Customer data integration at the post purchase level is the key to unlocking the next data set and enhance security in the ever-evolving online vehicle sales space and making customer data useful and a benefit to the dealer, finance, insurance companies and the consumer.
The Ownership Beyond Doubt service from NVOR has recently launched distributed through participating car dealerships, registering and validating a vehicle's true ownership. The Ownership Beyond Doubt registration captures both the vehicle, customer details along with any financial details and interest and the supplying dealership, through a range of verification checks which are entered at the point of sale by the dealership.
In addition, a free proof of ownership check can be carried out using a 6-point validation system by a registered dealer when buying and part exchanging a vehicle confirming the identity of the seller/owner before any transaction.
This new online service focuses on the ownership, not the keeper/user. A quick and easy registration process allows the motor trade to register the true ownership of both new and used vehicles, protecting customers, motor traders, finance providers, auction houses and insurance companies from potential fraud and misrepresentation, while increasing unit profitability and margins.
NVOR charges a one-time fee of £75.00 inclusive VAT for the registration with the dealer retaining a share of the retail price and the digital ownership record remains with the owner until the vehicle is re-sold.