Odometer rollback may inflate the resale value of a high-mileage vehicle and increase repair costs down the road. Anyone buying a car checks the odometer since a vehicle’s mileage affects its value. The higher the mileage is the less you pay and vice versa. This makes tampering with the odometer rather tempting car dealers. Rolling back the odometer puts a little extra money in their pockets. Think about how much money a car dealership could make doing this. Several dishonest car dealers have been caught red handed engaging in odometer rollback scams. The dealer makes extra money and you are stuck with a vehicle that’s not as good as you thought it was.
Falsifying odometer readings can be very costly to you. The first is obvious; you will pay more than you should have for the vehicle. Another is that the maintenance will cost you more than you expected. Older cars with high mileage require frequent servicing. This is where an odometer fraud will hit you right in the pocketbook. Car repair costs add up quickly. That’s one reason dealers roll back odometers. Sometimes it’s the only way they can sell high mileage vehicles.
Odometer tampering is forbidden by state and Federal laws. In addition, law requires dealers and individuals selling cars to provide purchasers with accurate odometer information. For instance, car buyers have a right to know the full amount of miles on the odometer and must be told if that mileage reading is accurate to the best of the sellers’ knowledge. Tampering with the odometer to make it appear that a car has been driven fewer miles than it actually has is illegal. It’s also illegal to disconnect your odometer with the intention of deceiving. Disconnecting an odometer for maintaining car value is in violation of the law.
Well I’ve learned something today
Very interesting info !Perfect just what I was searching for!
I bought a car at a dealer who’s been open for
17yrs. After I bought the car, it’s been giving me problems. I checkes the carfax after all the proplems, and theres a maintenance checkpoint
where the car had more mileage than what was on the odometer and buying agreement when I bought the car. I’m 5 months into the payments. Is there anyway I can void the finance or have the Florida dealer buy the car back from me?
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