An Odometer Disclosure Statement is a legal document attached to a Vehicle Bill of Sale at the time of sale to declare the vehicle mileage shown on its odometer.
The reading of the odometer is disclosed at the back of the Certificate of Title, and when you sell your car, a separate document with the actual mileage is needed. In several states, the Odometer Disclosure is accompanied by Damage Disclosure – you must inform the buyer of any accidents and repairs of the vehicle in the past.
You must fill out an Odometer Statement when selling a car – it is a legal requirement in all states. Some of them have issued their own disclosures that are submitted to the local Department of Motor Vehicles to receive registration and title, and when there is no government-approved template, a generic Odometer Disclosure Statement serves just fine, provided that you include every detail needed for the transfer of ownership.
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Follow these steps to fill out an Odometer Disclosure Form:
When the papers are filled out, attach the statement to the Bill of Sale. The buyer has the original disclosure, while the seller retains its copy. Most states require the purchaser to have a Vehicle Bill of Sale, original Certificate of Title, and an Odometer Disclosure Form to obtain a new title and registration.
If you are a car dealer, you must keep your vehicle records and Odometer Disclosure Statements for a minimum of five years in case different agencies in charge of transportation would like to inspect them.
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