketing initiatives to expand your customer base and increase efficiency through your combined might.
Monitor, adapt, and refocus: Finally, once you have the right pieces in place, tend to your “efficiency ecosystem” the way you would a garden. Your processes need care and attention on a regular basis – because even the best-oiled machines don’t run on their own forever. Regularly evaluate your dealership’s performance and identify areas for improvement. Monitor key performance indicators (KPIs) such as sales metrics, customer satisfaction ratings, and employee productivity. Analyze data to gain insights into your operations and make data-driven decisions. Embrace feedback from customers and employees to adapt and refine your processes. And if this sounds like a lot? It certainly is! But the smart work force multiplying the hard work will be incredibly and immediately apparent, and it won’t be as difficult as it was before you deliberately optimized your standard ops.
A small staff or a skeleton crew doesn’t lock you out of doing big things and making big wins. Take the time to get your dealership humming, invest in your staff’s knowledge and morale, and call on the right partners to help. That way, the road you’re on will always lead you to success.
5 Compliance Checks for Out-of-State Auto Sales
Out-of-state sales can represent a significant revenue stream for dealers in good economic times and bad. But they also come with a lot of complexities that can turn into pitfalls, particularly in terms of compliance. Here are 5 things every dealership making OOS sales needs to consider.
- State-specific regulations: Every state has its own laws, regulations, and requirements for auto sales, tax, titling, and registration. When a customer from out of state purchases from you, you must follow their state’s documentation, titling, registration, and sales tax regulations to the letter. Failure to comply with these regulations can lead to hefty fines and penalties, negative customer experiences, and even criminal charges.
- Licensing requirements: Although you are licensed to sell vehicles in your state, you might need to abide by different or additional licensing requirements in the out-of-state customer’s state as well. This is another area where a seemingly small oversight could lead to fines, penalties, and a terrible experience for your customer.
- Advertising compliance: Multiple federal and state laws regulate advertising requirements. Broadly, they require you to accurately represent vehicle prices, clearly disclose any additional fees or conditions, and avoid deceptive marketing practices. Since the finer details can vary from state to state, if you advertise outside of your own state, you must ensure you comply with both your state’s laws and those of the states where you are expanding your advertising and marketing.
- Sales tax considerations: Sales tax requirements can vary significantly from state to state, so you need to clearly understand the sales tax obligations associated with selling to out-of-state customers. This includes determining whether the dealership is responsible for collecting and remitting sales tax to the customer’s state, or whether the customer is responsible for paying the tax directly. It’s a smart idea to hire a tax specialist or a lawyer well versed in interstate commerce law.
- Title and registration process: Each state has its own procedures and documentation requirements for titling and registering vehicles. Dealerships need to provide accurate and complete documentation to facilitate the transfer of titles and registration to out-of-state customers, and it’s a big process that involves coordinating with the customer, providing necessary paperwork, and guiding them through the steps required by their state’s motor vehicle department.
The bottom line? Out-of-state sales and the associated tax, title and registration process are incredibly complex and time consuming. The process subjects you to regulatory, legal, and financial risk and most importantly takes your focus away from selling more cars and providing great customer service. That’s why using ATC is always a smart move. We can handle all of your out-of-state titling and registration, with unmatched speed and guaranteed accuracy. With in-house expertise covering all 50 states, you can trust us to ensure that every OOS sale you make is 100 percent compliant, and our processing speed improves your cash flow by getting money from OOS sales in your hand faster. Ready to see how we can help? Sign up for a demo, and someone will get in touch with you right away.
Midyear Checkup: 5 Vital Signs for Auto Dealerships
Depending on who you asked late last year, automotive dealerships were either in for a terrible ride in 2023 – or else they predicted business as usual.
Now that we’re nearing the halfway mark of 2023, the guessing game is over, and you know the road you’re on. Of course, your mileage may vary, but if your dealership isn’t headed in the direction you want to go – or if you’re on the road to success and want to ensure a smooth ride – here are five key vital signs to monitor for the health of your business:
Financials and Operations
First and foremost, you’ll want to dig into your financial statements. Key indicators to focus on include gross profit, net profit margin, return on investment (ROI), inventory turnover ratio, and liquidity ratios. Taken together, these metrics can give you a good snapshot of your dealership’s overall health. Hand in hand with financial analysis is operational analysis. How efficiently are you able to manage not just the obvious job of getting new customers into the driver’s seat but also day-to-day operations, such as payroll, maintenance, and accounting? One way that both large and small dealerships find greater efficiency and cost control is by outsourcing functions such as financing, HR, marketing, and titling and registration. For example, our company, Automotive Titling Company, handles the entire titling and registration process for dealerships from start to finish. By using services such as ours, you can grow or scale your dealership’s capabilities without having to take on additional costs in staff, overhead, and training.
Good inventory management boosts profitability for auto dealerships. Having a clear, current assessment of turnover speed, aging inventory, and carrying costs helps your team make smarter, more strategic decisions. What’s more, the better you manage your current inventory, the easier it is to acquire new inventory and keep up with market demand. Now is the time to make up for the inevitable losses that many dealerships endured when consumer confidence was in the basement.
Marketing and Advertising
Despite how powerful word of mouth is, don’t rely on it. And it goes without saying: so much of what you do to promote your dealership should be digital. For many customers, your first impression will be made online, so it’s important that you have a good website that’s easy to use (and with accurate inventory) and social media pages that make it easy and entertaining for customers to get to know you. Especially in markets where your dealership is competing for attention with many others, and you’re not the biggest or only game in town, good marketing and advertising will help you win customers who may otherwise not have seen you. Smart dealerships found the silver lining in the COVID-19 pandemic by taking a serious, disciplined look at their marketing efforts. How are you different? How do you make the whole process of buying or selling an auto better? Easier? Faster? Less expensive? Answer that, leverage it, and capture more of your market.
Understanding in detail how well your sales team is doing and what challenges they face helps keep revenue flowing and inventory moving. Key metrics to consider include total vehicle sales, average transaction price, gross profit per vehicle, and sales growth rates. Additionally, analyzing sales by vehicle type, brand, or model can help identify strengths and weaknesses within the dealership’s sales strategy. And although the end goal of sales is, well, a sale, it’s important to be mindful of customer experience. As customer experience keynoter Blake Morgan writes in the July 14, 2020 issue of Fortune, “Customer experience focuses on more than just the end sale—it’s about everything the customer feels and thinks during the entire process. Customers want to be valued and seen as individuals, not pushed into buying something they might not need. Hearing a sales pitch that is obviously given verbatim to every single person doesn’t create a strong relationship.”
Employee Performance and Satisfaction
Finally – and arguably most importantly – happy employees are more likely to do great work, and that boosts your dealership’s chances at success in both tangible and intangible ways. A 2015 study conducted by researchers at the University of Warwick found that happy employees were 12 percent more productive, resulting in greater revenue and performance for the organizations that employed them. There are obvious things you can do – and likely already are doing – such as ensuring a civil and safe workplace, valuing individual contributions, and fostering respect. Those certainly carry you a long way but even better is to pair this ethos with an equally strong commitment to making sure your team has all of the tools, tech, and resources they need to do their jobs as easily and effectively as possible. Things such as sales and marketing software, apps designed specifically for inventory management, and automotive-industry-specific services (such as the titling and registration services we offer here at Automotive Titling Company) can help turn time-consuming but necessary work into much simpler operations, which gives your team time to do what they do best: get people into the driver’s seat.
How Titling Companies Can Help Auto Dealerships Streamline the Sales Process
Managing the pace of business at leading auto dealerships can be chaotic and overwhelming, especially during peak sales periods. One of the most time-consuming tasks in the sales process is managing the title and registration paperwork. This is where titling companies can help. In this blog, we will explore how titling companies can assist auto dealerships in streamlining the sales process to generate both higher sales velocity and a greater certainty of sales closes.
What are titling companies?
Titling companies are third-party organizations that specialize in handling the paperwork involved in vehicle registration and titling. These companies work with auto dealerships, lenders, and state motor vehicle agencies to ensure that all necessary documents are completed accurately and efficiently. Titling companies can handle all aspects of the title and registration process, including processing lien releases, paying off existing liens, and registering vehicles with state motor vehicle agencies.
How can titling companies help auto dealerships?
- Increased Accuracy via Reduced Paperwork Errors: One of the most significant advantages of working with titling companies is the reduction in paperwork errors. These companies are experts in the titling and registration process and can ensure that all necessary documents are completed accurately and efficiently. This can help reduce the chances of costly mistakes that can delay the sales process and cause frustration for customers.
- Faster turnaround times: Titling companies have streamlined processes and connections with state motor vehicle agencies, which can significantly reduce the turnaround time for title and registration paperwork. This means that auto dealerships can complete sales transactions faster, increasing customer satisfaction and boosting revenue.
- Improved compliance: Titling companies stay up-to-date with the latest state and federal regulations regarding vehicle registration and titling. This can help auto dealerships ensure that they are in compliance with all legal requirements, reducing the risk of fines and other penalties.
- Reduced staffing costs: Handling the title and registration process in-house can be time-consuming and require significant staffing resources. By working with titling companies, auto dealerships can reduce staffing costs and redirect those resources to other areas of the business. For most dealerships, the reduced labor costs to process it yourself can more than pay for the cost of a 3rd party partner.
- Better customer experience: When the titling and registration process is streamlined, customers can enjoy a faster and more efficient sales process. This can lead to higher customer satisfaction and increased loyalty to the dealership.
In conclusion, titling companies are a valuable asset to auto dealerships looking to streamline the sales process. Automotive Titling Company allows dealerships to tap into a nationwide network of titling companies to reap these benefits and title vehicles in all 50 states. By reducing paperwork errors, improving compliance, and increasing turnaround times, our network can help auto dealerships improve their bottom line and provide a better customer experience. If you are an auto dealership looking to streamline your sales process, consider partnering with a titling company to handle your title and registration needs.
Why Automotive Software Companies Need a Real-time DMV API
Software companies play a critical role in the automotive industry, providing tools and solutions that help dealerships, insurers, and other stakeholders manage their operations effectively. However, as the industry becomes more complex, Dealer Management Systems, CRMs, and Auto Data companies need to stay ahead of the curve by adopting new technologies and strategies that can help them provide better service to their clients. One of these technologies is a real-time DMV API, which can provide significant benefits in the areas of title and registration processing as well as tax, title, and licensing fees.
A real-time DMV API is a tool that allows automotive software companies to access up-to-date fee/tax information and DMV documentation from over 12,000+ jurisdictions in the country. This information can include taxes at the city and county level, as detailed/granular as a local Bridge Tax, public transportation fee, and more. By leveraging a real-time DMV API, automotive software companies can improve their offerings and provide more value to their clients.
Here are some of the key benefits and reasons why automotive software companies need a real-time DMV API:
- Increased Efficiency: Real-time DMV data can help automotive software companies process title and registration information more quickly and accurately. By accessing the latest information through an API, they can ensure that their clients receive their title and registration documents as quickly as possible.
- More Accurate Calculation of Fees: DMV data can also be used to more accurately calculate tax, title, and licensing fees. By accessing the necessary information through a real-time DMV API, automotive software companies can avoid underpaying or overpaying these fees, which can be costly and time-consuming to correct.
- Improved Compliance: Automotive software companies need to comply with various regulations and laws related to title and registration processing as well as tax, title, and licensing fees. By using a real-time DMV API, they can ensure that they are collecting and using data in accordance with these regulations, which can help avoid costly fines and penalties.
- Better Customer Experience: Real-time DMV data can help automotive software companies provide transparent and accurate pricing through the end-user/customer experience. For example, customers will see a consistent & accurate monthly price or out-the-door price all the way from top-of-funnel vehicle browsing to loan approval and vehicle delivery. This makes shoppers confident in their purchase and improves customer loyalty.
- Enhanced Error Detection: Real-time DMV data can be used to identify errors associated with title and registration processing as well as tax, title, and licensing fees. By verifying information through a real-time DMV API, automotive software companies can detect and prevent calculation & processing errors, which can help them avoid financial losses and legal problems.
In conclusion, automotive software companies can benefit greatly from using a real-time DMV API, especially in the areas of title and registration processing as well as tax, title, and licensing fees. By leveraging real-time DMV data, they can process titles and registrations more efficiently, more accurately calculate fees, comply with regulations, provide better customer experience, and better detect errors. As a result, automotive software companies can provide better solutions to their clients and stay ahead of the competition.
ATC Names Daniel Bovarnick Chief Financial Officer
Automotive Titling Company (ATC), the industry leader in technology solutions for processing tax, title, and registration for out-of-state vehicle purchases, announced today that it has appointed Daniel Bovarnick as Chief Financial Officer. With multiple prior CFO roles at PE-backed companies, Bovarnick brings more than 30 years of experience leading finance functions at companies spanning multiple industries. Prior to his background in private companies, Bovarnick spent 10+ years in roles of increasing seniority at American Express and Comerica Bank.
Backed by private equity firm Polaris Growth Fund, ATC serves thousands of automotive dealerships by providing the industry’s fastest and most reliable title and registration processing, enabling dealerships to focus on what they do best – delighting customers and increasing sales. ATC also offers a powerful API product enabling lenders and technology providers to quickly calculate both in-state and out-of-state taxes and registration fees in their online applications.
“My passion is turning analytics and data into insights, and for my next adventure I wanted to apply this passion for a clear industry leader with a strong management team. ATC fits the bill perfectly as it is a data driven company with a clear leadership in Tax, Title and Registration services,” said Bovarnick. “Equally important, the company has a committed leadership and core team that is highly committed to winning in the marketplace via a values-led approach, and I appreciate the opportunity to contribute and enhance those values of Accountability, Transparency, and a Customer-first mindset.
ATC chief executive officer Kane McCord welcomed Dan’s arrival. “Having led finance functions before, and overseen multiple CFO searches, we are thrilled and grateful to attract someone with Dan’s unique skill set. His combination of leadership at PE-backed growth companies and large company experience is a great fit for our needs – I have already learned a great deal from Dan and he has already enhanced and extended our strong culture.”
Bryce Youngren, Managing Partner of Polaris Growth Fund added, “We are excited about ATC’s growth prospects and its market leadership position, and were fortunate that we had met Dan via his interactions with another portfolio company. As a board member, I welcome Dan’s financial acumen as it will help all of ATC’s leaders and board members make faster and more informed business decisions.
This press is release is available for download here.
Common pitfalls to avoid when managing out-of-state vehicle titling and registration manually
If you own a car dealership that sells vehicles to customers in other states, you know how complicated and time-consuming out-of-state vehicle titling and registration can be. From managing paperwork and tracking deadlines to ensuring compliance with different state regulations, the process can quickly become overwhelming. That’s why many car dealerships are turning to specialized software and processing partners to make out-of-state vehicle registration easier and more efficient.
However, if you are still managing out-of-state vehicle registration directly or with manual solutions, there are several pitfalls that you should be aware of and try to avoid. Here are some common mistakes to watch out for:
Failing to track deadlines
One of the biggest challenges of out-of-state vehicle registration is keeping track of the different deadlines for each state. It’s easy to lose track of when paperwork needs to be submitted or fees need to be paid, which can result in missed deadlines and potential legal issues. To avoid this, it’s important to have a system in place for tracking deadlines and ensuring that they are met.
When completing out-of-state vehicle registration paperwork manually, there is a risk of making mistakes or providing incorrect information. This most commonly includes calculation errors, but also often includes errors in spelling, addresses, or vehicle information. To avoid these issues it’s important to ensure you have access to real-time and accurate quoting information for all your tax, title, and licensing work, while also ensuring that all paperwork is double and triple checked for accuracy.
Missing or incomplete paperwork
In order to register a vehicle in another state, you must provide a complete and accurate set of paperwork. This includes registration forms, titles, and other documents that are specific to the state where the vehicle will be registered. If any of this paperwork is missing or incomplete, the registration process can be delayed or denied. To avoid this, it’s important to make sure that you have all of the necessary paperwork before starting the registration process.
Failure to work effectively with an out-of-state DMV
One of the hardest facets of submitting an out-of-state title application involves collaborating with an unknown titling agency. The biggest mistake a dealership can make is ineffectively tackling this hurdle. Are you communicating with the correct office? The correct representative? Are they giving you correct information? Once you’ve sent your submission off, how will you get updates on your title application? Failure at any one of those points may result in a rejected and returned title application. If you do get approval, will their office provide you with the registration receipt you need to maintain lender relationships? To avoid failure at any of these points, you may want to consider involving a third party who regularly collaborates with the local DMV and has already tackled these hurdles.
Overall, managing out-of-state vehicle titling and registration manually can be challenging, but it is possible with careful planning and attention to detail. By avoiding these common pitfalls, you can ensure that the registration process goes smoothly and that you are able to register your vehicles in other states without any complications. If it sounds like managing out-of-state vehicle titling and registration is too much of a hassle, consider using a automotive titling company to facilitate the process.