Definition and Meaning of the Michigan Odometer Statement
The Michigan Odometer Statement, often referred to as the BDVR-108 form, is a legal document required during the transfer of vehicle ownership. This form discloses the vehicle's mileage and is mandated by federal law for most vehicle sales or transfers involving vehicles that are less than ten years old and weigh under 16,000 pounds. The purpose of the form is to prevent odometer fraud by certifying whether the mileage displayed on the odometer is actual, not actual, or exceeds mechanical limits. This certification is crucial for both sellers and buyers to ensure transparency in the transaction.
How to Use the Odometer Mileage Statement
The Odometer Mileage Statement is used primarily during the sale or transfer of a vehicle. It serves as a formal declaration of the vehicle's mileage at the time of transfer. To use the form effectively, both the seller and the buyer must complete their respective sections accurately. The seller provides the current odometer reading and certifies its accuracy, while the buyer acknowledges the information provided. This process helps to establish trust and protect both parties from potential disputes related to the vehicle’s mileage.
How to Fill Out the Odometer Mileage Statement
Filling out the Michigan Odometer Statement is a straightforward process that requires specific information from both the seller and the buyer. Here are the steps to complete the form:
- Gather Necessary Information: Collect vehicle details such as the Vehicle Identification Number (VIN), make, model, and year. Also, gather personal information including names and addresses of both parties.
- Seller's Responsibilities: The seller must enter the current odometer reading, the date of the transaction, and their printed name and address. They must also sign the form in ink.
- Certify Mileage: The seller needs to check the appropriate box indicating whether the mileage is actual, not actual, or exceeds mechanical limits. This certification is crucial for legal compliance.
- Buyer's Responsibilities: The buyer must provide their printed name and address and sign the form in ink. Both signatures are essential for the document to be valid.
Important Elements of the Odometer Mileage Statement
Several key elements must be included in the Michigan Odometer Statement to ensure its validity:
- Odometer Reading: The exact mileage displayed on the odometer at the time of sale, without tenths of a mile.
- Certification of Mileage: The seller must indicate the status of the mileage, ensuring there is no ambiguity regarding its accuracy.
- Signatures: Both the seller and buyer must provide their signatures in ink, confirming their agreement to the terms stated in the form.
- Date of Transfer: The date when the transaction occurs is crucial for record-keeping and legal purposes.
Legal Use of the Odometer Mileage Statement
The Michigan Odometer Statement is legally binding and must be completed accurately to comply with federal regulations. Failure to provide a proper odometer disclosure can lead to significant legal consequences, including potential fines or penalties. This document is essential for protecting both the seller and buyer from future disputes regarding the vehicle's mileage. It is advisable for both parties to retain a copy of the completed form for their records.
Who Typically Uses the Odometer Mileage Statement?
The Odometer Mileage Statement is primarily used by individuals and businesses involved in the sale or transfer of vehicles. Common users include:
- Private Sellers: Individuals selling their personal vehicles.
- Dealerships: Auto dealerships that sell used cars must provide this statement to ensure compliance with federal law.
- Buyers: Individuals purchasing vehicles, who need to verify the mileage and ensure it is accurately represented.
Examples of Using the Odometer Mileage Statement
Consider a scenario where a private seller is selling a used car to a friend. The seller must complete the Michigan Odometer Statement, indicating that the car has 85,000 miles on the odometer. The seller checks the box for "actual mileage," signs the form, and provides their printed name and address. The buyer then fills in their information and signs the form as well. This completed form protects both parties by documenting the mileage and preventing future disputes.
State-Specific Rules for the Odometer Mileage Statement
In Michigan, the Odometer Statement must adhere to specific state regulations. For instance, it is required for vehicles that are less than ten years old. Additionally, if the title is lost, the BDVR-108 form serves as an alternative to provide the necessary odometer disclosure. Understanding these state-specific rules is essential for compliance and ensuring a smooth transaction.
