DMV's Online Salvage Pool feature allows salvage pools to conduct DMV transactions electronically. Salvage pools can print non-repairable certificates at their location, and title documents are available from DMV the following morning.
Electronic access to DMV is made possible through hardware and software provided by CVR. The other vendors, dealertrack (formerly known as triVIN) or Title Tec may provide access in the future.
- Going online with DMV eliminates the need to file paper applications for titling and non-repairable certificates at DMV.
- The salvage pool pays for fees and taxes electronically.
- Courier service is available to deliver ownership and other transaction documents to DMV in Richmond for auditing and microfilming.
- Non-repairable certificates print at the salvage pool site.
- Title documents are available at DMV in Richmond the next day.
The process begins when the salvage pool acquires a vehicle from the insurer.
- The online salvage pool electronically submits the application for a title on a non-repairable certificate to DMV.
- DMV responds electronically with the title, log numbers and transaction data on the existing title.
- Funds are transferred electronically from the salvage pool's account to DMV via an electronic fund transfer (EFT) within seven days of the transaction.
- The salvage pool submits all transaction documents plus daily reports to DMV via the courier service.
- Provides the electronic liaison between the salvage pool and DMV. The vendor will furnish the salvage pool with the hardware and software necessary for electronic access.
- Ensures that the salvage pool complies with DMV requirements.
- Reconciles and transfers funds from the salvage pool to DMV's account daily and generates summary reports.
- Trains salvage pool personnel to use the online system.
Online Salvage Pool
- Submits applications for titles or non-repairable certificates electronically to DMV.
- Forwards daily reports and ownership documents to DMV, using a courier service (if 24 -hour turn around is required).
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