If you're in the market for a used car, take note. Odometer fraud is on the rise, according to CARFAX. Researchers say odometer rollbacks remain a widespread and serious issue for used car buyers across the country. According to CARFAX data, more than 2.14 million cars on the road may have had their odometer rolled back in 2024, up more than 18% since 2021, and up more than 82,000 vehicles from 2023.
“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.
CARFAX shares this example:
“I located a beautiful Chevy 4×4 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%.
The National Highway Traffic Safety Administration (NHTSA) says odometer fraud costs American car buyers $1 billion annually. For ways to protect against odometer fraud visit the NHTSA website.
Photo credit: Pradit.Ph/Shutterstock.com.