Remarketing Solutions Partners With VINtek to Offer Electronic Lien and Title Service

    NASHVILLE, Tenn.--Oct. 17, 2001--Remarketing Solutions has announced that the company will offer an Electronic Lien and Title (ELT) service, powered by VINtek, a leading automotive industry software and services company. With ELT, lien holders can store an electronic lien and title message instead of a paper title, which provides processing efficiencies.
    "We're pleased to offer our customers such a valuable new service," said Nick Peluso, president of Remarketing Solutions. "In the vehicle remarketing business, it's critical for remarketers to know where the titles of vehicles are at all times in order to dispose of vehicles quickly and efficiently. By offering our customers an Electronic Lien and Title service, we enable them to save both time and money by eliminating the potential for lost paper titles. This translates to less delay and faster vehicle disposition, which results in higher returns for our customers."
    Currently Remarketing Solutions' customers in California, Florida, Idaho, Massachusetts, New York, Pennsylvania, Virginia and Washington will be able to take advantage of this service, as these states are the only states using ELT. More states, such as Texas, Arizona, Hawaii and New Hampshire are introducing ELT, which is a state motor vehicle agency initiative.
    "Electronic Lien and Title is an innovative service, and we're pleased to be one of the first (if not the first) in the industry to offer it," said Dave DeWolf, COO of Remarketing Solutions. "As more states embrace this technology, more and more of our customers will be able to benefit from the convenience."
    "As a leading automotive software and services company, VINtek is proud to partner with Remarketing Solutions, the nation's leader in remarketing vehicles," said Larry Highbloom, president of VINtek. "This agreement is affirmation that our software products are among the best in the industry, and we look forward to adding important capabilities and value to the relationship between Remarketing Solutions and their customers."
    For more information about this ground-breaking agreement, contact Remarketing Solutions' Nick Peluso, president, or Dave DeWolf, chief operating officer, at 615/333-1400.

    About VINtek

    Founded in 1990, VINtek is a software company that provides a suite of products designed exclusively for the automotive finance industry. Its products include: VINaudit, vehicle identification number decoding software; AUTOval, a used vehicle valuation product; and VINtekTIME, a vehicle title tracking product that includes ELT capability. In 1999, VINtek received a Top 10 Quality Award from Ford Motor Credit for ELT processing. VINtek also provides data exchange services for the Commonwealth of Pennsylvania in its ELT program. The company is based in Philadelphia, Pa.

    About Remarketing Solutions

    Remarketing Solutions, the automotive industry leader in total vehicle remarketing, specializes in a "One Call Does It All" approach for manufacturers, banks and finance companies, sub-prime lending institutes, captive finance companies, company-owned fleets and rental car companies. Twenty years ago, Remarketing Solutions began the first remarketing business in the United States. Remarketing Solutions offers a variety of services, including vehicle inspections, title processing, repossession and skip tracing, vehicle remarketing and transportation.