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.

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.

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Odometer Statement

New Mexico Odometer Statement

Name: New Mexico 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.

How to fill out New Mexico Odometer Statement?

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FAQ

For most private vehicle sales in New Mexico, a bill of sale is not required. However, if the purchase price or odometer statement are missing from the title, then a bill of sale (form MVD-10009) is required.

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.

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.

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.

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.

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.

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.

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.

More info

How to Write · Odometer Reading (no tenths, in miles) · Select one of the following options: The Actual Mileage (AM); Mileage in Excess of Mechanical Limits (EL) ... Odometer Disclosure Statement ? If the odometer reading of the vehicle being sold is not included on a bill of sale or certificate of title, this disclosure ...The giftee must then take the current title with the Assignment of Title filled out, as well as an Odometer Disclosure Statement to the MVD and ... The next item is ?ODOMETER DISCLOSURE STATEMENT?. Enter your mileage on the line provided EXACTLY AS IT APPEARS ON YOUR ODOMETER. DO NOT INCLUDE ?TENTHS?. If ... The odometer information should be completely filled out, as well as the purchase date and selling price fields. Using the odometer statement, the seller and ... You will have to get an odometer disclosure form from the seller, and you will have to have the vehicle inspected for emissions. Bring all your paperwork and ... Complete the Assignment of Title section on the vehicle's title certificate. · Sign the vehicle title. · Complete an odometer disclosure. The seller may use:. In New Mexico, there are several types of vehicles that require a Certificate ofProof of liability insurance; The vehicle's current odometer reading ... 10 - Complete the enclosed form (homemade vehicle/trailer, etc.). 12 - An odometer statement must be completed by the prior owner. The immediate impact of this change is to 2011 model vehicles transferring ownership on or after January 1, 2021. The odometer changes are the ...

New Mexico Odometer Statement

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