Secure Your Deal: State Odometer Disclosure Statement | Mileage Accuracy

Are you buying or selling a vehicle and need to provide an odometer disclosure statement? Our Odometer Disclosure Statement template is the perfect solution to ensure compliance with state laws and protect your business interests. At BizzLibrary.com, we offer a wide range of professionally drafted legal document templates to help you save time and money.

What is an Odometer Disclosure Statement?

An odometer disclosure statement is a legal document that reports the mileage of a vehicle at the time of sale. Federal law requires that this statement be furnished to the buyer of any vehicle that is less than ten years old. The purpose of this statement is to provide accurate information about the current mileage and history of the vehicle, helping buyers to make informed decisions and preventing fraud.

Why is Odometer Disclosure Statement Important?

An inaccurate odometer reading can lead to serious legal issues, including financial penalties and liability for damages. Failing to provide a proper odometer disclosure statement can also result in an invalid sale, exposing both the buyer and seller to potential risks. Here are some reasons why it's important to have an odometer disclosure statement:

1. Laws and Regulations: State laws require that an odometer disclosure statement be furnished when selling a vehicle. In some states, the form must be notarized to be valid.
2. Liability and Fraud Prevention: An accurate odometer reading helps prevent fraud by ensuring that the buyer has the correct information about the vehicle's condition and history. It also protects the seller from potential liability for odometer-related issues.
3. Transparency and Trust Building: Providing a proper odometer disclosure statement builds trust with the buyer and emphasizes your commitment to transparency. It helps establish a positive relationship, increasing the likelihood of a successful and satisfied transaction.

What our Odometer Disclosure Statement Template Includes?

Our Odometer Disclosure Statement template is designed to be easy to use and customizable to your needs. It includes the following elements:

• Odometer reading (mileage)
• Date of disclosure
• Vehicle identification number (VIN)
• State of issuance
• Specific codes identifying mileage documentation type

Download your Odometer Disclosure Statement Template Today

Ensure that the sale of your vehicle is valid and secure with our Odometer Disclosure Statement template. It's available in DOCX format and can be downloaded instantly from our website. Visit bizzlibrary.com now to access this and many other document templates, including sales agreements, purchase orders, and more. Save time, reduce risks, and streamline your business transactions with BizzLibrary.com.