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August 13, 2013 Volume 1
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INAUGURAL CVR COMMUNITY E-BULLETIN
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Welcome to the inaugural edition of the CVR Community E-Bulletin. We are excited to present this email format as a new and enhanced way to communicate, train and receive feedback from you, our valued clients. We sincerely appreciate your participation in our IADA-CVR Electronic Vehicle Registration Program. Please be aware that your strong support and participation has made your IADA-CVR program one of the premier processes in the entire country.
We will periodically send this E-Bulletin with helpful processing tips, training updates and relevant regulatory changes. In the event you have any questions regarding your CVR process or any of the information we provide in this E-Bulletin, remember you always have access to the CVR support staff at 1-800-333-6995. This department should always be your first option for timely and accurate information. You may also send an email reply to our email address and we will forward your question to the appropriate CVR account executive. Thanks again and we look forward to this improved communication tool.
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NEW PROCESS TO SPEED TRANSACTIONS
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Today’s Topic:
Speed up your processing time
Perform “corrected and duplicate title transactions thru CVR whenever possible
And when you know you’re going to have trouble obtaining a trade-in title
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QUICK LIEN RELEASE TITLE MAY BE YOUR ANSWER FOR PROBLEM TITLES |
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The newly enacted IADA-sponsored legislation that created a $20 lien release certificate of title may help you process your trouble applications. An Illinois dealer can apply for a lien release certificate of title if a customer trades in a vehicle and the dealer is unable to obtain the vehicle title, but is able to obtain proof that all liens on the vehicle have been satisfied. The lien release title will save the dealer the time it takes for a slow-moving lienholder to deliver the certificate of title and allow the dealer to sell traded-in vehicle without delay.
IADA is working with the Secretary of State’s Office and CVR to develop an electronic application process for the lien release certificate of title and will announce when it becomes available.
Until an electronic application becomes available, to apply for a lien release title:
FOR A VEHICLE LAST TITLED IN ILLINOIS
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Submit an Application for Vehicle Transaction (VSD-190) with the DUPLICATE TITLE and CORRECTED TITLE boxes marked.
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Do not change the recorded owner on the title application.
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Use the dealership address in the mailback instructions.
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Leave the lienholder box blank.
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Include a copy of the lien release letter, which must include the vehicle owner(s) name(s), the year, make, and Vehicle Identification Number of the vehicle, and a statement that the lien has been paid in full.
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Get the owner’s signature, directly or via a Power of Attorney.
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Submit a $20 fee (or $50 if you want it expedited)
FOR A VEHICLE LAST TITLED IN ANOTHER STATE
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Submit an Application for Vehicle Transaction (VSD-190) with the TITLE ONLY box marked.
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Do not change the recorded owner on the title application.
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Use the dealership address in the mailback instructions.
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Leave the lienholder box blank.
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Include a copy of a vehicle history report showing the last title number and state of issue.
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Include a copy of the lien release letter, which must include the vehicle owner(s) name(s), the year, make, and Vehicle Identification Number of the vehicle, and a statement that the lien has been paid in full.
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Get the owner’s signature, directly or via a Power of Attorney.
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Submit a $20 fee (or $50 if you want it expedited)
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In the case of a trade-in with a non-Illinois title, you must also include verification of the last known out of state address of the owner in the address field of the application.
If you have any questions about the lien release certificate of title, please contact IADA at (217) 753-0220.
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