Is Your Odometer Telling the Truth?
Well, back in 1986, Congress passed the Truth-in-Mileage Act to protect GA consumers against mileage fraud. It says a GA seller must certify the mileage reported is the actual mileage.
There may be numerous reasons,If it isn’t, the seller must say why; for example, maybe the odometer is past its mechanical limits. Some older odometers only go to 99,999 and then start over at 0. Or, the odometer has been tampered with, broken or replaced.
To have your odometer checked in Lawrenceville, GA, stop by Global Auto Solutions:
Global Auto Solutions
2710 Lawrenceville Highway
Lawrenceville, GA 30044
If the seller tells you the mileage isn’t accurate, there’s not much chance of putting a good number to it. And there’s the unscrupulous seller who claims the reading is true, but it isn’t. What can vehicle owners do?
You can go to www.CarFax.com, where, for a small fee, they’ll give you a comprehensive vehicle history search on your vehicle, showing local Lawrenceville, GA, ownership history, accident reports, total-loss events, manufacturer buybacks, Lemon reports and warranty status.
Odometer Rollback Fraud
Rolling back an odometer is not just wrong, it is fraud. Furthermore, most states have their own consumer protection laws that give car buyers even greater protection.
Some consumers are under the misconception that odometer fraud disappeared when yesterday’s mechanical odometers were replaced with today’s digital odometers. After all, how do you tamper with your car’s computer?
You might be surprised to learn that the process is fairly easy, especially for anyone with access to certain online tools.
What can it cost you as a buyer?
There are the financial damages incurred by the unsuspecting buyers. All things being equal, a higher mileage vehicle typically commands a lower price on the used market, and once the true odometer reading becomes known your car’s value is reduced. How much is your car worth? You can find out by using CARFAX Value.
You would be surprised to know that there is a significant difference on how an adjustment of a few thousand miles will affect the value to a car. For the most part, odometer rollback fraud incidents involve tens of thousands of miles. A vehicle that is 7 or 8 years old may have 20,000 miles more than it actualy reads.
There are other repercussions when discovering a rolled-back odometer. If you are financing your vehicle, you will have to inform the finance company and that can lead to an increase in your interest rate. You’re likely to have your insurance premium go up. Insurance policies are based on a number of factors, including a vehicle’s body style, make, model, model year, condition and mileage.
A worst-case scenario, your insurance might be canceled.
You can face bigger issues down the road expecting to do maintenance items you might have thought were months or years away, but now require immediate attention. Specifically, if you compare the actual odometer reading with the maintenance schedule in the owner’s manual, you may discover that something like the shocks or struts are due for a replacement.
If so, proceed with caution. Or, negotiate a lower price. Or just walk away. There’s always another vehicle.
To learn more watch the Rollback Odometer video