The 1986 Federal Truth in Mileage Act created a database to record the mileage of every vehicle sold in the United States. The law also requires every sold vehicle under ten years of age and under 16,000 pounds to have an Odometer Disclosure Statement attached to the vehicle bill of sale.
As a result, 50 states require this document to finalize vehicle sales and as a condition for new registration applications. Some states accept general federal forms, and others have their state-specific odometer disclosure forms.
In short, the Odometer Disclosure Statement declares a vehicle's mileage as shown on the odometer. You can also use it to specify that the seller cannot attest to the odometer reading accuracy. Commercial vehicles with weight limits do not require an Odometer Disclosure Statement.
The odometer reading is an essential consideration when purchasing a vehicle. The Odometer Disclosure Statement also shows if the car is equipped with an odometer of five or six digits and if the mechanical limit has been rolled over. The Odometer Disclosure Statement may include a damage disclosure.
Depending on your state, an Odometer Disclosure Statement may also be known as:
Whether you're a buyer or seller of a vehicle under ten years of age, the law requires you to fill out and sign an Odometer Disclosure Statement.
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The Odometer Disclosure Statement includes dedicated spaces for the vehicle description, buyer and seller details, and the odometer reading.
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Before signing the Odometer Disclosure Statement, it is recommended for the buyer to review and verify the accuracy. By signing the statement, the seller assures they have disclosed accurate information to the best of their knowledge, even if that means they don't know the precise odometer reading.
After you have created your Odometer Disclosure Statement, download it and print out a copy for the buyer and seller to sign. After that, it becomes a part of the vehicle's paperwork. The odometer reading becomes an official part of the vehicle's history relevant to all future sales transactions.
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