Some of the comments suggest that odometer readings are not important, and that one should rely more on the condition of the vehicle. While condition matters, the odometer reading must be accurately represented, both on the vehicle odometer and on the title when transferring the vehicle, or include a statement that the true mileage is unknown due to a stated reason. Altering the mileage reading on a motor vehicle is a felony under federal law and most state laws. Altering the mileage reading on the title, which is a security instrument under law, is securities fraud. If a fraudulent title has passed through the mail, it's mail fraud. Odometer fraud has been characterized as perhaps the largest consumer fraud in America, so it follows that odometer readings are, in fact, important. |
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