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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.
The law requires car dealerships (new and used) to disclose the actual mileage of a vehicle and inform the buyer if an odometer has been tampered with or destroyed, but there's a legal "loophole".
An odometer disclosure statement declares the mileage on your vehicle. They are required when buying a new car or selling a used one. You'll typically need to fill out an odometer disclosure statement to declare mileage on any vehicle that's less than 10 years old.
An odometer disclosure statement is simply a declaration of a vehicle's mileage as indicated by its odometer, and if whether or not it's an accurate reading. If you've ever sold a car you've actually completed a generic odometer disclosure statement.
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.
Odometer tampering is illegal. Whether you need to correct the mileage on a car title because of a mistake or as a result of odometer tampering, your local DMV will help you move forward. Make sure you correct the title accurately and fill out the appropriate paperwork.
On the back of the title the upper block of information that says ASSIGNMENT OF TITLE BY REGISTERED OWNER will be filled out. The buyer(s) name and complete address is printed on the first line. The odometer reading is entered in the space provided. The mileage is entered EXACTLY AS IT APPEARS ON THE ODOMETER.
The odometer is usually situated in the vehicle's dashboard. The word "odometer" is derived from two Greek words meaning path and measure. An odometer may be digital or mechanical.
When a car is sold in this scenario, the mileage is marked on the title as exempt. This is simply stating that the car has been around too long to reliably verify its mileage.