Registration Renewal Payment Plan Provider

Summary (Newest Update)

Background The Nevada Department of Motor Vehicles (DMV) is seeking information from qualified third-party vendors regarding the development and administration of registration payment plan services as required under Assembly Bill (AB) 296, passed during the 2025 legislative session. This RFI aims to gather information to support planning, determine feasibility, and develop an upcoming Request for Proposals (RFP). The DMV's mission includes improving customer service through efficient resource utilization. Work Details The purpose of this Scope of Work is to procure and implement a third-party financial services provider ('Vendor') to offer installment loan/payment plan options for vehicle registrations (new/renewal). The Vendor shall: - Offer installment loans or payment plans to DMV customers; - Perform real-time decisioning and underwriting; - Clearly disclose all loan terms, including APR/Interest Rates, Fees (origination, late, NSF, etc.), Payment schedule and duration; - Assume all financial risk associated with loan repayment; - Disburse full payment amount to the DMV at the time of the transaction. The platform should be user-friendly and integrate into DMV digital channels (e.g., DriveNV portal), providing a seamless customer experience with minimal additional steps. The Vendor must comply with all applicable federal and state laws, ensure data privacy and security compliance, meet or exceed state cybersecurity standards, and provide detailed remittance and reconciliation reports. Customer service support for financing-related inquiries is also required. Period of Performance The RFI was released on May 1, 2026, with a deadline for responses on June 15, 2026. The timeline indicates that responses will be analyzed post-deadline to inform future solicitations. Place of Performance The services will be performed in Nevada as part of the DMV's operations. Bidder Requirements Vendors must be properly licensed to offer lending products in the State of Nevada. They are also required to maintain appropriate insurance coverage and comply with all applicable federal and state laws.