Legislation just signed in North Carolina directs the Division of Motor Vehicles (aka NC DMV) to start an electronic title and lien program by July 2014. Within a year of implementation, banks, credit unions and other automotive lenders in the state will begin to replace their paper liens with an electronic exchange of data with the NC DMV. North Carolina would be the 20th state to do so.
Motor Vehicle departments, as with virtually all government agencies, have missed the computerization and web based customer contact developments that corporations have instituted during the past decade. North Carolina, the tenth largest state in terms of new annual vehicle registrations, is considering outsourcing the work to Vintek, a provider of auto collateral management, electronic title and lien services and direct finance processing.
Rather than using internal resources to fund the design, development and ongoing operation of ELT, the NC DMV retains the option to select a third party supplier(s) to develop and manage the system at no cost to the state. As the tenth largest state in terms of new annual vehicle/truck registration, an opportunity exists for the state of North Carolina to reduce operating costs, increase customer satisfaction and reduce fraud through the elimination of paper vehicle titles with liens.
Vintek says its lender customers to increase satisfaction and operating efficiency while decreasing costs and errors associated with automotive collateral management through the introduction of its patented consumer loan servicing technologies.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
