Odometer Disclosure Statement And Explanation Of Discrepancy Arkansas
Description
How to fill out Washington Bill Of Sale Of Automobile And Odometer Statement?
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FAQ
Vehicle odometer readings are close to the actual mileage traveled, but not precise. Surprisingly, there is no federal law that regulates odometer accuracy. The Society of Automotive Engineers set guidelines that allow for a margin of error of plus or minus four percent. But that's it.
In Arkansas, the seller of a motor vehicle is required to file a federal odometer statement with the Arkansas Office of Motor Vehicle. The statement must be filed at the time of sale or transfer of ownership of a motor vehicle with a model year of 10 years old or newer.
Committing odometer fraud is a crime. The federal government passed a law that requires a written disclosure of the mileage registered on an odometer be provided on the title by the seller to the purchaser when the ownership of a vehicle is transferred.
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 ...
Box one should be used if the vehicle's odometer has ?rolled over.? Years past this was common when most vehicles only had an odometer that went up to 100,000 miles, but nowadays it is very uncommon to use this box. Box two should be used if the odometer is inaccurate.