As a protection for consumers, federal and state laws require an odometer disclosure statement when the title of a vehicle 10 model years old or more is transferred. The odometer disclosure statement is typically completed on the backside of the title. This layer of consumer protection is designed to prevent odometer fraud, ensuring that all parties are aware of the mileage on a vehicle.
A change in federal regulations that took effect Jan. 1, 2021, extends the vehicle age required to provide an odometer statement. The new rule from the National Highway Traffic Safety Administration begins with model year 2011 and newer vehicles. Until the year 2031, all vehicles of model year 2011 or newer must have an odometer disclosure. Beginning in 2031, all vehicles 20 model years old or older will be required to have an odometer statement when transferring a title.
This change applies to all transfers of vehicles, including sale by a dealer, private sale, or vehicles received through gift or inheritance.
Any transaction where the odometer statement was previously not required (for example, a 2010 vehicle purchased in 2020) will continue to be exempt.
Want more news on this topic? Iowa Farm Bureau members may subscribe for a free email news service, featuring the farm and rural topics that interest them most!