Florida Lenders and BHPH Dealers: ELT is Here
for Auto Dealers and Financial on Thursday, January 17, 2013 by Mike SamaanAs of January 1, 2013, the new Florida Electronic Lien and Title (ELT) process is mandatory for any business that finances vehicles, vessels or mobile homes in Florida. Under the new system, liens will be maintained electronically. The new requirements are a change for many dealers, but transitioning to an electronic system should reduce title fraud and provide faster notification of lien satisfactions.
Florida’s ELT implementation also means that buy-here pay-here dealers without ELT numbers may not be able to process liens after the DMV changeover in February, but it’s not too late – you can still sign up to add ELT access to your ADD account.
ADD’s web-based ELT service offers volume discounts, an online lien manifest, email and text notification, printable confirmations, integrated paper title requests and many additional dealer tools.
New users can to take advantage of ADD’s free activation offer, by entering the promo code FIADAELT at sign up. For questions about ADD’s ELT service, contact ADD at info@add123.com or call 855-300-3455 .