Title: Understanding the NC DMV Odometer Statement: Types and Requirements Introduction: The North Carolina Department of Motor Vehicles (NC DMV) requires individuals buying or selling motor vehicles to submit an odometer statement. This statement provides important information about the mileage recorded on the vehicle's odometer at the time of sale or transfer. In this article, we will delve into what an NC DMV odometer statement is, its purpose, and the different types available. 1. What is an NC DMV Odometer Statement? The NC DMV odometer statement is a legal document that discloses the mileage on a vehicle at the time of sale, transfer, or registration. It acts as a safeguard against any fraudulent practices, ensuring the buyer has accurate information about the vehicle's mileage. 2. Types of NC DMV Odometer Statement: a) Basic Odometer Disclosure Statement: The Basic Odometer Disclosure Statement is the most common type used for most vehicle sales or transfers in North Carolina. Sellers or transferees have to provide accurate odometer readings and personally sign the statement. This statement is mandatory for vehicles that are less than ten years old. b) Exempt Odometer Disclosure Statement: The Exempt Odometer Disclosure Statement is used when a vehicle is exempt from mileage reporting due to its age or specific classification. These exemptions may apply to antique vehicles, certain types of trailers, or specific classes of vehicles. c) Foreign Vehicle Odometer Disclosure Statement: This type of statement is used when a vehicle is imported from another country and must comply with the NC DMV odometer disclosure requirements. It verifies accurate mileage conversion from the foreign unit to miles or kilometers. 3. Requirements for NC DMV Odometer Statement: a) Accurate Odometer Reading: The statement must include the exact mileage at the time of sale or transfer. Sellers should ensure they have recorded the mileage accurately without any alterations or tampering. b) Seller/Transferee Signature: Both the seller and transferee must sign the statement, acknowledging that they have provided and received accurate mileage information. c) Disclosure of Known Problems: If there are known issues with the vehicle's odometer or mileage, the seller must mention them in the disclosure statement. d) Statement Date: The statement should include the date it was completed and signed. e) Vehicle Details: The statement must contain essential vehicle information, such as the VIN (Vehicle Identification Number), make, model, year, and any other necessary identifiers. Conclusion: Understanding the NC DMV odometer statement is crucial when buying or selling vehicles in North Carolina. By familiarizing yourself with the types of statements available, their requirements, and the importance of accurate mileage reporting, both buyers and sellers can ensure a fair and transparent transaction. Remember to always comply with the guidelines provided by the NC DMV to avoid any legal implications or complications in the future.
Nc Dmv Odometer Statement With Title
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Describe the situation with the odometer, name the miles that are currently on the odometer; Fill the seller's section with the signature, printed name, address, and certification date; Leave the buyer's section empty for the buyer to fill.
New Unregistered Vehicles Liens: All liens must be declared in order of their priority. Odometer Disclosure Statement (MVR-180): Seller shall disclose the mileage to the buyer in writing on the application with signatures and hand printed name. If a vehicle is 10 years old and older, odometer reading is not required.
This written disclosure must be signed by the transferor, including the printed name, and shall contain the following information: (1) The odometer reading at the time of the transfer (not to include tenths of miles); (2) The date of the transfer; (3) The transferor's name and current address; (3a) The transferee's ...
To complete the North Carolina car title transfer form, you will need to provide the following info: Name and address of the buyer and current vehicle owner. Date of sale. Car mileage, condition, and purchase price. Odometer reading. Completed a bill of sale. Completed Certificate of Title. Damage disclosure statement.
For a title transfer, the information on the back of the original title must be completed by both the original owner and the recipient. North Carolina titles must be notarized. For out-of-state titles, NCDMV will recognize that state's requirements.