Obtaining Trade-In Titles - Fastest Way?

[bsharon]

Hey everyone,

I'm new to the site, just looking for some other opinions or suggestions. I work at a large local used-car dealership in WI and, at my store, we've had an ongoing issue with titles. Either customers "left their title at home" or banks receiving our payoff are sending titles back to the customer instead of us. Are there suggestions on best and fastest way to obtain the titles that customers are in possession of that are rightfully ours. As far as I'm aware, we are only able to order a duplicate title and sign it with a POA if the title was originally held by a lienholder. Most of our issues stem from customers just not turning them in. Meanwhile, we're still selling them a car as to not lose out on a sale.

Any suggestions are appreciated.

 

[Tallcool1]

If the trade in does not have a lien (customer left it at home), that is the exact same thing as the customer leaving their checkbook at home. Simple, go get the title and you can take your new car, or at the very least have the salesperson follow the customer home and they hand over the title.

If the trade in has a payoff to a major lender, request the payoff in RouteOne or Dealer Track. You can then print the payoff request and that document provides specific title handling instructions that the customer has signed.

You can always type up a document that the customer signs that says they will deliver title or whatever, but the issue becomes enforcement of the document.

Titles absolutely SUCK right now, primarily due to the fast turns that we are seeing nationwide. 70% of what I sell is sold before I ever have the title. Auctions are slow, wholesalers are slow, lien holders are slow, it is just a mess.