WHICH SERVICE DO YOU NEED?
There are two types of VINLock services: success-based services and fee-based services.
Success-based services are provided to lenders at no upfront cost. VINLock only charges when a vehicle needs to be intercepted.
1. Anti-Export Program
In this program, you pay for the successful interception of a vehicle at national and international borders. VINLock charges Bailiff fees, transport costs, legal costs (if applicable), and any container handling fees.
2. Double Financing
Either through an electronic data interchange/web services or an online interface, lenders can access VINLock's dataset to determine if another lender has already financed the vehicle. Vehicles that are already financed are deemed "VINLocked".
Fee-based services are the second group of VINLock service offerings. The costs associated with these services are charged based on third party data costs.
1. VIN Monitoring AKA The Virtual Lot Audit
VINs are monitored at the Provincial Ministries of Transportation for changes in VIN ownership status. Lenders are notified with the dates of all ownership transfers..
2. PPSA Registration
VINLock can become your PPSA registrar in Canada. Once a PPSA is registered, VINLock will monitor this data (through VIN Monitoring, above) so that VINs that turn up as being registered in another province will have a PPSA registered in the new jurisdiction.