Odometer Disclosure Statement Oklahoma Form
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People also ask
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What is a warning odometer discrepancy?
The mileage discrepancy refers to misrepresenting the mileage of the automobile. The odometer discrepancy has to emphasize the unreliability of the odometer tool in terms of counting and reading the mileage but in most cases, these two terms are used interchangeably.
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Who is exempt from title odometer in Oklahoma?
Vehicles and situations which are exempt from the odometer disclosure requirements are: (1) Vehicles which are not self-propelled, such as trailers. (2) Transfers of new vehicles from dealer to dealer on the MSO. (3) Vehicles which are ten (10) years old or older.
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What does it mean when Carfax says exempt from odometer reporting?
In most states, if the vehicle is less than 10 years old, the seller is required to report the current odometer reading at the time of sale. If the vehicle is over 10 years old, it is exempt from this requirement in many states. Check with your local DMV for your state's requirements.
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What is the odometer disclosure statement document?
All states are required to provide an odometer disclosure section/space on complying titles or complying forms. The odometer disclosure should contain: The complete vehicle description (make, year model, body type, and vehicle identification number). The date of sale.
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What is a federal odometer statement?
Federal law (and State law if applicable) requires that you state the mileage upon transfer of ownership. Failure to complete or providing a false statement may result in fines and/or imprisonment.
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What makes an odometer exempt?
The exempt mileage title is used when the mileage displayed on a vehicle's odometer cannot be verified as accurate due to exceeding the odometer's mechanical limits or being tampered with. It is issued by the DMV to protect potential buyers from paying more for a vehicle than it is actually worth.
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What is an odometer statement?
An odometer disclosure statement is a legal document that states the accurate mileage on a vehicle's odometer at the time of transfer from the seller to the buyer. If the seller knows that the car's mileage is incorrect, the document must contain that information.
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What are the requirements for the federal odometer disclosure?
Section 580.5(c) requires a transferor to sign, and to print his/her name on an odometer disclosure statement with the following information: (1) The odometer reading at the time of transfer (not to include tenths of miles); (2) the date of transfer; (3) the transferor's name and current address; (4) the transferee's ...
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