Federal regulations dealing with record-keeping on odometer
readings of all cars bought and sold will have little, if any,
affect on Oklahoma dealers or consumers.
The regulations, scheduled to become effective in April, are
designed to curtail rolling back odometers, costing consumers more
than $3 billion a year nationwide. This cost comes from paying more
for a car than it's worth, based upon the miles it has been driven.
Oklahoma law, adopted three years ago, requires odometer
readings be recorded on the title so there is a paper-trail of how
many miles the car was driven, according to Steve Rankin, executive
director of the Oklahoma Automobile Dealers Association.
One benefit to be derived from the federal regulations, Rankin
said, is that dealers or individuals who sell cars no longer will be
required to also provide a separate mileage statement.
"The way it has been explained to us," Rankin said, "is that the
new federal regulations will supersede the need for a separate
"Now, the only thing that will be necessary is the recording of
the odometer reading on all titles."
Sine that state law became effective, Rankin said, automobile
titles have been colored green. Previous titles, which don't
contain odometer readings, are brown.
"There are still a lot of brown titles around," he said. "But
when those cars are sold, the titles will be updated to record the
The regulations, issued by the National Highway Traffic Safety
Administration, will impose stricter paperwork standards on states
and auto dealers across the nation. The rules take effect next
The National Highway Traffic Safety Administration estimated the
requirements will cost $6.5 million annually, although removal of
other record-keeping requirements will reduce the net cost.
Douglas Greenhaus, an attorney for the National Automobile
Dealers Association, said the rules would be good for the auto
"It should result in a net benefit to dealers, who are
oftentimes victims of odometer fraud, to the extent that they are
purchasers of vehicles that have been spun back," Greenhaus said.
"This rule will increase enforcement and help solve the odometer
fraud problem. It will benefit dealers in the long run."
The regulations, required by the Truth in Mileage Act passed by
Congress in 1986, will require all motor-vehicle titles issued after
April 29, 1989, be printed so that counterfeiting and alteration can
be detected easily. Titles also must include mileage readings and a
place for buyers to disclose the mileage when a car is sold.
Regulations also would require:
- Sellers disclose odometer readings when transferring title. …