Changes Coming for Vehicle Valuation & MSRP Data Access via RMV

    Posted by MAIA on August 16, 2019

    RMV Valuation & MSRP ImageThe RMV’s current operational system (ALARS) provides insurance companies and agents access to Vehicle Valuation and Manufacturer’s Suggested Retail Price (MSRP) data from the National Dealers Association (NADA) via a screen and guest function. However, when the RMV completes its transition to ATLAS Release 2 on November 12, 2019, the guest function and access to NADA will go away.

    The RMV will be transitioning to NADA’s web-based service, and unlike today, will be charged on a per-user basis (as opposed to the annual flat fee they currently pay).

    Dos and Don’ts of Using NADA Data

    The RMV understands that insurers and agents use NADA data for two purposes:

    1)  To obtain the average trade-in price (minimum acceptable sales tax valuation) for a casual sale transaction; and

    2) To obtain the MSRP for insurance-related purposes.

    • The RMV provides MSRP data so you can accurately estimate appropriate registration and sales-tax fees; it was not intended to be used for insurance valuation or premium calculation purposes.
    • If you have been accessing NADA MSRP data through the RMV for insurance pricing reasons, the RMV requests that you discontinue this practice.
    • If you require this data as part of your business process, they recommend that you obtain your own license to NADA, or the valuation product of your choice.
    • Also based on the Access Agreement you signed, or are due to sign, a permitted use of data is required, and in this case, it is the RMV’s position that this does not pertain to use of the MSRP for insurance-related purposes.

    Where to Find Excise Tax MSRP Information

    Although the RMV will not offer a web service to NADA, the Excise Tax MSRP will still be available from the RMV via the following methods:

    • Business Portal User.  For business portal users, the RMV will offer a VIN-based inquiry that will 1) validate the VIN; 2) provide the vehicle description based on the VIN decoding product the RMV is using; 3) provide the MSRP; and 4) provide the average trade-in price (with the addition of the current mileage).
    • Pre-Stage Transactions (Get Ready).  For users that contract with the RMV-approved business partner that provides a web service with capability to update ATLAS with the information required for a title and registration transaction, the average trade-in will be displayed and the sales tax will be calculated as part of the transaction. Users of this service will not have to perform a separate inquiry to obtain this value.
    • General Registration Inquiries.  For users who process general registration inquiries, the “Excise Tax” MSRP will continue to be available via the general registration inquiry. The Excise Tax MSRP is applied after the vehicle has been registered.

    If you have any questions, please send an email to the ATLAS mailbox at ATLAS.IPM@state.ma.us


     

    For more information about MA Registry issues, please contact Kathy Cormier, 508-634-7353.


     


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    Topics: Registry News

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