Complete Your Vehicle Transaction with our Odometer Disclosure Statement

Whether you're buying or selling a used car, an odometer disclosure statement is a crucial document required by the state to record the vehicle's mileage accurately. An odometer disclosure statement is a legal document that highlights the vehicle's odometer reading at the time of sale - providing a record of the car's true mileage. At BizzLibrary.com, we understand the importance of having a comprehensive odometer disclosure statement that meets your needs. Our template is expertly drafted and can be easily downloaded in DOCX format.

What is the Odometer Disclosure Statement?

The odometer disclosure statement is a legal document that certifies and confirms the accuracy of a vehicle's mileage reading at the time of sale. This document is mandatory in all fifty states, and its primary purpose is to prevent odometer fraud, where the seller has tampered with the odometer to show a lower mileage reading. By disclosing any discrepancies in the mileage, the seller assumes responsibility for the vehicle's accuracy.

Why Do You Need an Odometer Disclosure Statement?

An odometer disclosure statement is a critical document that protects both buyers and sellers. Here are some reasons why:

1. State Requirements: An odometer disclosure statement is a mandatory requirement in most states and a legal requirement in all fifty states. Without this document, the sale of a used vehicle may not be legal.
2. Vehicle Mileage: An odometer disclosure statement provides an accurate record of the vehicle's mileage at the time of sale. Buyers can use this information to make more informed decisions about the vehicle's condition and value.
3. Legal Protection: An accurate disclosure protects both sellers and buyers against potential legal claims related to misrepresentations of the vehicle's mileage. It serves as proof that the seller has acted in good faith and disclosed any known discrepancies in the vehicle's mileage.
4. Proof of Sale: The odometer disclosure statement serves as a legal document that verifies the transaction's details, such as the date of sale, buyer and seller information, and sale price.

Get Your Odometer Disclosure Statement Template

Download our professionally drafted odometer disclosure statement template today and ensure that both you and the buyer are protected under state law. Our template comes in DOCX format, and you can easily customize it to fit your specific needs. With BizzLibrary.com, you can access a wide range of business document templates, including legal contracts, financial agreements, and more. Visit our website today and take control of your business