Unscrupulous sellers roll back the odometers of nearly 200,000 vehicles each year, new research from car history report specialist Carfax suggests.
Drawing on the 12 billion records in its databases, CarFax found that 190,000 cars are hit with odometer fraud on an annual basis, costing consumers an estimated $760 million each year in lost value and unexpected repairs.
The majority of impacted have at least 50,000 miles taken off their odometer, Carfax researchers concluded.
“Odometer fraud is a calamity for car buyers,” Larry Gamache, communications director at Carfax, said in a statement “There are serious problems that can arise from a rollback. Older, deteriorating parts lead to unexpected repairs while unperformed maintenance for the true mileage may compromise the safety and performance of these cars. Not to mention, each victim loses thousands of dollars because they pay much more than these cars are really worth.”
Notably, although some consumers believe digital odometers make tampering more difficult, Carfax warns that odometer correction tools available on the internet let con men quickly and easily make miles disappear.
What can used car shoppers do to protect themselves from rollback? Along with promoting its own history report service, Carfax recommends that buyers check that the vehicle’s condition is consistent with the odometer reading; ask the seller for service records that document the mileage; and get an inspection from an independent mechanic.
Photo by Nat Shirley.
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