The Expert Podcast

Congratulations to first choice auto auction in Louisiana we've done a lot of titles for them in the past. They were recently acquired by E automotive It's a Large conglomerate of automotive transaction companies. they do a lot of digital transactions between auctions mostly for car dealers but also for consumers. They're out of Canada And they provide platforms for dealerships and auctions and lenders be able to do vehicle transfers on a lot easier process than old fashioned pen and paper. It's a great company they are on an acquisition binge buying up auctions and some dealers and even some lenders. It's a good opportunity for Expansion to buy up auto auctions. They have digital auctions but now they're purchasing physical auctions adding that to their dealer platform. And by connecting the two they're creating an logistics hub That makes it easier for dealers to buy and sell cars. They're expanding their footprint to look the Southeast Alabama Florida Georgia Kentucky All the way up to West Virginia they they also bought fast lane the month before. fast lane was a big auction in Michigan Now they're owned by E automotive. So this is a big Transaction for the company Good for the auction it's good for E automotive. They do a lot of really good digital tools for dealerships to acquire used inventory Get the vehicles transferred properly So you don't end up with title problems like Carvana or vroom or some of these other companies that are running into problems with cars that came from auctions. So that's one thing you can look at if you're purchasing a vehicle from an auction You want to ask What's the title process they used. Did they use paper Did they use electronic. Where is your title Is the title on premise Is it an E title. That way you'll know if you're going to be delayed and getting proper paperwork for your vehicle after you buy it from an auction. let us know what you think in the comments You have any title problems from auction vehicles or are you a dealer And are having lien payoff problems from auctions that comes up a lot to tell us what you think or what your questions are.