You might be thinking, “what is an odometer disclosure statement’ and why it’s important?” Well, it’s a document that contains the original mileage of a vehicle’s odometer. The document states the actual mileage when the vehicle gets transferred from the seller to the purchaser.
When the seller is well aware that the vehicle has the wrong mileage, this particular legal document should state that information. Let’s gain more information about it from this post.
Why an odometer disclosure statement is needed?
Just knowing what is an odometer disclosure statement’ will not be enough, as you have to know why exactly it’s needed in the first place. An odometer disclosure statement is needed because it will keep you protected from odometer fraud.
There are certain ways through which these types of fraud are conducted, and with the help of this legal document, you can easily detect them. Speaking of odometer fraud, here are three kinds of them:
- 1st Degree Fraud:A small device is planted inside the vehicle to read various mileage compared to the ones that are driven.
- 2nd Degree Fraud:Someone has messed up or reset the odometer for which it provides a wrong mileage.
- 3rd Degree Fraud:A vehicle is over 10 years old and has a malfunctioning or disconnected odometer, which is driven on a regular basis.
How can you get the odometer disclosure statement?
All the states need an odometer disclosure statement, and you can obtain one from the Department of Motor Vehicles of the state you belong to. Several US states utilize the federal form of the odometer statement, and other states have their own template.
The odometer statement form contains some crucial information, which are:
- The correct mileage during the time of odometer certification
- The contact information and name of the vehicle purchaser
- The contact information and name of the vehicle seller
- VIN or vehicle identification number
- The model number, make, and year of the vehicle
- The date when the odometer was certified
The statement does not Exempt Odometer in Texas information mentioned above, but you will also find other information that is pretty vital.
You will also get the chance to verify the vehicle’s mileage with the odometer statement after buying the vehicle’s history report from companies that provide them. The history report of the vehicle contains information on the potential fraud or is consistent with the reading.
Ending Note
The odometer disclosure statement can keep you safe from odometer fraud effectively. It will also not Exempt Odometer in Texas information, which is extremely crucial. Furthermore, the statement will mention the actual vehicle mileage.
That way, you will know whether or not the odometer was messed with, if it malfunctioned, or when someone placed a device inside the vehicle so that the odometer reads incorrect mileage.
Andrew Richardson is the author of this Article. To know more about Exempt Odometer in Texas please visit our website: allenstewart.com
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