The Need for an Odometer Disclosure Statement
The typical new car owner maintains their automobile for six to eight years; however, when properly maintained, today’s cars can sometimes last 20 years or longer.
Accordingly, most cars will have two or more owners during their lives, and a sales transaction occurs each time the ownership of a car changes. An Odometer Disclosure Statement is one of the accurate documents required to accomplish that transaction.
What does an odometer disclosure statement mean?
An official document called an Odometer Disclosure Statement gives the odometer’s exact mileage when the car is transferred from the seller to the buyer. Additionally, it must be noted on the statement if it is known that the mileage is off. Odometer Disclosure Statement Washington is necessary for all automobiles less than ten years old.
Did you know that tampering with an odometer is against the law? The NHTSA states that it is illegal to disconnect, modify, or reset an odometer to change the displayed mileage.
But scammers are everywhere, and one of their methods is to “roll back” the automobile’s mileage to make it appear newer and more desirable to customers and raise the price.
Why is it crucial?
Cars are expensive, and if the odometer reads 100,000 fewer miles than the actual number, you may be purchasing a vehicle with significantly more wear and tear than you anticipated.
Even a difference of 10,000 or 20,000 miles for newer cars can substantially impact the vehicle’s value. A suspicious deal may have cost the buyer hundreds of dollars.
Remember that an odometer could differ from the actual mileage for valid reasons. The odometer could be reset to 0 miles for digital instrument clusters during a warranty replacement. A car owner can transparently sell their vehicle by Odometer Disclosure Statement Washington.
The process for obtaining an odometer disclosure statement
Every state needs odometer disclosure statements, and you can find the form on the website of the department of motor vehicles where you live. While some states will tell you to utilize the federal form, others have their form that you must fill out.
A fully completed form has the names of the buyer and the seller, the certification date, the year, manufacturer, model, VIN, and the precise mileage as of the certification date.
It’s always necessary to check the odometer disclosure statement before you buy a car, and it is also advisable to check your car history. A car history report can highlight ownership gaps, point out odometer problems, or confirm that the mileage is compatible.
If anyone found to have engaged in fraud by hiding altered mileage, they are susceptible to punishment under the federal odometer law. If you face any such issues, Allenstewart P.C. can help you.
Andrew Richardson is the author of this Article. To know more about Cars complaint please visit our website: allenstewart.com
