West Virginia’s new National Digital Titling Clearinghouse is changing the game for auto dealers across the country. Slow and inefficient titling processes cause cars to sit on dealer lots as dealerships wait for paper titles, leading to lost revenue. West Virginia has launched a paper-free digital titling system that sets the new standard for secure and efficient title processing for the entire country. The National Digital Titling Clearinghouse delivers real-time processing, reduces backlogs, and creates significant financial benefits for dealers.
What Is the National Digital Titling Clearinghouse?
The state of West Virginia recognized the cumbersome and frustrating nature of the traditional paper titling process, where it can take up to 60 days to get a title. The backlog of paperwork waiting to be manually processed created a bottleneck for auto dealers, resulting in delayed revenue sitting on the lot as cars await titles.
The fully online and secure Clearinghouse provided by the West Virginia Department of Motor Vehicles (DMV) eliminated the backlog of titles within a few months of implementing the new system. Real-time processing now provides titles in as little as one day. This dramatic improvement in speed means dealer-purchased vehicles are ready for resale more quickly than ever.
Best of all, the Clearinghouse is not limited to dealerships and businesses located in West Virginia. It operates as a national clearinghouse. Regardless of where a business is located or where the vehicle is going, this clearinghouse expedites the process by centralizing and streamlining title processing.
“It’s not only going to help West Virginia businesses, but it will allow West Virginia to benefit businesses outside our state borders in a big way,” said West Virginia Governor Jim Justice.
The Benefits for Auto Dealers
Auto dealers can turn around titles in as little as one day through its fully digital processing capability. The Clearinghouse also:
- Enables you to purchase vehicles from anywhere in the country and quickly title them into your name, so you can sell them immediately.
- Allows you to securely store and access an authentic, fully digital title ready to use or print when needed. No more lost hard copies!
- Reduces mailing costs by eliminating paper, as the entire process is 100% digital.
- Uses a proven technology unmatched in scale, speed or stability, enabling your business to grow with the Clearinghouse as much as desired.
- As more than 45 companies in the auto industry and from around the Country have shared best practices with the state’s DMV as members of the Clearinghouse Advisory Group, this capability was built for your industry with industry support.
The Clearinghouse is modernizing and accelerating titling processing for dealers across the country. Now vehicles can be bought anywhere, retitled in hours, and be available for sale online or in person anywhere. Auto dealers stand to gain immensely from this transformative technology, with titles processed within hours rather than months.
The National Digital Titling Clearinghouse is a game-changer for the automotive industry. Auto dealers can accelerate revenue by churning through inventory faster, reducing mailing costs and giving employees critical hours back. The time for a faster, more efficient titling process is now, and with the National Digital Titling Clearinghouse, the future of the automotive industry is looking brighter than ever.
To learn more or to sign up for the National Digital Titling Clearinghouse, visit the West Virginia National Digital Titling Clearinghouse here.