Odometer fraud on the rise

(InvestigateTV) — Data from Carfax found roughly 2.1 million vehicles on the road have had their odometer rolled back, up 14% from 2021.

Rolling back an odometer hides the real age of a vehicle, falsely increasing its value.

Carfax estimates that consumers lose an average of $4,000 in value from unknowingly buying a rolled-back car, and that doesn’t include any unexpected maintenance costs.

In its study, Carfax compared two 2018 F-150s, one with 50,000 miles and one with 150,000 miles. The difference in value was $10,300.

CarFax had several tips to help buyers avoid this kind of fraud:

• Examine the vehicle in person and ask the seller questions about the vehicle’s condition.
• If the deal seems too good to be true, it probably is – walk away.
• If the seller is pressing for a sale, that’s a warning sign.
• Take the car to a trusted mechanic to verify the condition.
• Ask the seller to share the vehicle history report.

Buyers can also find out if odometer fraud has been reported by using the free odometer check tool on Carfax’s website. Just enter the car’s 17-digit identification number and zip code to receive an alert if odometer fraud is suspected.

Consumers can report suspected odometer fraud to their state attorney general, or large scale fraud to the National Highway Traffic Safety Administration (NHTSA).