PrivateAuto users can now verify title information against the state DMV records to avoid fraud.
ALPINE, UT / ACCESSWIRE / August 26, 2024 / PrivateAuto, the only end-to-end transactional marketplace for private-party vehicles, now offers DMV title checks as an add-on service through a partnership with Yotta Automated Software Solutions Inc. (YASSI), the platform of record for real-time vehicle lienholder, registration, and title data.
This addition to the PrivateAuto platform reduces fraud and enhances a buyer's confidence in a private-party transaction. Before this integration, the ability for a buyer to check title information with state DMV records hasn't been available to the private-party market. Now buyers can have peace of mind that they are purchasing the correct vehicle from the recorded legal owner.
"Fraud is rampant in the private-party market and with this new feature, we're taking the right steps to keep both parties safe and secure," says Brad Parker, Co-Founder and CEO of PrivateAuto. "No other platform has this level of cross-referencing data for private-party transactions. PrivateAuto is now the best platform to avoid fraud in a private-party deal."
Both sellers and buyers have access to purchase a Title Check when going through the deal process, or in the Service Hub in the PrivateAuto app. Sellers will see their own information on the Title Check Report, whereas the buyer will have a pass/fail indicator on each check so the seller's information remains confidential.
"At YASSI, we are deeply committed to enhancing security and reducing fraud in the auto industry. Our partnership with PrivateAuto helps to ensure that private-party vehicle sales are as safe and transparent as possible. PrivateAuto has set a new standard for the industry on how to create a seamless and secure way to buy and sell cars, and we are happy to play a part in that," says Lee Perine, VP of Partnerships at YASSI.
The Title Check feature brings PrivateAuto one step closer to offering everyday people the tools to avoid fraud and enable a level of transaction security never before possible in the private-party market.
About PrivateAuto
PrivateAuto is the first transactional marketplace that enables a secure way to buy and sell vehicles privately. Founded in 2020, the company provides a self-service platform that removes the middleman and uses proprietary banking technology so buyers and sellers can safely close the sale on their own, anytime. For more information, visit privateauto.com.
About YASSI
YASSI is the leading platform of record for the vehicle and driver ecosystem. Utilizing the highest level of data security and the latest technology, YASSI provides a single point API to access real-time vehicle lien, title and registration data. YASSI services help streamline and enhance the work of financial institutions, dealers, fleet management, auctions and salvage companies across the dynamic and ever-expanding ecosystem serving vehicles and the people who operate them. YASSI is headquartered in Santa Rosa, California.
Contact Information
Caleb Whittle
Head of Marketing
pr@privateauto.com
SOURCE: PrivateAuto
View the original press release on newswire.com.
