Varieties of Odometer Fraud
As the price of new vehicles increases, there is more and more interest in used cars and subsequently odometer tampering has become a very lucrative fraud. Here are the varieties of odometer fraud.
- False or Altered Titles – A clear title is much more valuable than a wrecked or damaged car title. This car scam occurs when a dealer purchases a high mileage vehicle and subsequently resells it with falsified, reduced odometer reading. This is accomplished simply by tampering the high-mileage figure noted or by obtaining a new automobile title with a false mileage figure before reselling the vehicle. A professional calligrapher can perform excellent quality title alterations, which are often invisible to the naked eye.
- Reassigned Titles – In most countries licensed automobile dealers are allowed to transfer vehicle titles without re-registering them. How? A car dealer’s reassignment of the title can be attached to the original title. Numerous title reassignments can accompany an original title, as well as the washed title. A car dealer may also discard the prior reassignments of title, making it difficult to trace ownership of the vehicle.
- Title Laundering – This car scam occurs when a wrecked car’s title is replaced by papers bought in another country. A car dealer discards the previous title, then registers his/her vehicle in another state with the altered odometer (odometer fraud) and assigns the title to a company, then reassigns it back to himself/herself, now having his/her car registered with the new mileage.
- Odometer Clockers – A dealer does minor labor to the car, replacing or changing the noticeable dings and dongs. Mats, gas, floor, brake pedals, tires can be replaced. A clocker turns back the odometer with common tools such as picks, wires, screwdrivers, 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.