Odometer Fraud Still Exists, With Big Potential In Colorado’s Used Car Market

Odometer Fraud Still Exists, With Big Potential In Colorado’s Used Car Market


COULD USE A COOL DOWN AND MAYBE SOME MOISTURE GUYS. 70s LOOK GOOD. THANKS JUSTIN. THEY ARE TWO WORDS NO CAR OWNER WANTS TO HEAR. ODOMETER ROLL BACK. COLORADO IS ONE OF THE 10 WORST STATES IN THE COUNTRY FOR VEHICLES WITH ROLLED BACK ODOMETERS. NEARLY 20,000 ON THE ROAD RIGHT NOW, SAYS CARFAX. HE WHY EVEN THE PROS HAVE A TOUGH SOMETIME SPOTTING THIS VERY EXPENSIVE FRAUD. IT LOOKED REALLY GOOD ON THE E BAY LISTING. THE MILEAGE WAS QUITE REASONABLE FOR A 9-YEAR-OLD CAR. Reporter: 109,000 MILES. THIS JEEP SEEMED LIKE THE PERFECT SUV FOR WAYNE’S SON TO DRIVE TO AND FROM COLLEGE, SO HE BOUGHT IT. HE LATER ORDERED A CARFAX, WANTING TO KNOW ABOUT POSSIBLE RECALLS, BUT FOUND SOMETHING EVEN MORE CONCERNING. THERE WAS A FLAG THAT SAID ODOMETER DISCREPANCY. Reporter: THE CARFAX REPORT SHOWS THE MILEAGE AT 109,000 IN 2010. BY 2013, IT WAS 173,000 MILES. WE’RE TALKING ABOUT 40% MORE MILEAGE ON THAT THING THAN I WAS LED TO BELIEVE IT HAD. THIS IS MY SON’S VEHICLE. AND HIS SAFETY IS AT STAKE. Reporter: SO HOW DOES THE MILEAGE GO BACK TO 109,000 PRIOR TO IT BEING SOLD? MANY OF US DON’T EVEN REALIZE THAT ODOMETER FRAUD STILL EXISTS. Reporter: MANY CONSUMERS BELIEVE THE OLD AN ANALOG ODOM DEERS ARE THE ONLY WAY TO ROLL IT BACK. NOW IT’S AS SIMPLE AS PLUGGING IN HARDWARE AND SOFTWARE INTO THE CAR’S COMPUTER AND IT CAN LITERALLY BE DONE IN SECONDS. Reporter: MECHANICS SAY AN INSPECTION WON’T FLAG A ROLE BACK. IT’S REALLY HARD TO TELL. BUYING VEHICLE HISTORY REPORTS MAY BE YOUR ONLY WAY TO SPOT ODOMETER FRAUD. CARFAX SAYS THEY COLLECT CAR DATA FROM 92,000 SOURCES, AND IT WAS A MISSION TEST THAT CAUGHT THE FRAUD. IT’S CRIMINAL. IT’S A FEDERAL CRIME. Reporter: CARFAX SAYS VEHICLES 14 TO 15 YEARS OLD ARE MOST SUSCEPTIBLE. THESE ARE USED CARS THAT HAVE 100, MAYBE 200,000 MILES ON THEM THAT HAVE BEEN ROLLED BACK AT LEAST 50,000 MILES. IT COULD AFFECT SAFETY. IT COULD AFFECT THE VALUE OF THE CAR. MANY PEOPLE PURCHASE VEHICLES AT LOW MILEAGE, BECAUSE IT’S IDENTIFIED AS A LOCAL MILEAGE CAR, AND IT’S IN GOOD CONDITION. Reporter: THE AUTO INDUSTRY SAYS THEY INVESTIGATE ODOMETER FRAUD WITH LICENSED DEALERS IN THE STATE, BUT PEOPLE SELLING CARS INDIVIDUALLY OFTEN DON’T GET CAUGHT UNLESS CONSUMERS FILE COMPLAINTS WITH THE ATTORNEY GENERAL’S OFFICE. UNTIL CAR MANUFACTURERS COME UP WITH MORE TAMPER PROOF SYSTEMS IN THE VEHICLES, DO ALL THE HOMEWORK THAT YOU CAN. Reporter: JENNIFER BRICE, CBS4 NEWS. BIG PROBLEM. CARFAX SAYS ODOMETER FRAUD COSTS CONSUMERS $761 MILLION A YEAR.

About the Author: Michael Flood

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