PR Newswire
Digital Odometers Can Be Easily Manipulated, Costing Unsuspecting Buyers Thousands
CENTREVILLE, Va. , Dec. 15, 2022 /PRNewswire/ -- Alarming new numbers from CARFAX show odometer rollbacks are on the rise nationwide. More than 1.9 million vehicles on the road have had their odometer rolled back - a 7% increase from the previous year. Consumers lose an average of $4,000 in value from unknowingly buying a rolled back car, and that doesn't include unexpected maintenance costs.
"Many people think odometer fraud disappeared with the invention of digital odometers," said Emilie Voss , Public Relations Director for CARFAX. "But that couldn't be further from the truth. We're still seeing the number of vehicles on the road with a rolled back odometer rise year-over-year. It takes con artists a matter of minutes to wipe thousands and thousands of miles off a vehicle's odometer, and unfortunately these swindlers likely see this unprecedented used car market as a way to make quick buck."
CARFAX offers a free Odometer Fraud Check tool and tips to protect yourself at www.carfax.com/odo .
About CARFAXCARFAX , part of S&P Global Mobility, helps millions of people every day confidently shop, buy, service and sell used cars with innovative solutions powered by CARFAX® vehicle history information. The expert in vehicle history since 1984, CARFAX provides exclusive services like CARFAX Used Car Listings , CARFAX Car Care , CARFAX History-Based Value and the flagship CARFAX Vehicle History Report to consumers and the automotive industry. CARFAX owns the world's largest vehicle history database and is nationally recognized as a top workplace by The Washington Post and Glassdoor.com. Shop, Buy, Service, Sell – Show me the CARFAX®.
S&P Global Mobility is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets.
SOURCE CARFAX