Up More Than 18% Since 2021, Costing
Unsuspecting Buyers Thousands of Dollars
CENTREVILLE, Va., Dec. 10,
2024 /PRNewswire/ -- Odometer fraud
remains a widespread and serious issue for used car buyers across
the country, CARFAX data shows. More than 2.14 million cars on the
road may have had their odometer rolled back this year, up more
than 18% since 2021, and up more than 82,000 vehicles from just
last year.
"Odometer rollbacks can occur when an unscrupulous owner or
seller of a car alters the miles that display on a car's gauge
cluster," said Faisal Hasan, Vice
President of Data and Public Policy at CARFAX. "This might be done
as a way to avoid mileage charges in a vehicle lease or to
dramatically increase the value of a car. Today's technology makes
rolling an odometer back easier than ever." It can take a bad actor
just seconds to roll back an odometer, causing unsuspecting buyers
to lose an average of $4,000 in
value, CARFAX found, not to mention the additional costs of
unexpected repairs and potential safety risks.
"I located a beautiful Chevy 4x4 Truck that sounded perfect: Low
miles, great condition, etc. When I ran the CARFAX on the
vehicle, I discovered the truck had approximately 180,000 miles
rather than the 108,000 stated," said Jimmy
Hendon, a driver in Atlanta. "The mileage was so far off from the
accurate mileage that it was crazy. CARFAX saved me thousands of
dollars and no telling how many headaches."
Nine of the Top 10 states with the most vehicles with rolled
back odometers saw an increase this year. Virginia saw the biggest spike last year, at
nearly 11.7%, followed by Arizona,
up 8.0%, and Florida, up 6.4%.
How to protect from odometer fraud:
- Check for potential odometer fraud at
www.carfax.com/odo.
- Obtain the CARFAX report for the vehicle's history and
check the title, maintenance, and inspection records to compare the
mileage on the vehicle.
- Check out the wear and tear at the gas, brake, or clutch
pedals.
- Always have a trusted mechanic inspect the car before a
purchase. They should be able to tell if a vehicle looks older than
its odometer suggests.
Editor's note: We have a media tour on Dec. 10, 2024. A CARFAX expert and a mechanic
will be standing by to show how easy it is to roll back a vehicle's
odometer in real-time. Localized data available upon request.
Please contact Em Nguyen at emnguyen@carfax.com.
About CARFAX
CARFAX, part of S&P Global Mobility, helps millions of
people every day confidently shop, buy, service and sell used cars
with innovative solutions powered by CARFAX® vehicle history
information. The expert in vehicle history since 1984, CARFAX
provides CARFAX Used Car Listings, CARFAX Car
Care, CARFAX History-Based Value and the flagship CARFAX
Vehicle History Report to consumers and the automotive
industry. CARFAX owns the world's largest vehicle history database
and is nationally recognized as a top workplace by The
Washington Post. Shop, Buy, Service, Sell – Show me the
CARFAX®.
S&P Global Mobility is a division of S&P Global (NYSE:
SPGI). S&P Global is the world's foremost provider of credit
ratings, benchmarks, analytics and workflow solutions in the global
capital, commodity and automotive markets.
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SOURCE CARFAX