Secure Your Transaction with an Odometer Disclosure Statement

When buying or selling a vehicle, it's important to have an accurate record of the vehicle's mileage. One of the key documents for this purpose is the Odometer Disclosure Statement (ODS). This statement is required by law in many states in the US and is used to verify the vehicle's mileage at the time of sale. At BizzLibrary.com, we offer a professionally drafted Odometer Disclosure Statement template in DOCX format to help you ensure legal compliance and avoid potential legal issues related to inaccurate mileage documentation.

What is an Odometer Disclosure Statement?

An Odometer Disclosure Statement is a legal document that shows the vehicle's mileage at the time of sale or transfer of ownership. It contains details about the vehicle, such as make, model, and year, as well as the name and address of the buyer and seller. It further confirms that the seller has disclosed the accurate mileage of the vehicle and acknowledges that any tampering with the odometer is illegal and prohibited.

Why is Odometer Disclosure Important?

Odometer Disclosure is a legal requirement in many states and is important for several reasons:

• Consumer Protection: It prevents odometer fraud and helps protect consumers from buying a vehicle with an incorrect or rolled-back odometer reading.
• Legal Compliance: Many states require an ODS as a legal document for transferring vehicle ownership. Non-compliance can result in fines and penalties.
• Financial Liability: Providing an incorrect mileage reading can have serious financial implications for vehicle sellers. Inaccurate readings can result in legal disputes and potential financial damages.

What Information Does the ODS Include?

The Odometer Disclosure Statement typically includes the following information:

• Name and address of the seller and buyer
• Description of the vehicle (make, model, year, and identification number)
• Date of the sale or transfer of ownership
• Mileage of the vehicle at the time of sale or transfer of ownership
• State where the sale or transfer of ownership took place
• A statement indicating whether the mileage on the odometer reflects the true and actual mileage of the vehicle

Download Your Odometer Disclosure Statement Template

At BizzLibrary.com, we understand the importance of accurate and reliable documentation in the vehicle buying/selling process. That's why we offer a professionally-designed Odometer Disclosure Statement template in DOCX format.

Visit our website now to access this and a wide range of other legal document templates, including sales agreements, partnership agreements, and more. Download your ODS today and secure your interests in any vehicle transaction!