One of the oldest car scams in the book is still giving car buyers and sellers fits. It may seem like an ancient and forgotten practice, but as the WBZ I-Team in Boston finds out, people are rolling back odometers at an alarming rate. In fact, CARFAX® data suggests there are more than a million vehicles in operation across the country with a potential odometer rollback, and 200,000 new cases of this fraud happen every year.
Walter Lewis of Boston thought he was buying his Honda Accord this past spring with 100,900 miles, but the CARFAX Report shows it had 187,000 back in the summer of 2013. Lewis told the I-Team that he felt cheated. Despite common misconceptions, the use of digital odometers has failed to curb criminals from altering the mileage on vehicles and selling them to unsuspecting consumers or trading them in at local dealerships. Instead, equipment that’s easily obtained online can change the odometer reading on practically any vehicle within seconds and leaves no physical evidence of tampering. So for the unfortunate dealers and individuals who unknowingly wind up with these rolled back cars, the annual losses can amount to approximately $800 million.
As a CARFAX Advantage® Dealer, you can run as many CARFAX Reports as you need to help avoid odometer fraud wherever and whenever you purchase vehicles. Plus, CARFAX Used Car Listings lets people on carfax.com shop your inventory with the added peace of mind they won’t be another victim of this scam. Protect your business and your customers – become a CARFAX Advantage Dealer and get your inventory up on CARFAX Used Car Listings today by calling 888–788-7715.