Asked by Chloe Francis on May 06, 2024

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If the seller of an automobile believes that the mileage reading on the odometer is incorrect,the disclosure statement must indicate that the actual mileage is unknown.

Odometer

An instrument used to measure the distance traveled by a vehicle.

Disclosure Statement

A document that provides essential information about a financial product, investment, or business opportunity.

Actual Mileage

The real distance that a vehicle has traveled, as opposed to the distance indicated by an odometer, which can be inaccurate or tampered with.

  • Understand responsibilities and legal requirements in consumer transactions.
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Verified Answer

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Mohan BanothMay 07, 2024
Final Answer :
True
Explanation :
According to the Federal Odometer Law, if the seller believes that the mileage reading on the odometer is incorrect or known to be different from the actual mileage, they must indicate that the actual mileage is unknown on the disclosure statement. This is to prevent odometer fraud and ensure that buyers have accurate information about the vehicle's history.