Worried Banks Will No Longer Fund Without a Title? Learn More About Your Options
Across Texas, owners of dealers and showrooms are questioning the tightening of requirements for vehicle titles. This isn’t relegated only to the Lone Star State, either. Some states sell cars remotely but can run into challenges in processing vehicle registrations and permanent titles.
It wasn’t that long ago when dealers who needed cash would work directly with a bank to gain funds instantly. Things are harder today. The pandemic, followed by massive inflation, has led to problems with title tracking, title reporting, and title clerk productivity.
The reality is that things have changed, and many processes are becoming stricter. For instance, when it comes to titles, cars need to be funded within a 30-day window. If that doesn’t occur, the dealer may not get paid. In the worst-case scenario, it could lead to losing the use of a bank.
Auto Dealership Location Plays a Part
Title processing efficiencies can vary across the United States and even in different areas of Texas. All tax offices are unique, making it challenging to know what to expect as an auto dealership. For instance, in Texas, many of the largest counties are bottlenecked. This means only a certain number of titles can be processed or dropped using webDEALER daily.
Another issue is that you may not realize there’s a problem with banking until it’s a big one. Everyone is looking to stay ahead of new issues and wishes to have an appropriate amount of cash to move forward. However, banks are becoming stricter about seeing auto titles before providing funding.
This is a major change that is going to impact exactly how important title process visibility and title timeliness are. Thankfully, even if this is something you are struggling with, there are solutions out there. The Title Girl offers one that may help you reduce late fees, improve dealership customer service, and more.
How The Title Girl Can Assist
One of the ways The Title Girl (TTG) can assist you is by providing innovative title software. It gives you insight into all sorts of topics that matter in the ownership and management of a Texas car dealership. For instance, your staff can be alerted that a deal is about to hit 30 days. Information about whether there is a lien will also be provided.
Our proprietary software lets you closely watch your money and your timeline. A live feed makes it easy to check up on things while being certain the data is the most recent. With dealer management integration, this also means there’s no need to totally switch to a new system, which can take a lot of time and effort.
Another problem that can crop up for Texas dealers is the need to provide a consumer with a second temporary tag. This is another area where our software and DMS integration can help you and ensure deals make it through while customers are provided with the best possible service.
What to Do When Your County Falls Behind
Many dealership owners aren’t sure where to turn if the county falls behind. It can cause a lot of stress and make you wonder whether you can get through this hard time. Thankfully, The Title Girl understands what you’re going through and has a solution designed to remove some of that stress.
Texas has new legislation that lets dealers work with counties other than their own as long as the other location is willing. This can be a good way to get around the long waits you might otherwise have to deal with. Of course, this means you need a way in with places that do have room to move forward.
The Title Girl has cultivated and grown relationships across all counties in Texas. When you work with us, we use these relationships to help you. We’ll do everything possible to ensure your customers, money, and livelihood are treated correctly. Reach out to us today to learn more, and let us explain how we can help.