CORRECTING and REPLACING Solera’s TitleTec Reinvents Car Dealerships’ Management of Out-of-State Titling with Nationwide Auto Titling
Please replace the release with the following corrected version due to multiple revisions.
The corrected release reads:
SOLERA’S TITLETEC REINVENTS CAR DEALERSHIPS’ MANAGEMENT OF OUT-OF-STATE TITLING WITH NATIONWIDE AUTO TITLING
Industry’s first comprehensive cloud-based solution to improve the car buying experience
Out-of-state titling has long been a headache for dealers, as a patchwork of laws has made it nearly impossible for dealer titling departments to have titling expertise beyond their home state. Today, TitleTec, a Solera [NYSE:SLH] company, launched TitleTec Nationwide Auto Titling, the industry’s first comprehensive cloud-based solution that allows automotive dealers to quickly and accurately complete title and registration tasks for out-of-state customers.
Oftentimes, dealers are left to call outside DMVs directly or scour the Internet for the necessary requirements when processing a new title and registration for a customer who resides in an unfamiliar state. This time-intensive process typically results in dealers incorrectly estimating the required fees and taxes, causing delays in the workflow and negatively impacting both the dealer and the consumer. As a result, many dealers are forced to outsource all out-of-state title work to third party providers which can delay the process and negatively impact CSI scores.
Nationwide Auto Titling allows dealers to efficiently complete out-of-state transactions in-house by generating the necessary DMV documents and eGuide checklists which walk the dealership through the titling process in all 50 states. Also included is a nationwide fee calculator that helps dealers determine the correct taxes & titling fees to collect from the consumer at the point-of-sale on cash, finance and lease transactions. This reduces costs and saves valuable time for dealer staff while also streamlining the transaction and improving the car buying experience for consumers.
“I have been using TitleTec for out-of-state deals and it’s awesome. It makes the process much easier and less time consuming,” said Ann Carlisle, Title Clerk, Hill Nissan.
“When you consider the fact that technology allows us to communicate with people around the world at the click of a button, it’s amazing how much time and effort is still required for what should be the simple process of completing titling and registration paperwork,” said Daniel Burgess, Managing Director of TitleTec. “Nationwide Auto Titling is a game changer in that it’s the first solution that truly puts the rules, regulations and fee information from all 50 states comprehensively into one real-time, easy-to-use solution for dealers, greatly increasing their efficiency and profitability.”
TitleTec, a wholly owned subsidiary of Solera Holdings, Inc. (NYSE: SLH), provides an industry-leading suite of software products to the automobile dealership market. TitleTec’s software solutions save time and money for automobile dealerships and local governments by replacing the manual system used to register and title motor vehicles with an electronic real-time interface that connects the automobile dealers directly with State Department of Motor Vehicles (DMV). The ease of use, proprietary technology and industry leading customer service has made TitleTec a trusted leader in Title and Registration software.
Solera is a leading provider of risk and asset management software and services to the automotive and property marketplace, including the global P&C insurance industry. Solera is active in over 70 countries across six continents. The Solera companies include: Audatex in the United States, Canada, and in more than 45 additional countries; Informex in Belgium and Greece; Sidexa in France; ABZ and Market Scan in the Netherlands; HPI, CarweB and CAP Automotive in the United Kingdom; Hollander serving the North American recycling market; AUTOonline providing salvage disposition in a number of European and Latin American countries; IMS providing medical review services; Explore providing data and analytics to United States property and casualty insurers; Service Repair Solutions, a joint venture with Welsh, Carson, Anderson & Stowe, that provides solutions for the service, maintenance and repair market; and I&S, a provider of software and business management tools, third-party claims administration, first notice of loss and network management services to the U.S. auto and property repair industries, specializing in glass claims. For more information, please refer to the company’s website at http://www.solerainc.com.
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