PrivateAuto, YASSI partner to offer DMV title checks for private-party sales
PrivateAuto, a transactional marketplace for private-party vehicles, has launched DMV title checks as an add-on service through a partnership with Yotta Automated Software Solutions Inc., a platform providing real-time vehicle lienholder, registration and title data.
PrivateAuto said the addition of YASSI to its platform is designed to reduce fraud and enhance buyers’ confidence in private-party transactions. The company said buyers of private-party vehicles haven’t previously had the ability to check title information with state DMV records, but can now be sure they’re 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,” PrivateAuto co-founder and CEO Brad Parker said in a news release. “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.”
Sellers and buyers can purchase a title check when going through the deal process or through the service hub in the PrivateAuto app. Sellers see their own information on the title check report, while buyers have a pass/fail indicator on each check so the seller’s information remains confidential.
“We are deeply committed to enhancing security and reducing fraud in the auto industry,” YASSI vice president of partnerships Lee Perine said. “Our partnership with PrivateAuto helps to ensure 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.”