Because of the demand and high prices commanded lately for used cars, car buyers need to be aware of the most important used car scam out there and what they can do to avoid becoming a victim of one the oldest used car dodges since approximately 1903.
Odometer Rollbacks: A Hard-to-Spot Nuisance for Car Shoppers
Nearly half a million vehicles with illegally altered mileage are sold each year, according to federal estimates.
A $120 odometer rollback tool was tested on a 2014 Chevrolet Equinox. It could read the car’s mileage but was not able to change it.Credit.Paul Stenquist
By Paul Stenquist
May 20, 2021
Of the approximately 40 million used cars sold each year, over 450,000 have odometers that were illegally altered, according to federal estimates.
That’s despite decades of efforts to curtail tampering, according to the National Highway Traffic Safety Administration. “Odometer fraud is a serious crime that costs Americans more than $1 billion annually,” an agency spokesman said.
BELEN—The city of Belen received an unmodified audit from Cordova CPAs LLC, meaning the municipality got a clean opinion on its annual audit report for fiscal year 2020.