A recent odometer fraud indictment alleges that in one instance, the true mileage of the vehicle was greater than 100,000 miles more than the title.
Odometer fraud remains a major problem for car owners and shoppers with more than 190,000 vehicles having their odometers rolled back every year, according to a new survey. This potentially is costing victims in excess of $760 million in lost value and unexpected repairs. While an estimated one million rollbacks are spread across every state, consumers in California, Nevada, Massachusetts, New York and Texas run the highest risk of buying one.
Carfax, the source of the data, says that the majority of odometer rollbacks have at least 50,000 miles taken off. In addition, 14-15 year-old cars are most susceptible to a rollback.
This is because crooks are taking advantage of longer vehicle lifespans and readily available devices to dupe unsuspecting consumers. An odometer correction tool, easily found online, can be used illegally to alter digital odometers. Many odometer fraud cars are sold through online classifieds and private sales, but some criminals attempt to trade them in at dealerships as well.
Consumers worried about odometer fraud can check free at www.carfax.com/odo. Here are some tips to help avoid buying a rolled-back car:
- Check that the car’s wear and tear is consistent with the odometer reading.
- Ask the seller for service records and note the mileage on them.
- Buy from a recommended dealership or trusted seller.
- Be wary of ‘too good to be true’ deals or overly aggressive sellers who want a quick sale.
- Have a trusted mechanic thoroughly inspect the vehicle and check its computer.
- Get a Carfax Vehicle History Report from the seller or at www.carfax.com.
