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May 30, 2024 609.292.5203
 

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NJMVC Launches Electronic Lien and Title System

TRENTON — Following the completion of a successful pilot program, the New Jersey Motor Vehicle Commission (NJMVC) today announced it is launching an Electronic Lien and Title (ELT) system. This new system allows lienholders financing vehicles in New Jersey to exchange lien and title information electronically with the NJMVC and eliminates the need for the manual processing and maintenance of paper titles.

“We’re excited to announce the availability of ELT in New Jersey,” said NJMVC Acting Chief Administrator Latrecia Littles-Floyd. “The system has huge advantages when it comes to processing liens and titles. It’s a win all around — and a big step forward in our continued efforts to modernize and improve the Commission.”

Lending institutions now can complete lien transactions in a secure, digital manner that will dramatically reduce the handling, printing, storage, and mailing costs associated with paper titles. Through the ELT system maintained by the NJMVC, lenders can confirm lien transactions, make any corrections, or release liens at the conclusion of loan. This speeds up the lien release process, making it easier for customers and retailers to obtain a lien-free title.

The notable benefits associated with ELT include:

  • Improved document security and a reduction of fraud risk with the elimination of paper records. Electronic transactions are processed quickly and securely, minimizing paperwork and physical transit, which reduces the opportunity for possible document manipulation.
  • Quicker processing of liens and titles that will benefit all parties involved with the sale or use of vehicles — NJMVC customers, financial institutions, car dealers, insurance carriers, fleet managers, and more.
  • Various cost and time savings for all parties involved, particularly those created due to reductions in printing needs, physical document storage, and manual shipment and delivery of paperwork.
  • Improved, simplified processing within NJMVC agencies, which will make the customer experience better and allow NJMVC staff to complete vehicle transactions with greater speed and efficiency.

 

The formal pilot for the ELT system was launched in January 2024. Since then, the NJMVC has worked with various banks and lenders to test and refine the system.  With the pilot successfully completed, the Commission is now working to expand participation by onboarding more lending institutions and parties with ELT in partnership with service providers Tyler Technologies, Inc., and Champ Titles, Inc.

In addition to the many benefits that ELT provides, the system will also serve as a base platform for the future digitization of the NJMVC’s titling and registration systems.

For more NJMVC news and information, please visit NJMVC.gov.