Car Titles Are Going Full Digital (No More Paper Titles)

So what is going on in the world of car titles? Well, there’s a lot of developments with technology, just like there is with any other industry.

Coalition for Electronic Secure Title Registration Transformation (eSTRT)
And with vehicle titles, there’s a coalition of title industry and dealership customers and companies that are putting together a group that is going to look at technology as a way to streamline the title process. This is eSTRT stands for Electronic Secure Title Registration Transformation Coalition.

Notable Members and Their Goals
And if you look at the members, a lot of big names here, including car titles right here. You can see right on the list, right next to Carvana, Auto Data Direct, NADA Dealer Association, Meum Auctions. A lot of big-time players in this field are trying to make car titles easier.

Consumer Frustration with Current Process
I’m sure that as a consumer, the reason you’re watching this video is because you have an opinion about how hard it is to get car titles. You’ve dealt with the bureaucracy of DMV, you’ve dealt with the paperwork issue where no other type of thing you work on has complicated paperwork like this, right? This is a car title. Everything else you work on is electronic: DocuSign, different types of automated technology, and car titles is kind of in the dinosaur days.

Goal of Modernizing Titles and Registration
So this group are people who are trying to get a shared conversation about modernizing title and registration, and we think this is a big opportunity. It’ll make the job easier for title companies, it’ll make the process easier for buyers and sellers of vehicles, but most importantly, it’ll take the antiquated process of getting titles and bring it to the modern era.

Current Technology and Future Integration
We already have a lot of automated systems and mail merge and AR artificial intelligence in our company that helps us process car titles easier, faster, more efficiently. But at some point, it has to be turned over to the government agency that issues the title, normally Department of Motor Vehicles.

Future Process Enhancements
This process, and it may take several years, will now allow us to interface directly with the DMV to get titles issued using electronic signatures, using database lookups, using artificial intelligence. The objectives of this group is using electronic signatures on documents, electronic submission and processing.

Electronic vs. Paper Process
We now have to print paper documents, get them signed with ink, and get them to the DMV. This will make it a lot easier and also do a lot of these transfers electronically, where you don’t even need a piece of paper.

Keeping You Updated
So keep an eye on our channel. We’ll keep you up to date on the progress of this group, and if you notice, we talked about DocuSign. They’re one of the members because they want to be part of this as well, to get these vehicles done with modern-day technology, not ink on paper, which is old school. Keep an eye on our channel. We’ll keep you up to date on the progress, and at some point, getting a title is going to be much easier than it is today.

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