Associating a Security Interest Holder with a Vehicle

A single title can have up to three active security interest holders assigned. The name and address of each customer holding a security interest in the vehicle is printed on the title. The security interest holder that is designated as the primary gets the original title.

Note: Someone who holds a security interest in a vehicle may or may not have a formal "security interest holder" designation in MOVRS. Customers who are designated as formal security interest holders have the Security Interest Holder check box selected on the General tab of the Customer Maintenance window. To change a customer's security interest holder designation, see Changing the SI Holder Designation.

When you add a security interest, you can also complete the following supplemental procedures:

• Adjusting a Fee.
• Adding a Supporting Document.
• Scanning Documents and Creating Online Images.

To associate a security interest holder with a vehicle

1. On the VRT menu, select Title Transactions > Add/Release SI.

   The Add/Release SI Prequalifier window appears.

2. Locate the vehicle by entering the vehicle identification number or the identification number of the customer who is associated with this vehicle, specifying the type of ID corresponding to that number, and clicking Continue.

   Tip: If you do not know the vehicle or customer identification number, click Vehicle Search or Customer Search to open the Search window and find the vehicle or customer you want.

   When the vehicle is identified, the Add/Release SI window appears.

   Note: If you entered a partial identification number or if the vehicle or customer you entered is not found, the Search window appears. For more information, see Entering Information on a Prequalifier Window.

3. On the Application tab, under SI Information, click Add.

   The Search window appears, displaying the Customer tab.

4. Enter search parameters to find the customer who you want to associate with this vehicle as a security interest holder.
5. Click Search.

   If your search returns more than one result, the Results tab appears, listing the results. If your search returns only one result, the Add/Release SI window appears with that customer listed in the SI Information area.

6. If your search returned more than one result, double-click the customer you want to associate as a security interest holder.

   The Add/Release SI window appears with that customer listed in the SI Information area.

   Note: If the customer you want to assign as a security interest holder doesn't appear in the search results, you can add it by clicking Add Customer and completing the Customer Maintenance window.

   Note: If you need to remove an existing security interest for this vehicle, you can do so by specifying a date in the Release Date column and selecting a reason from the Release Reason column for the security interest you want to remove.

7. Click Pay Now.

   MOVRS checks for errors. If you need help resolving errors, see Errors, Discretionary Edits, and Warnings. When all errors are resolved or if no errors are found, the payment processing application opens.

   Note: For a list of other processing options, see Transaction Processing Options.

8. Enter the payment information.

   Tip: If you need specific help with the cash drawer, see Processing a Payment in the Cash Drawer and Finance online help.

9. After you finish processing the payment, the Finalize Transactions window appears.
10. In the line of the transaction you completed, click Finalize.

    The Generate Credentials window appears.

11. Click Generate.

    The documents produced in the transaction generate and print. Titles are not printed for vehicles that have active security interests assigned. If you add a security interest when none was previously assigned, and if the customer did not surrender the original title in the process, then a letter is generated for you to print and send to the customer who must return the title.

    Note: If you finalize multiple transactions at once, credentials are generated automatically.

If a title is in the print queue and has not yet passed the full wait period when a security interest holder becomes associated with it (either from an interface to another computer system or from a system user change), then the title is removed from the print queue (which is visible from the Manage Title Pending Print Form window) and is marked as electronically held.