We all know the drill: you accept a trade-in vehicle and want to turn it around to sell, but now you’re waiting on lien payoffs, title release and all the extra requirements that accompany the entire trade-in process. This could take weeks or, at times, even months.

With immediate payoff quotes and nationwide lien payoffs, Accelerated Title™ turns back an expensive, long trade-in process to just 4-6 days, saving time, money and headaches for your staff.

To learn more about how Accelerated Title™ redefines how dealerships manage trade-in and title release and what it can bring to your dealership, reach out to your Account Executive, visit our website or schedule a demo using the link below.

All title applications require signatures, regardless of the type of transaction. If the signature is missing, please send either a limited (white) Power of Attorney (POA), which can only be used to sign only title applications, or an original copy of a Secure POA (SPOA), which can be used on both the title application as well as the title. When submitting a corrected/duplicate title application, a signature is still required, but the state will accept copies of an SPOA for only these transactions.

When entering applications in Vitu, please verify that the VIN is entered correctly before pending and issuing inventory. If a VIN was entered incorrectly and pended in Vitu, the entire deal must be voided, especially if inventory or Temporary Registration Permits (TRPs) are involved. 

The registration is tied to the VIN that the application was created for, and the state has this information stored in the system. The only way to correct the matter is to void out the deal completely, which also voids out the inventory. If a TRP is used, please void the TRP before voiding out the application in Vitu. 

Important note: 

Once inventory has been voided, it cannot be reversed. This is a permanent change.
Please note that TRPs can only be voided within 15 days of when they are issued. 

Lienholders need to release their interest in titles by either signing off on the actual title or submitting a separate paper lien release. If lienholders were acquired by another bank, the one and the same from the lienholder listing their AKA must be submitted as well. 

Important note: Paid in full letters are not acceptable lien releases unless accompanied by a copy of the contract that is stamped, ‘PAID.’

A durable Power of Attorney POA is only valid if the owner is still living. A POA is not a sufficient document to submit if the owner is deceased and will not be accepted by the state. You must also include either a Small Estate Affidavit (when submitting this, seller signatures are not required as long as the dealership is listed on section 11), Letters of Office (signature is required by the executor), or a Will / Trust (signature required by the trustee).