The exorbitant movement in the car sales market means it’s odometer rollback season. According to CarfaxA company that compiles vehicle history reports from various touchpoints in a vehicle’s lifecycle, its research shows that the odometers of more than 1.9 million vehicles on the road have been tampered with. . That total is up 7% compared to 2021. CarFax ranks the states by the number of tampered vehicles on their roads, with California first with 437,600 and North Carolina tenth with 45,300. Numerically, all of the top 10 states except Arizona are among the largest auto markets in the United States. Top 10 according to Statista The 2020 vehicle registration states were California, Texas, Florida, Ohio, New York, Illinois, Pennsylvania, Georgia, North Carolina and Virginia. And according to CarFax, 1.2 million of the 1.9 million rogue vehicles on the road are in the top 10 states by volume. In his remaining 40 states, an average of about 17,000 tampered vehicles remain.
Among the states on the volume list, those with the highest fraud rates were Texas (15%), Florida and Arizona (12% each), North Carolina (7%), and Illinois and Pennsylvania (5% each). was. California, New York, Georgia and Virginia are in the top 10 with less than 5% increase.
Current stats are hard to find on odometer rollbacks. 450,000 cars sold each year with tampered odometersand that’s the number that’s still Bandai about 20 years later. NHTSA said new york times“Odometer fraud is a serious crime. It costs Americans more than $1 billion a yearThat economic cost was also derived from a 20-year-old study that found that each of the 450,000 car sales cost the consumer an average of $2,336. Coincidentally, his CPI inflation calculator for the US Bureau of Labor Statistics calculates that his $2,336 in 2002 equals his $3,868 in November 2022. The company sells services intended to address research objectives. NHTSA government official document Since 2010 the CarFax logo has been displayed and the NHTSA has recommended purchasing CarFax reports. This company is a go-to for this kind of annual local news story. This report from Phoenix last year, This report from Detroit two years ago, This is from Jacksonville, Florida When this is from minneapolis 3 years ago and This is from Memphis, Tennessee 5 years ago.
Going back to the last century, the U.S. Department of Justice said Average rollback includes savings of over 40,000 miles, invested in investigative news program 60 minutes Odometer tampering has been called “America’s Biggest Consumer Fraud.” Digital odometers haven’t stopped practicing.Odometer rollback is still a big thing.Amazon and eBay sell “mileage correction” tools that can reset many vehicles to any mileage. and there are plenty of tutorials on YouTube. In times like these, he really can’t make too much money selling a car that claims to have 80,000 miles compared to another example of a model that has 120,000 miles. So, as always, buyers beware. And don’t be afraid to ask the seller to provide CarFax.