Let’s be real: no one gets into the used car business because they love paperwork. You got into this business to buy cars, move inventory and make money. But there’s a quiet profit killer hiding in many independent dealerships: your auto title management process.
Every time a vehicle title is delayed, misplaced or filed incorrectly, your cash flow takes a hit. Cars sit on your lot longer than they should and your money stays tied up. If you want to keep inventory moving and your profits growing, mastering your vehicle title management process is important.
Here are three ways independent dealers can improve their automotive title processing, save time and protect their bottom line.
1. Ditch the Filing Cabinet and Track Titles Digitally
If you are still keeping physical vehicle titles in paper folders or filing cabinets, you’re taking a risk. Titles get lost. Coffee gets spilled. Paperwork disappears.
An effective auto title management system requires real-time tracking. You should know exactly where every title is at any moment, whether it’s with a state agency, a previous owner, or your lender. Moving to digital title tracking helps eliminate manual searches and those stressful, “where did that title go?” moments.
With the AFCDealerⓇ portal, you can manage your titles directly from your computer or phone. Instead of digging through files, your dashboard gives you:
- Clear title images
- A 7-day tracking history
- Live FedEx shipping updates
All of which can make your vehicle title management process faster, safer and easier to manage.
To learn more about the AFCDealerⓇ portal, check out our: Beginner’s Guide to Using the AFCDealer portal
2. Resolve Title Issues Before They Become Deal Killers
Nothing slows down a sale faster than discovering a title problem after you’ve already found a buyer. Missing paperwork, title errors, unreleased liens and ownership discrepancies can all delay registration and create frustration for both dealers and customers.
The best way to avoid these setbacks is to identify and resolve title issues as early as possible. As vehicles enter your inventory, verify title status, confirm ownership information and address any outstanding issues before the vehicle is ready for sale.
By proactively managing title exceptions, dealers can reduce delays, improve customer satisfaction, and keep inventory moving through the sales cycle more efficiently.
3. Let Your Floorplan Provider Do the Heavy Lifting
Many dealers don’t realize that a strong dealer floorplan provider offers more than a line of credit. The right provider can also support your dealership title management process from start to finish.
Instead of chasing down titles and coordinating with auctions or sellers, your floorplan provider can help manage title tracking, storage and processing.
When you use an AFC floorplan, our central title team becomes your back-office helper. For example, if you buy a car at an auction and the title is missing, AFC follows up with the auction to locate it; once you pay off a vehicle, AFC works quickly to release the title back to you. This faster turnaround helps you complete sales sooner and keeps your customers happy.
More questions about title management? Read our Title Management FAQ.
Let AFC Prevent Your Title Headaches
At AFC, we want to help independent dealers grow their business and save valuable time.
Paperwork shouldn’t slow down your dealership’s success. By improving your automotive title processing and title tracking systems, you can spend less time chasing paperwork and more time selling cars.
* Disclaimer: Descriptions of AFC’s services are generalizations and all services are subject to the terms of agreements between AFC and the dealership. AFC does not guarantee any results for floorplan financing or its services.. Dealers should consult their own advisors to make independent business decisions regarding floorplan financing. “AFC” refers to Automotive Finance Corporation, Automotive Finance Canada Inc., and AFC Cal, LLC in their respective jurisdictions
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