![]() ![]() Some states use a federal form for the statement, and others have their own unique templates. You can visit your state Department of Motor Vehicles (DMV) website for specific details about where you live. How to Obtain an Odometer Disclosure StatementĮvery state requires some form of odometer disclosure statement. Yet, we all know that there are unscrupulous sellers out there who do not follow the law – that’s where an odometer statement comes into play. Under the penalty of a fine of $1,500 or more plus legal fees, the law states that an owner cannot disconnect, reset, or alter an odometer for the purpose of changing the mileage display reading. In some cases, more miles can mean much more money in repairs.įederal law prohibits “rolling back” or otherwise tampering with an odometer. Since modern cars tend to last a good 20 years or more, that means they can rack up many miles on the odometer.īut how do you know the number on the odometer is accurate? What is the actual number of miles the car has driven is far greater than what is on the odometer? That situation could mean that a buyer is getting a car worth significantly less than they expect. ![]() ![]() Most passenger vehicles today will have at least two owners during the time they are on the road. When Is an Odometer Statement a Good Idea? If the seller knows that the car’s mileage is incorrect, the document must contain that information. An odometer disclosure statement is a legal document that states the accurate mileage on a vehicle’s odometer at the time of transfer from the seller to the buyer. ![]()
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