Odometer Fraud: Civil Remedies for Victims
Federal Odometer Laws and Regulations
Title 49 U.S.C., Chapter 327 (Formerly Title 15, Sections 1981-1990)
49 C.F.R., Sections 580.1-580.16 - Odometer Requirements
Resetting or altering odometer with intent to change mileage.
Making false odometer disclosure statement.
Failure to provide buyer complete odometer disclosure statement.
If acquiring vehicle for resale, failure to obtain complete odometer disclosure statement from seller.
Conspiring to violate any of the Federal odometer statutes.
Civil Recovery -
treble damages, whichever is greater, plus reasonable attorney's fees.
Assessment of Actual Damages - Combination of:
Value of vehicle with fraudulent mileage minus value of vehicle with actual mileage. (Several industry mileage deduction guides are available.)
Lessened resale value of vehicle with altered odometer.
Increased finance charges on fraudulently inflated value.
Increased insurance costs on fraudulently inflated value.
Increased taxes on fraudulently inflated value.
Cost of unanticipated repairs and maintenance.
Time spent resolving problems created by fraud.
State Odometer Laws
Laws vary widely from state to state; however, odometer fraud is covered in most states.
State laws may provide access to dealer bonds or other coverage.
Some state laws provide for recovery of damages under state law in addition to damages recovered under Federal law.