Question:
I am not trying to deceive anyone, I am just trying to sell my 1997 Ford Mustang; but the odometer is stuck at 126,444 miles. It cannot be repaired and if I buy a used one, the mileage won't be exact and I was quoted $300 for a new one, which I really don't want to spend if I don't have to. Are there any legal issues with selling the car with a broken odometer, if I disclose when it broke and what the mileage estimate is? Is there some sort of internal mileage counter, that can be checked, so I can find out the true mileage and disclose that?
Answers:
Im paying high interset on my car loan.is there anyway i could decrease it?
Odometer disclosure is federally regulated. For vehicle buying and selling, a vehicle that is ten years old or younger, an odometer disclosure form is required to be completed. Since the odometer became disabled prior to the ten year mark, you would need to mark the form, showing the mileage as not actual. This could be a problem when you want to sell the car, some buyers want to know that the miles are actual.Is 7% off the sticker price a good deal or can I do better?
No worries, as long as you honestly disclose. Broken odometers happen.What kind of car will last the longest?
The official DMV documents have a box you check to indicate that the odometer reading is inaccurate.
Some states require that you disclose the mileage to the best of your knowledge. I'd keep a best guess of the mileage each week and disclose to the best of your knowledge; and sell it as is/ odometer broken and exact mileage unknown.
Great websites for car auctions.?
On the title, there is a box you can check that states that the mileage shown is not correct and it is unknown. The box is close to the place where you have to fill in the reading on the odometer. That will relieve you of any responsibility regarding the broken odometer.What are the legal issues with selling a car with a broken odometer (mileage ticker)?
sell it as is on bill of sale.What would you choose? as a new car?
In Ohio you have to declare on an Odometer statement and on the title that the mechanical odometer is disabled when selling the vehicle.Whats the best make and model should i get as a first car?
Depends on the state. In Missouri you have to sign a statement if the odometer has been replaced and you have to give an estimate of the real miles.Why do car dealers give you so much less for a trade and then turn it around to make so much more?
You can sell it as TRUE MILES UNKNOWNMore Questions & Answers ...
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