According to NHTSA, over 450,000 vehicles are sold annually in the United States with fraudulent odometer readings, resulting in losses exceeding $1 billion for American car buyers each year. Mileage fraud, also known as odometer tampering, is a serious crime that can cost car buyers thousands of dollars. In this blog post, we'll discuss what mileage fraud is, how to spot the signs, and how to protect yourself when buying a used car.
What is Mileage Fraud?
Mileage fraud is the act of tampering with a vehicle's odometer to make it appear to have fewer miles than it actually does. This can be done in a number of ways, such as using a rollback tool to physically rewind the odometer, or by replacing the odometer with one that has a lower mileage reading.
How to Spot the Signs of Mileage Fraud
There are a number of signs that can indicate that a car's mileage has been tampered with. Here are a few things to look for:
- Inconsistent wear and tear: If the car's interior or exterior shows signs of wear and tear that is inconsistent with the mileage on the odometer, it could be a sign of fraud. For example, if the car has a lot of scratches and dents, but the odometer only reads 50,000 miles, it's likely that the mileage has been tampered with.
- Mismatched service records: If the car's service records show mileage readings that are significantly different from the odometer reading, it could be a sign of fraud.
- Discoloration or scratches around the odometer: If the odometer appears to have been tampered with, there may be signs of discoloration or scratches around the odometer itself.
How to Protect Yourself from Mileage Fraud
There are a number of things you can do to protect yourself from mileage fraud when buying a used car. Here are a few tips:
- Get a vehicle history report: A vehicle history report will contain information about the car's ownership history, accidents, and repairs. This can be a valuable tool for spotting potential problems, including mileage fraud.
- Have the car inspected by a mechanic: Before you buy a used car, it's important to have it inspected by a mechanic. The mechanic can check for signs of mileage fraud, as well as other potential problems.
- Be wary of deals that seem too good to be true: If the price of a used car seems too good to be true, it probably is. Be suspicious of cars that are priced significantly lower than similar cars with the same mileage.
By following these tips, you can help protect yourself from mileage fraud and ensure that you're getting a good deal on your next used car.
If you have any questions, call or contact Seaway Insurance Associates today.