Vroom Partners with West Virginia DMV To Reduce Wait Time for Vehicle Titles

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Vroom, Inc. (Nasdaq:VRM) partners with the state of West Virginia to launch the National Digital Title Clearinghouse (NDTC), allowing for a fully digitized titling process, reducing turnaround times from 45 days to less than one day. Vroom is the only retailer with access to this program, furthering its commitment to revolutionizing the car buying experience.

Innovative digital title registration program is next step in company’s commitment to improving the car buying experience

NEW YORK--(BUSINESS WIRE)-- Vroom, Inc. (Nasdaq:VRM), a leading automotive ecommerce platform dedicated to improving the buying and selling of used vehicles, announced today the company is partnering with the state of West Virginia to launch its National Digital Title Clearinghouse (NDTC). As the only retailer with access to this digital title clearinghouse, Vroom will be able to transfer out-of-state titles into the company’s name and significantly reduce the timeline for processing them.

“Vroom’s mission is to create a car buying experience for customers that is easy and provides them peace of mind,” said Tom Shortt, Chief Executive Officer of Vroom. “We would like to thank West Virginia Governor Jim Justice and DMV Commissioner Everett Frazier for their leadership and partnership as we work together to lead the digitization of vehicle titling. We know that streamlining this part of the process makes for a better customer experience and is one step closer to delivering on Vroom’s goal to be best in class in titles and registrations.”

West Virginia’s NDTC developed by Champ Titles, Inc. and its partner Tyler Technologies, makes it the first state in the country to introduce a titling process that is fully digitized, and has resulted in a reduction in title turnaround times from approximately 45 days to, in some cases, less than one day. Vroom is the only retailer with access to the early adopter program.

“The West Virginia DMV is excited to launch its National Digital Title Clearinghouse with Vroom as its first adopter,” said Commissioner of the West Virginia DMV Everett Frazier. “In the same way that Vroom is changing the way people can buy and sell cars, this innovative, digital program from the state of West Virginia will simplify and speed up a process that traditionally has been challenging for customers and dealers nationally.”

Participation in West Virginia’s NDTC is another example of Vroom’s commitment to revolutionizing the car buying and selling experience for their customers. Along with access to thousands of vehicles on Vroom.com, consumers get the peace of mind that all cars undergo an extensive inspection and reconditioning process. To provide even more confidence for customers, Vroom also allows customers the time to get to know their new car: drive it to work, stuff the trunk with groceries, or park it in their garage. If, before 7 days or 250 miles (whichever comes first), they decide it's not right, Vroom will help them exchange it for something else or refund the purchase price. All Vroom vehicles come with the complimentary VroomProtect Limited Warranty, which offers mechanical repairs for 90 days from the delivery date or 6,000 miles (whichever comes first) along with one year of roadside assistance.

About Vroom (Nasdaq: VRM)

Vroom is an innovative, end-to-end ecommerce platform that offers a better way to buy and a better way to sell used vehicles. The Company's scalable, data-driven technology brings all phases of the vehicle buying and selling process to consumers wherever they are and offers an extensive selection of vehicles, transparent pricing, competitive financing, and at-home pick-up and delivery.

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Source: Vroom, Inc.

FAQ

What is the partnership between Vroom, Inc. and the state of West Virginia about?

Vroom, Inc. has partnered with the state of West Virginia to launch the National Digital Title Clearinghouse (NDTC), which significantly reduces the timeline for processing out-of-state titles and digitizes the titling process.

What is the impact of the NDTC on title turnaround times?

The NDTC has resulted in a reduction in title turnaround times from approximately 45 days to, in some cases, less than one day.

What benefits does Vroom, Inc. gain from being the only retailer with access to the NDTC early adopter program?

As the only retailer with access to the early adopter program, Vroom gains a competitive advantage in the car buying and selling process by streamlining the titling and registration process for their customers.