What information should be included in the electronic lien system?

The electronic lien system is designed to securely record and manage information regarding liens against vehicles. The inclusion of the Vehicle Identification Number (VIN) and lienholder information is essential because the VIN uniquely identifies the vehicle, while the lienholder information specifies which financial institution or entity holds the claim or lien against that vehicle.

By maintaining accurate and up-to-date records of the VIN and lienholder, the electronic lien system facilitates the efficient tracking of lien status and ensures that all parties involved in a vehicle transaction, such as buyers, sellers, and lenders, can confirm the current ownership and any outstanding claims. This helps to prevent fraudulent activities and provides a clear chain of title.

The other options, while they may contain relevant information for different aspects of vehicle transactions, do not specifically pertain to the core requirements of an electronic lien system. The price of the vehicle, for instance, is pertinent to sales transactions but irrelevant to lien management. The name of the consignor may relate to consignment sales, and vehicle inspection results are important for ensuring roadworthiness and compliance but do not directly connect to the lien's status or ownership management.