Number of Vehicles With Suspect Odometers Tops
2 Million, up 14% Since 2021
CENTREVILLE, Va., Dec. 6, 2023
/PRNewswire/ -- CARFAX data shows that odometer rollbacks are on
the rise nationwide. Roughly 2.1 million vehicles on the road have
had their odometer rolled back – up 14% since 2021, or an
additional 300,000 vehicles. Consumers lose an average of
$4,000 in value from unknowingly
buying a rolled-back car – and that doesn't include any unexpected
maintenance costs.
Roughly 2.1 million vehicles on the road
have had their odometer rolled back – up 14% since 2021.
Odometer rollbacks occur when an unscrupulous owner or seller of
a car alters the miles that display on a car's gauge cluster. This
might be done as a way to avoid mileage charges in a vehicle lease
or to dramatically increase the value of a car. Today's technology
makes rolling an odometer back easier than ever.
"Odometer fraud didn't go away with the
introduction of digital odometers," said Patrick Olsen, Editor-in-Chief for CARFAX.
"We're still seeing the number of vehicles on the road with a
rolled-back odometer rise year-over-year. It takes con artists only
a matter of minutes to wipe thousands and thousands of miles off a
vehicle's odometer." Add to that simplicity a market where used car
prices continue to run high, and it's an enticing situation for
scam artists.
These are the 10 states nationwide with the most vehicles with
rolled-back odometers. Nine of the 10 saw increases this year:
- California: 469,000, up
7.2%
- Texas: 277,000, up 12.8%
- New York: 100,000, up
9.0%
- Florida: 85,400, up 1.4%
- Illinois: 79,000, up 7.6%
- Pennsylvania: 69,600, up
2.1%
- Georgia: 67,600, up 4.0%
- Arizona: 57,000, up 4.8%
- Virginia: 56,000,
unchanged
- North Carolina: 49,000, up
8.2%
Consumers can get a free Odometer Fraud
Check as well as tips to protect themselves at
www.carfax.com/odo.
Editor's note: Interviews with a used car expert from CARFAX
are available at any time, including localized numbers on odometer
fraud. Please contact Patrick
Olsen at patrickolsen@carfax.com.
About CARFAX
CARFAX, 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 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.
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.
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SOURCE CARFAX