Odometer Fraud: Mileometer Reset, Rollback or Clocking

Odometer is a means of indicating distance traveled by a vehicle, but criminals are using different instruments to roll back the mileometer in order to sell the vehicle at a higher price. A high profitable fraud is represented by odometer rollback schemes. In addition to an old machine with false mileage you also get a car which will most likely need more maintenance and repair. Amateurs execute only a low percentage of odometer tampering.

ODOMETER FRAUD TYPES

False or Altered Titles – A clear title is much more valuable than a wrecked or damaged car title. This scheme appears when a dealer buys a high mileage vehicle and subsequently resells it with falsified, reduced odometer reading.

Reassigned Titles – An automobile dealer’s reassignment of the title may be attached to the original title. Numerous title reassignments may accompany both original title and the washed title. An dealer may also discard prior reassignments of title, making it difficult to trace ownership of the vehicle.

Title Laundering - It appears when a wrecked cars title is replaced by papers bought in another country. A dealer discharges the old title, registers his vehicle in another state with the altered odometer and then in a name of a company, then reassigns the title back to himself, now having his car registered with the new mileage.

Odometer Clockers – A dealer does minor labor to the car, replacing or changing the noticeable dings and dongs. Replaced can be floor mats, gas and brake pedals, also tires. The finish is then waxed and washed. A clocker turns back the odometer with common tools such as picks, wires, screw drivers, electronic and digital tools. Cars odometers can be rolled back in masses, because a good clocker can do this job in a matter of minutes. The vehicle will then be sold over the internet, at the dealers lot or at the auction houses to get a higher value.