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PLANO, TX, January 9, 2017 – DealerDoc, the solution for out-of-state titling made easy, said today its one-stop online process helps new and used car dealers capture more business from millennial-aged buyers wanting to buy from out-of-state dealers.
Today, millennial’s make up 28% of the new-car market nationwide, which was almost as many vehicles the baby boomer generation purchased in 2015, noted the Associated Press recently, citing J.D. Power’s Power Information Network.
Millennial’s comfort level with today’s e-commerce process will effectively mean more will purchase their vehicles at dealerships across state lines.
Dealers currently generate from 5 to 20 percent of their sales volume from out-of-state purchasers, depending on the franchise and/or marketplace. These sales are likely to grow as internet e-commerce continues to increase, and lenders get more aggressive with buying across state lines.
“Lienholders are expanding their buying territories throughout the U.S. as millennials continue to purchase in numbers that are exceeding any other age group. The reality is these buyers will not let borders limit their choices or how businesses service them,” said Ken Roberts, Founder and CEO of DealerDoc, LLC.
“DealerDoc’s automated software and titling service ensure dealers will not be held captive by misinformation that often complicates out-of-state titling due to traditional error-prone manual process, but instead gives them the confidence to sell, title and register a vehicle accurately and almost effortlessly in all 50 states,” Roberts added.
This national reach is critical to online retailer Vroom, as it expands its market reach nationally, said Vroom Corporate Controller Todd Wilkinson. Consumers browsing Vroom.com use the online DealerDoc service to get a quick and accurate summary of their tax, tag, title, and licensing fees to facilitate the purchase of a vehicle.
“DealerDoc expands our customer base, enabling Vroom to touch every corner of the country. It improves the customer experience with the real-time titling and registration accuracy it delivers, which keeps the deal moving forward,” Wilkinson added.
Dealers serving military families also find DealerDoc a convenient and accurate solution for titling vehicles out of state for buyers based in those dealers’ communities.
“Many of our customers are stationed here in San Antonio but want to register their vehicle in their home state, DealerDoc lets us do that quickly and accurately,” said Mirt Medina, Finance Director for Red McCombs Toyota in San Antonio, Texas, a military community. “I have had customers buy from us because a competitor didn’t want to bother with their out-of-state titling. DealerDoc is about professional F&I and taking care of customer needs, from A to Z.”
DealerDoc allows a dealer to send all out-of-state paperwork to one location for processing. Once DealerDoc receives the titling packet, it’s processed and sent out within 24 hours.
“Our tool is so accurate that we guarantee all taxes and fees for processing,” Roberts said.
Using DealerDoc, dealers obtain the correct taxes and fees needed in seconds for quick bank approvals. It gives dealers the luxury of pre-populating and printing all state-required documents along with a detailed checklists for specific requirements in every jurisdiction - all with just the click of a button. The software guides the manager by only asking the necessary questions for that jurisdiction to eliminate errors and delays.
“It would be great if every out-of-state lien was recorded correctly the first time, which a service like DealerDoc ensures,” noted Matthew Mulkey, Senior Vice President, Dealer Service Center Manager for CRB Auto, powered by Mechanics Bank.
“DealerDoc simplifies the entire process,” Roberts noted.
DealerDoc representatives will be in New Orleans during the NADA convention to discuss how the company’s out-of-state titling software can help dealers market to and better serve out-of-state customers quickly and accurately for closing more of these opportunities.