Pinnacle Auto Appraisers' Blog
Cox Automotive's Dealertrack In-State Registration and Title Solution transforms Colorado's Department of Motor Vehicles with new, electronic efficiencies - Automotive News
ATLANTA—Oct. 3, 2022—Cox Automotive announces today the Colorado Automobile Dealers Association (CADA) and Colorado Independent Automobile Dealers Association (CIADA) have both exclusively endorsed Dealertrack’s In-State Registration and Title solution, giving dealers the ability to electronically process registration and title transactions with the Colorado DMV.
“Colorado joins 30 other state DMVs that have embraced and adopted digital processes to streamline vehicle registration and titling,” said Tim Jackson, president and CEO of CADA. “It no longer needs to be a tedious process. This new offering provides consumer protection, fraud prevention and time saving benefits that our county clerks, dealerships and consumers will appreciate.”
Colorado’s Legislature joined the growing number of state jurisdictions authorizing the use of electronic registration and titling services. Dealers and authorized users can now perform these important registration and titling services at their locations, allowing Coloradoans the ability to make fewer trips to the DMV to obtain their plates and registration cards.
“Colorado DMV has taken another step in the right direction for local automotive dealers and car buyers,” stated David Cardella, CEO of CIADA. “The momentum behind digitizing registration and title shows no signs of slowing and Colorado stands out for its forward thinking by redesigning processes to save everyone involved in the vehicle purchase time and money.”
The Dealertrack In-State Registration and Title solution helps dealerships complete deals faster and save on unnecessary costs when compared to a manual paper process. With this new platform, Colorado dealerships will be able to:
• Calculate exact taxes and fees and prepare transactions for the DMV in under four minutes
• Potentially save up to an average of $10,000 monthly per dealership location in unnecessary costs that have become inherent in manual documentation, shipping and handling processes
• Achieve 70% faster turnaround on trade-ins when solution is paired with Dealertrack’s Accelerated Title, which manages the payoff, lien, and title release process
• Save time and reduce errors related to re-keying by up to 90% when data is imported directly from the Dealer Management System (DMS)
“With growth in automotive ecommerce expected to rise, digital tools that connect all aspects of the car buying process, such as registration and title, are more important than ever before,” commented Kait Gavin, Vice President Operations, Dealer Services at Cox Automotive. “We congratulate Colorado dealerships and its DMV for adopting digital technology to make the car buying process easier and faster.”
For more information about this solution, visit our website.
Dealertrack provides industry-leading software solutions that give dealerships, lenders, and partners the confidence to thrive in an ever-changing automotive market. The company’s integrated suite of powerful easy-to-use products and services helps dealerships, and their lending partners grow by increasing efficiency and improving decision-making. Dealertrack is part of the Cox Automotive family, a company that is transforming the way the world buys, sells, owns and uses cars. Dealertrack—along with its unmatched network of dealerships and lending partners—is improving the car buying experience by embracing the technologies that will shape the future of automotive retail. For more information about Dealertrack, visit www.dealertrack.com.
About Cox Automotive
Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company’s more than 27,000 team members and family of brands, including Autotrader®, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion. www.coxautoinc.com