Odometer disclosure, explained
Federal law requires sellers to provide a signed, accurate odometer reading on every vehicle title transfer to prevent fraud.
What it means
Odometer disclosure is a federally mandated statement that documents a vehicle's mileage at the time of sale. The seller must complete an odometer disclosure on the title or a separate form, certifying the mileage is accurate to the best of their knowledge. Rolling back or misrepresenting odometer readings is a federal crime under the Truth in Mileage Act, with penalties up to $10,000 per violation. The rule applies to almost every vehicle under 20 years old, whether you're buying from a dealer or a private party.
Why it matters
Mileage directly affects value, and odometer fraud still happens. A car with 150,000 miles rolled back to 75,000 can cost you thousands in overpayment and unexpected repairs. Always verify the odometer reading against the title, service records, and vehicle history report before you buy. If the numbers don't match or the disclosure box is blank, walk away. When you sell, accurate disclosure protects you from fraud claims and legal trouble later.
What to do
Before you buy or sell, compare the current odometer reading to maintenance records, inspection stickers, and a Carfax or AutoCheck report. If you're evaluating whether to sell your higher-mileage car now or later, check how quickly it's depreciating with our sell or keep tool.
Rate lock, explained
A rate lock guarantees your approved interest rate for a set period, protecting you from rate increases while you shop.
Mileage allowance, explained
Your lease mileage allowance caps how many miles you can drive before paying steep per-mile penalties at turn-in.
Comprehensive vs collision insurance, explained
Comprehensive covers non-crash damage like theft or weather; collision covers damage from accidents you cause or hit objects.