What You Should Look for in an Odometer Disclosure Statement When Buying a Used Car

It’s key to understand a used car’s history and condition before purchasing. The odometer reading is an important factor to take into account.

An odometer is a device that keeps track of a vehicle’s overall mileage and can give you an idea of how far the car has been driven. You should audit the odometer disclosure statement to acquire accurate data about the odometer reading.

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What is an odometer disclosure statement?

The report is to forestall odometer fraud, which happens when a vehicle’s actual mileage is misrepresented. A Federal Odometer Statement is a legal record that gives data about a vehicle’s odometer reading. It is legally necessary for many states and is commonly included as a part of the paperwork while buying or selling a used car.

What Is it advisable for you to look for in an odometer disclosure statement?

  1. Precision of the odometer reading

The main snippet of information on the disclosure statement is the genuine odometer reading. Ensuring that the reading is exact and matches the number on the vehicle’s odometer is fundamental. Assuming the odometer reading is incorrect, it could show that the vehicle has been altered, which could influence its general worth and security.

  1. Previous odometer readings

In addition to the ongoing odometer reading, the odometer disclosure statement in Illinois should include past odometer readings. This can assist you with deciding whether the vehicle has gone through huge wear and tear or if the past owner has attempted to roll back the odometer.

  1. Signatures of previous owners

It should also include the Signatures of all past owners of the vehicle. This is significant because it affirms that the data on articulation is exact and cutting-edge. If the past owners didn’t sign the document, it could show that the odometer reading is inaccurate.

  1. Title branding

The odometer disclosure statement in Illinois should show if the vehicle has been branded as “not actual mileage” or “exceeds mechanical limits.” This implies that the mileage on the vehicle isn’t precise or not determined because of a malfunctioning odometer. Vehicles with this sort of branding might have been messed with, and it’s essential to know about this information while buying.

  1. Vehicle identification number (VIN)

At last, the odometer disclosure statement should incorporate the vehicle ID number (VIN). The VIN is a unique 17-digit code that distinguishes the vehicle and can be utilized to follow its history. By comparing the VIN on the statement and the VIN on the vehicle, you can affirm that you are looking at the right vehicle and that the information on the statement is precise.

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Final thoughts

While purchasing a pre-owned vehicle, it’s crucial to survey the Federal Odometer Statement to get exact information about the vehicle’s mileage. By checking the above-given factors, you can guarantee that you are settling on an educated choice while buying a used vehicle.

If you feel wary about the precision of the odometer reading, it’s ideal to talk with a confided maintenance specialist or expert before buying.

This information brought to you by Allen Stewart P.C.