NORTH HILLS, N.Y., Feb. 7, 2020 /PRNewswire/ -- Dealertrack announces the launch of key new enhancements to its out of state registration and titling solution, RegUSA®. This brings next-level simplicity, reliability, customization and automation to alleviate an often complex and confusing process.
As a growing number of car shoppers move online, dealers need a solution that lets them quickly process registration and title transactions without having to master the unique requirements and business rules of each state's DMV. From January to September 2019, out-of-state registrations rose 16% year-over-year (from 4.7% of registrations to 5.3%).1 With 51 unique DMVs jurisdictions, 100 distinct sets of taxes and fees, 250 unique forms, and 300 possible registration and title transactions,2 the back-end process of finalizing an out-of-state deal can quickly become a time-consuming and costly process for dealerships without the help of the right solution.
"The shift to online car sales has opened up a great opportunity for dealers to sell to a broader market, but the burdensome task of having to navigate unfamiliar registration and titling processes has prohibited many dealers from capitalizing on this growing market segment," said Kait Gavin, vice president of Dealertrack Titling Solutions. "With the enhancements to RegUSA, Dealertrack is helping to eliminate the guess work that can come with finalizing an out-of-state sale by giving dealers an intuitive and interactive interface that guides them through the nuances and requirements of each unique deal."
Dealertrack's reformulated RegUSA solution now has five new and unique feature/functionality enhancements that reimagine the user interface of the system, offer built-in safeguards to help ensure accuracy and efficiency, and replace much of the manual process that can slow down the out-of-state registration and title workflow.
Intuitive Interface: Asking for only the information required for a given transaction, the system adapts itself based on the customer, vehicle and transaction information entered. Once the information is collected, it is automatically repopulated where needed throughout the registration and title process, eliminating the need for duplicate data entry and helping to ensure accuracy.
Deal Comparison Based on Detailed Insight of Taxes and Fees: The updated state-specific tax and fee engine that powers RegUSA eliminates the need to manually calculate sales tax for out-of-state deals and offers side-by-side comparisons for different deal scenarios down to the county, city and municipality.
Customer-Specific Checklist: Once a car buyer's information is input into the system, RegUSA will electronically provide dealers a specific, action-oriented task list customized for each unique deal, telling them what documents are needed, when original documents and wet signatures are required and if the documents need to be notarized. Connecting the F&I staff with key documents needed by the customer helps gain all deal details for more accurate and quick deal submission to the DMV.
Professional Deal Audit and Scan Services: An analysis of documentation by professional staff at RegUSA helps ensure paperwork is correct and accurate, with the ability for dealers to scan and upload missing deal documents should action be needed to finalize deals, helping ensure each deal is complete to meet state requirements for compliance and deal finalization.
Real-Time Deal Status Updates: Leveraging built-in safeguards, RegUSA provides real-time status updates to help prevent deal delays and enable dealers to act on necessary items without the need to go back and forth with the RegUSA office after a deal is submitted.
"Navigating the new Dealertrack RegUSA solution is easy and it provides the correct paperwork and material for more accurate deal completion from step one to submission," said Lauren Knorr, DMV title clerk of Pine Belt Automotive in Toms River, New Jersey. "As we complete the transaction, all necessary information, forms and documents are automatically populated which reduces data entry and makes our jobs easier. Best of all, with the new enhancements to Dealertrack RegUSA, finance can create more accurate estimates, driving a better process for everyone in the back office who finalizes the deal."
RegUSA will be available to demo at the National Automobile Dealers Association (NADA) convention in Las Vegas on Feb. 14-17. For more information about Dealertrack and to schedule a demo at NADA 2020, visit https://us.dealertrack.com/, or visit us at the conference at Booth #2336C.
About Dealertrack Dealertrack provides industry-leading software solutions that give dealerships, lenders, and partners the confidence to thrive in an ever-changing automotive market. The company's integrated suite of powerful easy-to-use products and services helps dealerships and their lending partners grow by increasing efficiency and improving decision-making. Dealertrack is part of the Cox Automotive family, a company that is transforming the way the world buys, sells, owns and uses cars. Dealertrack—along with its unmatched network of dealership and lending partners—is improving the car buying experience by embracing the technologies that will shape the future of automotive retail. For more information about Dealertrack, visit www.dealertrack.com.
About Cox Automotive Cox Automotive Inc. makes buying, selling, owning and using cars easier for everyone. The global company's 34,000-plus team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®,are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with revenues exceeding $20 billion. www.coxautoinc.com
______________________________ 1 Based on Cox Automotive derived analysis of IHS Markit new and used vehicle registration data as of Q3 2019 where a selling dealer was identified. Used registrations includes selling dealer for 31 states. 2 Cox Automotive Internal Data.