Odometer Disclosure Statement

When buying or selling a vehicle, an odometer disclosure statement is an essential document that provides critical information about the mileage of the vehicle. At BizzLibrary.com, we understand the importance of having a reliable odometer disclosure statement to protect your interests. Our professionally drafted template is designed to help you comply with state laws and accurately record the vehicle's mileage.

What is an Odometer Disclosure Statement?

An odometer disclosure statement is a legal document that must be completed and signed by the seller of a vehicle that is more than ten model years old. The statement provides important information about the vehicle's mileage history and serves as proof of the odometer reading at the time of sale.

Why is an Odometer Disclosure Statement Important?

An odometer disclosure statement is important for several reasons:

• Legal Compliance: Federal and state laws require sellers to provide accurate mileage information to protect buyers from fraud or misrepresentations regarding the vehicle's condition and value.
• Detecting Mileage Tampering: The disclosure statement helps to prevent odometer fraud, which is when the mileage has been altered to increase the value of the vehicle. This is a serious crime and can lead to substantial fines and penalties.
• Establishing Resale Value: The statement provides accurate mileage information that can help establish the vehicle's resale value, making it easier to negotiate a fair price.

What is Included in an Odometer Disclosure Statement?

An odometer disclosure statement typically includes the following information:

• Vehicle Information including make, model, year, and VIN (Vehicle Identification Number)
• Name and address of the seller
• Date of sale
• Odometer reading at the time of sale
• Signature of the seller

Download Your Odometer Disclosure Statement Template

At BizzLibrary.com, we understand the importance of having a comprehensive odometer disclosure statement in place when buying or selling a vehicle. Our template is designed to help you comply with state laws while ensuring accurate recording of the vehicle's mileage.

Visit our website to access our professionally drafted template in DOCX format and ensure compliance with state laws and accurate recording of the vehicle's mileage. Download it today and secure your vehicle sale or purchase!