What is the consequence of failing to provide an odometer disclosure statement?

Failing to provide an odometer disclosure statement can lead to legal penalties and consumer distrust due to the importance of accurate vehicle history in the buying and selling process. The odometer disclosure statement serves to confirm the mileage on the vehicle at the time of sale, which is critical for buyers in assessing the true condition and value of the vehicle. Without this disclosure, the seller may inadvertently misrepresent the vehicle’s history, leading to potential lawsuits, fines, or other penalties for violating federal and state regulations related to odometer fraud. Additionally, the absence of this statement can harm the seller’s reputation, as consumers may be wary of transactions that lack transparency, leading to a loss of trust that can affect future sales.