‘Taking advantage of unsuspecting consumers’, expert warns, as drivers lose $1 billion buying used cars – and it’s a huge safety risk

DRIVERS have been warned to beware of odometer fraud after almost half a million cars were sold last year with false readings.

These scams are estimated to cost Americans at least $1 billion annually.

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The situation has gotten so bad in Florida that Attorney General Ashley Moody issued a consumer alert to car owners about odometer fraud on Tuesday, according to the CBS affiliate. WJAX.

“Odometer fraud preys on unsuspecting consumers, undermining trust and leaving financial and safety risks in its wake,” said Attorney General Moody.

“It is crucial that Floridians remain cautious and informed when purchasing vehicles to avoid falling victim to this. crime.”

Odometer fraud refers to “disconnecting, resetting, or altering a vehicle’s odometer with the intent to change the number of miles indicated,” according to the National Highway Traffic Safety Administration.

“NHTSA estimates that more than 450,000 vehicles are sold each year with false odometer readings,” the organization wrote in its report. website.

EASIER THAN EVER

An estimated 84,200 vehicles with false odometer readings are on the roads in the state of Florida, according to WJAX.

This represents a 12% increase compared to the previous year.

Florida now ranks fourth in the country for having the most cars with altered odometers on the road, Carfax experts told local reporters.

Carfax representatives said committing odometer fraud has become easier than ever with modern advances in technology.

Scammers can now hack a car in a matter of seconds – if they have the right tool.

A mechanic in Georgia explained how it works.

“If you pass the first grade test, you can operate one of these tools,” Josh Ingle told reporters.

The device can be purchased online for about $300, he explained.

“There is no mileage recorded anywhere else. We’re changing that in the car. He doesn’t know the difference anywhere else in the vehicle. So you’re not going to connect to something else and research,” he said.

The odometer can be changed in a few seconds.

“So we have 150,000 miles on the odometer now. I have one, two, three. Press the button and [it] flashes quickly. And now we’re at 50,000 miles. It’s very fast now,” Ingle said.

What is odometer fraud?

The National Highway Traffic Safety Administration says fraudulent odometer readings are a growing problem. Here’s what you need to know.

• Odometer fraud is “the disconnection, reset, or alteration of a vehicle’s odometer with the intent to change the number of miles indicated.”
• More than 450,000 vehicles are sold every year with rolled odometers
• Odometer fraud is estimated to cost consumers at least $1 billion annually

Car buyers can protect themselves against odometer fraud by:

• Purchase a vehicle history report before purchasing any new car
• Examine the vehicle closely to make sure its condition matches its stats
• Consult a mechanic or automotive professional if in doubt

Source: NHTSA

HOW TO PROTECT YOURSELF

With cases on the rise, Moody offered several tips for drivers looking to protect their potential investments.

Buyers should always purchase a vehicle history report for any car they are seriously considering purchasing.

These reporting sources tend to offer reliable information that has been verified over the years by multiple parties.

Be sure to fully inspect the car before signing any new agreement.

If the car’s wear does not match the odometer readingthink twice before proceeding with the purchase.

When in doubt, consult a professional.

You can always ask for help buying a new car from a qualified mechanic or specialist at your local auto repair shop.

And Moody said drivers should remember that if a deal seems too good to be true – it probably is.

Any car owner who believes they were sold a vehicle with an altered odometer should report the fraud to their local police department or call the NHTSA Vehicle Safety Hotline at 888-327-4236.