missouri odometer disclosure statement

2 min read 24-08-2024

When it comes to buying or selling vehicles in Missouri, one important document that must be filled out is the Odometer Disclosure Statement. This statement serves to protect both buyers and sellers from odometer fraud and ensures that the mileage on a vehicle is accurately reported.

What is an Odometer Disclosure Statement?

The Odometer Disclosure Statement is a legal document required by federal and state law when transferring ownership of a vehicle. It provides a record of the vehicle's mileage at the time of sale and is designed to ensure that the odometer reading is truthful.

Why is it Important?

Prevention of Fraud: The statement helps prevent odometer tampering, where a seller might alter the mileage to make a vehicle appear less used than it actually is.
Legal Protection: Both buyers and sellers are legally protected; if a buyer discovers that the mileage was misrepresented, they may have grounds for legal action.
Compliance with Laws: Completing this statement is necessary for complying with both federal and Missouri state laws concerning vehicle sales.

Who Needs to Complete It?

Both the seller and buyer of a vehicle in Missouri must sign the Odometer Disclosure Statement. This includes:

Private sellers
Dealerships
Buyers purchasing vehicles from individuals or dealerships

How to Complete the Statement

Steps to Fill Out the Odometer Disclosure Statement:

Obtain the Form: The form can usually be found at your local Department of Revenue office, or it may be provided by the dealership if you are buying from one.
Fill in Vehicle Information: This includes the vehicle’s make, model, year, and VIN (Vehicle Identification Number).
Record Odometer Reading: Accurately write down the odometer reading as it appears at the time of sale.
Indicate the Date of Transfer: Enter the date when the ownership is being transferred.
Signatures: Both the seller and buyer must sign the document. This indicates that both parties acknowledge the accuracy of the mileage and that they are aware of the terms of the sale.

Additional Considerations

Disclosure of Damage or Salvage: In some cases, sellers are also required to disclose if the vehicle has been in an accident or has a salvage title.
Retain Copies: It's advisable for both parties to keep copies of the signed statement for their records.

Conclusion

The Missouri Odometer Disclosure Statement is a crucial document in the vehicle selling and buying process. It ensures transparency between both parties and helps to combat odometer fraud. Always ensure that this form is accurately filled out and signed to avoid any future legal complications. Understanding and adhering to this requirement will foster trust and protect your investment in a vehicle transaction.