Obviously the gain in rolling back the odometer is to sell the vehicle for more than it’s actually worth.
Atlanta, GA (PRWEB) April 29, 2013
The NHTSA reports that, every year, thousands of car buyers fall victims to odometer tampering which is the illegal practice of rolling back a vehicle's odometer (mileage) to make it appear that the vehicle has a lower mileage than it actually does costing consumers millions of dollars in losses.
Regardless if it’s an analog or a digital odometer cluster, scammers can alter the reading to show a lower mileage. Obviously the gain in rolling back the odometer is to sell the vehicle for more than it’s actually worth.
One of the first signs of odometer rollback was the mechanical condition of the vehicle; second was paperwork found in the car showing a much higher mileage on earlier dates.
In a recent appraisal Antoine Rached performed, the loss in value a vehicle suffered due to the unscrupulous behavior of a used car dealer was $1,500.
Even-though vehicle history reports are not the most accurate sources for car accidents, when it comes to odometer rollback they are quite useful; after ordering an autocheck history report Antoine Rached found that the vehicle he just appraised had the mileage reduced by 64,419 miles.
First thing a car buyer needs to do when you suspect odometer tampering is to call the dealer and demand a refund. If they wish to still keep the vehicle, they can order an appraisal report from a licensed auto appraisal company like Diminished Value of Georgia and send the result to the dealer or individual that sold the vehicle with a demand letter requesting full reimbursement of the difference in value.
Dealers and individuals alike should have the urgency to comply with loss in value demands as failure to do so might force buyers to seek legal action against them and/or reporting them to the NTHSA for punishment under 49 USC Chapter 327.
Georgia residents can order an odometer rollback appraisal from Diminished Value of Georgia by calling 678-404-0455. Clients Nationwide can obtain this appraisal from the Diminished Value Bureau by calling 1-877-667-2326.