What is a generic odometer disclosure statement?

An odometer disclosure statement is simply a declaration of a vehicle's mileage as indicated by its odometer, and if whether or not it's an accurate reading. If you've ever sold a car you've actually completed a generic odometer disclosure statement.

What is a mileage statement?

An odometer disclosure statement declares the mileage on your vehicle. They are required when buying a new car or selling a used one. You'll typically need to fill out an odometer disclosure statement to declare mileage on any vehicle that's less than 10 years old.

How do you write an odometer?

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.)

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Odometer Statement

Michigan Odometer Statement

Name: Michigan Odometer Statement
Brand: US Legal Forms
Rating: 4.73 (378 reviews)

Category:

Bills of Sale - Automobiles

State:

Multi-State

Control #:

US-ODM-1

Format:

Instant download

Description

This form is a notarized statement prepared by the seller that contains the actual mileage of a vehicle. Federal Law requires the seller of a vehicle to provide mileage upon transfer of ownership.

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FAQ

An Odometer Disclosure Statement is a legally binding document that provides an accurate mileage on the odometer at the time the car changes hands from the seller to the purchaser. And if the mileage is known to be incorrect, it must be indicated on the statement.

A person convicted of odometer tampering would be guilty of a felony punishable by one or more of the following: imprisonment for not more than ten years, and/or a $2,000 fine for each violation or, if the violation occurred not more than three years after the vehicle's model year, a fine of $4,000 for each violation.

A odometer discrepancy describes a situation in which the vehicle's reported mileage does not match the vehicle's actual mileage. It is a brand or status that can be placed on a vehicle's title by the state DMV and it is also a check that may show up in a third-party vehicle history report.

An odometer disclosure statement is simply a declaration of a vehicle's mileage as indicated by its odometer, and if whether or not it's an accurate reading. If you've ever sold a car you've actually completed a generic odometer disclosure statement.

PURPOSE: Federal and state law require both seller (transferor) and buyer (transferee) to accurately state the mileage of any used motor vehicle, with a manufacture year of 2011 or newer, in connection with the transfer of ownership whether sale, trade-in or exchange.

An odometer disclosure statement declares the mileage on your vehicle. They are required when buying a new car or selling a used one. You'll typically need to fill out an odometer disclosure statement to declare mileage on any vehicle that's less than 10 years old.

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.)

Let's say, for example, you purchase a car from someone that states the speedometer stopped working when the odometer read 80,000 miles. He or she then replaced the broken speedometer with a new speedometer that had an odometer reading of 40,000 miles. This would be an odometer discrepancy.

Total mileage limit of the car Sometimes the mileage discrepancy is caused because of the number of digits that can be displayed as the indication for the distance traveled. For instance, most of the cars have five-digit (99,999) or six-digit (999,999) odometers.

It's because they need to calculate whether you are at high risk of accident or not. Simple logic operates here the more you drive, the higher the chance of accidents. That's why they care so much about your annual mileage.

More info

Federal law and section 233a of the Michigan Vehicle Code require that you state the mileage in connection with the transfer of ownership. Failure to complete ... If you need to transfer a vehicle title in Michigan,seller is also responsible for providing the odometer disclosure statement.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 ... Michigan Law requires disclosure of the actual odometer reading at the time of transfer or assignment of the vehicle's title. Also the seller must indicate if ... Automotive-Related Businesses; Licensed Dealer. This government document is issued by Secretary of State for use in Michigan ... This law applies to a vehicle of any age, no matter who is selling it. This law also requires the seller to write the mileage indicated on the odometer on the ... You can locate the form for your state here. A fully completed form includes the buyer's and seller's personal information, the date of ... About odometer fraud and what to watch for when purchasing a vehicle. Fill. Michigan Odometer Statement, Edit online. The signatures of the buyer and the. In some cases, you can simply fill in the odometer reading section on the certificate of title orMichigan: Form BDVR-108 - Odometer Mileage Statement Fill in the vehicle odometer mileage statement on the title. This is required under federal law. Complete the brand disclosure area on the title (if applicable) ...

Michigan Odometer Statement

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