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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 happens if there is an odometer discrepancy?
Odometer Fraud Laws If the odometer mileage is incorrect, the law requires a statement to that effect to be furnished on the title to the buyer. However, a vehicle is exempt from the written disclosure requirements if its 20 years old or older, or a model year 2010 vehicle or older.
Who is exempt from the odometer in Georgia?
The following vehicles are exempt from the odometer disclosure requirements of the Federal Truth in Mileage Act: Vehicles with a gross vehicle weight rating of more than 16,000 pounds. Vehicles that are not self-propelled (i.e., trailers) Vehicles that are 20 model years old or older.
What is an example of an odometer disclosure statement?
1. I hereby certify that, to the best of my knowledge, the above-listed odometer reading reflects the actual mileage of the vehicle described below. 2. I hereby certify that, to the best of my knowledge, the above-listed odometer reading reflects the amount of mileage in excess of its mechanical limits.
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