Odometer Disclosure Statement - Official State Mileage Statement

When it comes to selling or buying a used car, it's essential to have an odometer disclosure statement in place. An odometer disclosure statement is a legal document that outlines the mileage of a vehicle at the time of sale. This document is required by law in most states and is designed to protect buyers from fraud and misrepresentation.

What is an Odometer Disclosure Statement?

An odometer disclosure statement is a legal document that provides a written record of a vehicle's mileage at the time of sale or transfer. It includes the name, address, and signature of both the buyer and seller and is typically required by your state's Department of Motor Vehicles (DMV). The purpose of this document is to prevent odometer fraud, which occurs when someone rolls back the odometer to make it appear that a vehicle has less mileage than it actually does.

Why is an Odometer Disclosure Statement Important?

Providing an odometer disclosure statement is critical as it prevents fraud during the sale or transfer of a vehicle. Here are some reasons why an odometer disclosure statement is essential:

1. Compliance with State Laws: An odometer disclosure statement is typically required by state law to protect buyers from fraud.
2. Legal Protection: By providing an odometer disclosure statement, you are offering a legal defense in case of any future claims regarding the mileage of the vehicle.
3. Protecting the Buyer: An odometer disclosure statement is essential in protecting the buyer from purchasing a vehicle with a tampered odometer that could lead to inaccurate maintenance and repair records.

What Should an Odometer Disclosure Statement Include?

An odometer disclosure statement should include the following information:

• The year, make, model, and vehicle identification number (VIN) of the vehicle
• The date of sale or transfer
• The vehicle's mileage at the time of sale or transfer
• The buyer's name and address (if applicable)
• The seller's name and address (if applicable)
• A statement that the vehicle's odometer reading is accurate and that the mileage has not been altered or tampered with in any way.

Get Your Odometer Disclosure Statement Template

Don't take any risks when buying or selling a used vehicle. Protect yourself and ensure compliance with state laws by using an odometer disclosure statement. Download our professionally drafted odometer disclosure statement template in DOCX format today and rest assured that your interests are protected. At BizzLibrary.com, we offer a wide range of business document templates to make your life easier, including legal contracts, sales agreements, and more.

Visit us now and browse our collection of easy-to-use templates. Download your copy of an odometer disclosure statement today and complete your vehicle sales agreements with confidence!