Did you know that tampering with an odometer is against the law? According to the NHTSA, you cannot disconnect, alter, or reset an odometer to change the mileage shown on display. However, scammers are everywhere. One of their techniques is to "roll back" the mileage of the automobile to make it more appealing to buyers and earn a higher price.
Here's a brief overview of the Colorado Odometer Disclosure Statement.
Colorado Odometer Disclosure Statement
An Odometer Disclosure Statement is a legally binding document. It provides an actual mileage on the odometer at the time the automobile is sold to the buyer. In addition, if the mileage is known to be inaccurate, it must be noted on the statement.
What are the exceptions to the Colorado Odometer Disclosure Statement?
1 - Vehicles that are ten years or older do not need an odometer disclosure statement.
2 - Vehicles that are over 10,000 pounds empty weight.
What are the consequences for falsifying Colorado Odometer Disclosure Statement?
When transferring ownership, federal law requires you to provide the actual mileage. In addition, according to Colorado law, it is unlawful to withhold information or to provide false information deliberately. As a result, failing to complete the form or making a false statement may result in fines or imprisonment.
To Conclude
Suppose you have been a victim of odometer fraud or need assistance with Odometer Disclosure Statement Colorado. In that case, the attorneys at Allen Stewart can help you with the process.
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