Maybe you've finally paid off your loan, or maybe you're just ready to pass your precious car along for someone else to enjoy. Whatever the situation, it's time for a new shiny toy to drive around!
Before you transfer the vehicle title and pop into your new ride, there are a few details to remember so that the process moves seamlessly for both sides of the buyer/seller equation.
Completing an Odometer Disclosure Statement
First, find out if your state requires an odometer disclosure statement. Our Odometer Disclosure Statement page will provide access to the exact form your state requires.
Then, make sure you understand the purpose of an odometer disclosure statement. These statements:
- Certify the exact odometer reading at the time of sale.
- Helps prove if the mileage is increasing over time and if the mileage exceeds its mechanical limits.
- Help prevent mileage tampering and preserve the actual retail value of the vehicle when it’s sold.
Both parties must sign the document, and in most cases the buyer must provide a copy of the disclosure statement to the state motor vehicle agency when applying for the title of your car.
NOTE: Some states don't require odometer disclosure statements for vehicles 10 years old or older or vehicles that weigh fewer than 16,000 pounds.
Sample Odometer Disclosure Statement
Depending on your state, you can:
- Use the state-provided odometer disclosure statement.
- Enter the mileage on the Certificate of Title (in the section designated for the odometer reading).
- Create your own odometer disclosure statement.
Feel free to use the sample below.
TO BE COMPLETED BY THE SELLER
I/We _____________________________________ state that the odometer mileage indicated for the vehicle described below is:
______________________ (check one) ___ Miles ___ Kilometers ___ Hours
and I hereby certify to the best of my knowledge that (check one statement below that is applicable)
____ (1) The odometer reading is the actual mileage.
____ (2) The odometer reading reflects the amount of mileage in excess of its mechanical limits.
____ (3) The odometer reading is not actual mileage. WARNING - ODOMETER DISCREPANCY.
- Body Type:
- Vehicle Identification Number:
- Printed Name of Seller:
- Address of Seller:
- Seller's Signature:
- Seller's Certification Date:
TO BE COMPLETED BY THE BUYER
- Printed Name of Buyer:
- Address of Buyer:
- Buyer's Signature:
- Date Completed Form Received:
After both parties sign the disclosure, make sure to hold onto a photocopy of the document for future reference. Once everything has been reported to the state vehicle agency, the odometer mileage reading will be on the new Certificate of Title and on the vehicle record.
Remember, presenting the correct odometer reading when transferring ownership is not only vital to the vehicle-selling process, but also protects both parties from any future misunderstandings.