In the fast–paced world of automotive sales, time equals money. Every minute spent on
paperwork and administrative tasks is a minute taken away from serving customers and closing deals. And when you can’t get an acquired vehicle title in your name in order to resell it, we’re looking at days, weeks, or even months.
For too long, the process of acquiring vehicle titles has been a notorious bottleneck, hindering efficiency and frustrating dealerships across the nation — no more. The winds of change are blowing, and they’ve brought about a new solution to revolutionize title acquisition: E–Titling.
Utilizing NMVTIS and Motor Vehicle Records in lieu of a physical title, E–Titling identifies the
true and current status of that acquired vehicle.
paperwork and administrative tasks is a minute taken away from serving customers and closing deals. And when you can’t get an acquired vehicle title in your name in order to resell it, we’re looking at days, weeks, or even months.
For too long, the process of acquiring vehicle titles has been a notorious bottleneck, hindering efficiency and frustrating dealerships across the nation — no more. The winds of change are blowing, and they’ve brought about a new solution to revolutionize title acquisition: E–Titling.
Utilizing NMVTIS and Motor Vehicle Records in lieu of a physical title, E–Titling identifies the
true and current status of that acquired vehicle.
The pain points of traditional title acquisition
The traditional title acquisition process involves piles of paperwork, long waiting times and
endless headaches. Lost documents, snail mail, disappointed customers and overwhelmed staff — the inefficiencies are glaring.
endless headaches. Lost documents, snail mail, disappointed customers and overwhelmed staff — the inefficiencies are glaring.
Manual paperwork and endless delays
If you have to acquire a new or duplicate title, the traditional process takes an average of 21–30 days to complete, sometimes longer — and that’s only if your paperwork is in order and you already have a chain of custody. That’s more work for you, and money is essentially walking out the door with each passing hour that your vehicle sits in the lot, unable to be sold — that’s your holding cost.
Delays and inefficiencies
When manually completing the title acquisition process, there is endless space for delays that are mostly out of your control. Missing signatures, lost paperwork, relying on government timetables, complicated processing rules, lack of title tracking, and more — it’s all too easy to miss one key step and be left in the lurch.
Customers play the waiting game
Not only do these delays impact your dealership, but they can negatively affect your customers’ purchase experience. Dealerships nationwide have been known to sell vehicles without first obtaining the title. When the vehicle is sold before the title is in hand, the dealer cannot title and register it in the customer’s name, resulting in distrust and frustration. Let’s end that.
AAMVA’s call for a digital title solution
With discussions beginning in 2013 and ultimately realized in 2021, AAMVA (the American
Association of Motor Vehicle Administrators) developed and ratified the recommendation that all 50 states should begin to move toward true E–Titling. With E–Titles, traditional paper titles are replaced with a secure, digital record with all of the latest and correct information about the vehicle, current owner, dates of acquisition and more. In 2022, that
recommendation was delivered by National Title Exchange (NTX). This means that dealerships, auction–houses, and banks can now process titles in as little as three business days through E–Titling. This innovation not only drastically accelerates commerce, but also assists in protecting dealerships from fraud.
recommendation was delivered by National Title Exchange (NTX). This means that dealerships, auction–houses, and banks can now process titles in as little as three business days through E–Titling. This innovation not only drastically accelerates commerce, but also assists in protecting dealerships from fraud.
Enter National Title Exchange
The nation’s leading E–Titling solution is available now — remove the current frustrating and lengthy dealer titling process from your list of problems: National Title Exchange (NTX) by Vitu.
NTX is at the forefront of revolutionizing the title acquisition process and is one of the most
exciting automotive innovations in the last decade. With NTX, you can now have a ready to sell title in hand in just one to three business days while processing completely digitally.
The process is simple and completely digital. It’s as easy as 1, 2, 3:
NTX is at the forefront of revolutionizing the title acquisition process and is one of the most
exciting automotive innovations in the last decade. With NTX, you can now have a ready to sell title in hand in just one to three business days while processing completely digitally.
The process is simple and completely digital. It’s as easy as 1, 2, 3:
- Obtain a chain of custody
- Obtain a lien satisfaction, if necessary
- Sign, upload and submit documents digitally
That’s it! In 3 business days or less, you have a title in hand and your sales team has another car to sell.
In the past twelve months, Vitu’s NTX has processed and delivered hundreds of thousands of titles for our partners. In that time we’ve heard countless stories about dealers waiting months for titles until NTX came in and got a title for them in just days, allowing the vehicle to be retailed, auctioned or wholesaled.
We’ve done the math and on average, dealers lose $241 in holding costs per vehicle when
acquiring titles. Vitu’s NTX has saved its partners over $30 million in the last 12 months by
removing these unnecessary expenses. Be auction or retail ready, acquire vehicles, skip
duplicate titles, and protect your dealership from fraud with one solution — E–Titling through NTX.
Vitu is trusted by over 5,000 partners and used by over 60,000 professionals throughout the auto industry, in both the F&I desk and Titling departments. And with hundreds of thousands of titles securely issued through NTX to date, the secret is out: E–Titling is in — don’t get left in the dust.
Say goodbye to paperwork purgatory and hello to efficiency and success. Learn more about how NTX can transform your dealership today.
Say goodbye to paperwork purgatory and hello to efficiency and success. Learn more about how NTX can transform your dealership today.
What is Vitu?
Vitu provides innovative, cutting–edge services to the motor vehicle industry. The Vitu platform and its solutions, including 50–state title and registration and E–Titling with NTX, are backed by the highest level of customer service and reimagine how drivers, businesses and administrators interact with vehicles. Vitu operates throughout the United States.
