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.
But con artists are omnipresent, and one of their methods is to "roll back" the automobile's mileage to make it appear newer and more desirable to customers and raise the price.
Odometer disclosure statements are necessary for any automobiles less than ten years old.
2- Why is it vital to have an odometer disclosure statement?
Automobiles are expensive, and if the odometer reads 100,000 fewer miles than the actual number, you may purchase a vehicle with significantly more wear and tear than anticipated. Even a difference of 10,000 or 20,000 miles for newer cars can significantly impact the vehicle's value. A dubious deal may have cost the buyer hundreds of dollars.
A car owner can transparently sell their vehicle by disclosing the modification. Remember that an odometer could differ from the actual mileage for valid reasons. The odometer could be reset to 0 miles for digital instrument clusters during a warranty replacement.
3- The process for obtaining an odometer disclosure statement
Every state needs odometer disclosure statements, and you can find the form on the website of the department of motor vehicles where you live. While some states will tell you to utilize the federal form, others have their form that you must fill out.
A fully completed form has the names of the buyer and the seller, the certification date, the year, make, model, VIN, and the precise mileage as of the obtained odometer disclosure statement Washington.
In a nutshell
When purchasing a car less than ten, you must be given an Odometer Disclosure Statement. It is doable. But how can you know the mileage listed on the form is accurate? Could a con artist falsify the statement?
So, you should contact the lawyers of Allen Stewart to obtain an odometer disclosure statement Washington.