Understanding Used Car Rollback and Lien Release Fees

When dealing with used car rollbacks and lien releases, it's important to be aware of the associated fees. This article outlines the key aspects you need to know regarding these costs.

Fees Overview

The fees for processing a used car rollback and releasing a lien can vary significantly depending on your location and the policies set by your lien holder. Here are some common charges you might encounter:

• Processing Fee: A fee may be charged for handling the paperwork related to the rollback.
• Administrative Fees: Additional administrative costs could apply when releasing a lien.

Contacting Authorities for Accurate Information

To obtain detailed information about specific fees applicable in your situation, it is advisable to contact your local Department of Motor Vehicles (DMV) or relevant authority. They can provide tailored guidance based on current regulations in your area.

Status Confirmation of Rollback and Finance Fees

You can confirm the status of used car rollback and finance fees by checking if they have been e-filed. Once processed, look for an RDF (Rollback Document Form) status; this indicates that all necessary steps have been completed.

Marking as Rollback

If you're managing deals, ensure that once it reaches RDF status, you mark it as a "Rollback" on the deals page. This helps maintain proper management and filtering within your records. For instance, if an FI user correctly marks it as a Rollback from Desking, this serves as an alert confirming that the RS (Rollback Status) being processed is indeed categorized correctly.

Date Due for New Car Rollbacks

The due date for any fees associated with rolling back a new car deal aligns with the first buyer's date of sale noted on the new car RS document. Keeping track of this date ensures timely compliance with financial obligations related to vehicle transactions.

This guide provides essential information regarding used car rollbacks and lien release processes—ensuring clarity around potential costs involved while navigating through these transactions effectively.