Why Lenders Need the Same Lien Placement Options as Dealers
In auto finance, speed and efficiency matter at every step—from loan approvals to funding and lien placement. But here’s the issue: dealers have multiple options when it comes to placing liens, while many lenders are still stuck with limited choices, slow processing, and outdated workflows. That needs to change.
Think about it—dealers have access to electronic lien and title (ELT) systems, digital submission tools, and fast-track processing that allow them to place liens quickly and seamlessly. Lenders, on the other hand, often deal with manual paperwork, inconsistent state regulations, and fragmented lien placement options that slow down the entire process. And in a world where faster funding equals happier dealers and customers, the same should be said about lien placement for lenders. The faster the lien gets placed the better for all.
Lenders should have the same level of access to lien placement solutions as dealers do. Digital tools exist to streamline lien perfection, reduce manual errors, and cut down processing times, but lenders don’t have these options do to state DMV’s and legislation.. The industry is evolving, we need the state DMV’s to keep up and jump onboard to make it faster, more seamless process for all.
I break this down further in my latest video—watch here to see why lenders need to take action on lien placement now.
Watch the full video here:
Let’s talk—are you facing lien placement challenges? How do you think lenders can close the gap? Drop a comment below and let’s discuss!
