Keywords: Odometer disclosure statement, vehicle history, odometer reading, mileage, Federal Odometer Act, title transfer, motor vehicle sale. Description: An Odometer Disclosure Statement is a legal document that provides a detailed record of the mileage or odometer reading of a vehicle at the time of sale or transfer. This statement is crucial in ensuring transparency and accuracy in vehicle history, preventing fraud and misrepresentation. Under the Federal Odometer Act, which applies to all cars less than ten years old, the seller of a motor vehicle must disclose the accurate mileage to the buyer. This disclosure statement acts as a guarantee to the buyer that the information provided is correct and reliable. A typical example of an Odometer Disclosure Statement includes important details such as the vehicle identification number (VIN), make, model, year, and current odometer reading at the time of sale or transfer. It also includes the seller's and buyer's information, including their names, addresses, and signatures. Different types of Odometer Disclosure Statement examples may vary slightly depending on the state or country's requirements. Some variations include: 1. State-specific Odometer Disclosure Statement Examples: Certain states may have additional requirements or specific formats for the disclosure statement. For instance, California requires the use of an Odometer Disclosure Statement (REG 262) to accompany a Certificate of Title during the sale or transfer. 2. Electronic Odometer Disclosure Statement: With the evolution of digital record-keeping, many jurisdictions now allow electronic versions of the disclosure statement. These electronic statements often have built-in security features and digital signatures for authenticity and accuracy. 3. Manufacturer's Odometer Disclosure Statement: In some cases, vehicle manufacturers may include their own disclosure statement as part of the required documentation. This statement reaffirms the accuracy of the displayed mileage and assists in tracking service and warranty records. Odometer Disclosure Statements play a significant role in the title transfer process when selling or buying a vehicle. They serve as a protection mechanism for both the buyer and the seller, ensuring the accuracy of the odometer reading and preventing fraudulent practices. It is essential to review and accurately complete this statement to maintain integrity in vehicle sales and promote consumer trust.
Odometer Disclosure Statement Example
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How to fill out Odometer Disclosure Statement Example?
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FAQ
PURPOSE: Federal and state law require both seller (transferor) and buyer (transferee) to accurately state the mileage of any used motor vehicle, with a manufacture year of 2011 or newer, in connection with the transfer of ownership whether sale, trade-in or exchange.
California Certificate of Title The Mileage Disclosure section is required by law. Don't forget to enter the mileage on the date of the sale and sign it. Your vehicle title should always be kept in a safe place, as it is proof of ownership of your vehicle, and could be the only form you need to sell your vehicle.
The odometer disclosure should contain: The complete vehicle description (make, year model, body type, and vehicle identification number). The date of sale. Reference to federal and state law with the following or similar wording:
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. If the seller knows that the car's mileage is incorrect, the document must contain that information.
I you have a odometer that only has 5 places for numbers the highest mileage it can record is 99,999. SO when it goes past 99,999 it goes back to 00,000 at that point it has surpassed it's mechanical ability to record accurate mileage.