Odometer fraud on the rise, costing NC used car buyers thousands; how to protect yourself
NORTH CAROLINA (WTVD) -- Odometer fraud is becoming increasingly common, and new data shows it's putting millions of drivers at financial risk. According to newly released CARFAX data, an estimated 2.45 million vehicles currently on U.S. roadways are suspected of having rolled-back odometers. That marks a 14% increase from last year, signaling a growing problem for used car buyers.
In a matter of seconds, scammers can manipulate a vehicle's odometer to make it appear far less driven and far more valuable. In one demonstration, a vehicle's mileage dropped from 150,000 miles to just over 50,000 miles, instantly erasing more than 100,000 miles of wear and tear.
"As soon as scammers get their hands on those tools, it just takes a few seconds to roll back the mileage," said Em Nguyen of CARFAX , "That can cost an unsuspecting consumer many thousands of dollars."
While mileage correction tools can be used legitimately for repairs or replacements, experts warn that they are now cheaper and easier to obtain, making them more accessible to criminals. "Years ago, these tools cost thousands of dollars," Josh Ingle of Atlanta Speedometer said. "Today, you can buy one for just two to three hundred dollars."
CARFAX experts say today's competitive used car market is fueling the surge in fraud. "Used car prices are still very high, inventory is limited, and demand remains strong," said Nguyen. "Scammers are thinking, 'How do we make this vehicle look more desirable?' Rolling back the odometer is one way."
According to CARFAX, North Carolina ranks 10th in the nation for odometer fraud. According to their data, the state currently has an estimated 58,800 vehicles on the road with suspected rollback issues.
Buying a vehicle with a rolled-back odometer doesn't just mean overpaying upfront. According to CARFAX, consumers lose an average of $3,300 per vehicle when they unknowingly purchase a car with odometer fraud, excluding the costly repairs that can arise due to the vehicle having significantly more mileage than advertised.
Experts recommend taking these steps before purchasing a used vehicle:
- Check the VIN for free on CARFAX to look for mileage inconsistencies over time
- Make sure the mileage aligns with the vehicle's age
- Have a trusted mechanic inspect the car to see if wear and tear match the reported mileage
Being proactive could save you thousands and help you avoid a costly mistake.
