A legally binding agreement known as the Vehicle Transfer Agreement provides an accurate reading of the miles on the odometer when the car is transferred from the seller to the buyer, which is the "odometer disclosure statement." Additionally, it must be included on the statement if it is known that the mileage is off.
The typical new car owner maintains their automobile for six to eight years; however, when properly maintained, today's cars can sometimes last 20 years or longer.
Accordingly, most cars will have two or more owners during their lives, and a sales transaction occurs each time the ownership of a car changes. An Odometer Disclosure Statement is one of the accurate documents required to accomplish that transaction.
What is an "odometer disclosure statement," why is one required, and how can its integrity be verified? What you should know is as follow in this article.
1- What is an odometer disclosure statement, and what should I know?
Did you know that tamper with an odometer is against the law? The NHTSA states that it is illegal to disconnect, modify, or reset an odometer to change the displayed mileage.