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Commonly Asked Questions about Odometer Disclosure Statement Forms

What is an odometer disclosure statement in IL?

The Odometer Disclosure Statement is a legal document designed to record and declare the accurate mileage of a vehicle during a change of ownership. This form is particularly crucial for vehicles that are less than 10 years old and is mandated by federal law in the United States.

Definition What is an odometer disclosure statement?

An odometer disclosure statement is a federally required form used to verify a leased vehicles mileage at the end of the term. This is typically needed when you return, purchase, or trade a leased vehicle. What is a lease odometer statement and where can I get one? - U.S. Bank usbank.com knowledge-base usbank.com knowledge-base

How to write an odometer reading?

If your vehicle is equipped with an odometer capable of reading 999,999 miles, you need only write in the odometer disclosure the actual mileage shown on the odometer. (NOTE: Do not write in tenths of miles.) (Example: If your odometer reads 118, 666.6 miles, you would disclose 118,666 miles on the title.)

How do you fill out an odometer disclosure statement in NC?

This written disclosure must be signed by the transferor, including the printed name, and shall contain the following information: (1) The odometer reading at the time of the transfer (not to include tenths of miles); (2) The date of the transfer; (3) The transferors name and current address; (3a) The transferees

Do I need an odometer disclosure statement in Massachusetts?

Federal law requires you to share the odometer mileage in conjunction with the transfer of ownership. Failure to complete or provide a false statement may result in fines and/or imprisonment.

Who fills out an odometer statement?

The transferee, when applying for a title, is required to provide the transferors (sellers) title, and if that title contains a space for the ( print page 52667) transferor to disclose the vehicles mileage, that information must be included, and the statement must be signed and dated by the transferor.

How do you write an odometer disclosure statement?

The odometer disclosure should contain: The complete vehicle description (make, year model, body type, and vehicle identification number). The date of sale. Reference to federal and state law with the following or similar wording:

Required when When is an odometer disclosure statement required?

Due to a federal rule change by NHTSA late last year, beginning January 1, 2021 odometer disclosures will be required for every sale or transfer for the first 20 years of a vehicles life, as opposed to the first 10 years as it is today. This change will only apply to Model Year 2011 and newer vehicles. NEW FEDERAL ODOMETER DISCLOSURE RULES sunflowerautoauction.com docs odomete sunflowerautoauction.com docs odomete

What is an example of an odometer disclosure statement?

I hereby docHub that to the best of my knowledge the odometer reading reflects the amount of mileage in excess of its mechanical limits. 2. I hereby docHub that the odometer reading is NOT the actual mileage and should not be relied upon. WARNING - ODOMETER DISCREPANCY.