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Hoax: Mileage Inverted
Counterfeit car mileage remains one of the biggest problems in the used car market around the world. The problem of “unscrewing” the odometers has not gone away and costs consumers a lot of money. From a legal perspective, it is often difficult to determine who should be responsible for falsifying this data. Still, this trend continues to this day and unscrupulous sellers are still trying to artificially inflate the price of the car.
CarVertical, the largest platform for checking car history, has done a study to find out which cars have the most odometers rotated. For accurate results, more than 570 thousand. different car history reports. This analysis revealed how much drivers overpay when buying a car with fake mileage.
Diesel car dominance
Of all the history reports generated in 2020, the highest number of cases of falsified mileage was observed during inspections of diesel-powered cars. Almost three-quarters (74.4%) of these cars had more or less mileage adjustments. Diesel engines are to the liking of the driver, who travels long distances every day. This is becoming the main reason these cars are more likely to have fake mileage in the aftermarket.
Meanwhile, used gasoline cars are much less likely to misrepresent mileage, accounting for only 25% of all observed odometer revolutions. However, this trend may change in the future, as the share of new diesel and gasoline car sales has changed dramatically in recent years.
Hybrid and electric cars were among the least common, accounting for just 0.6% of all observed mileage counterfeits.
Cheap crime, high yield (or loss)
One of the main reasons that mileage investing is so popular with rogue sellers is the price. For just a couple hundred euros, odometer readings can be faked even on cars protected with up-to-date software. But there is a much greater threat to society.
According to a study by carVertical, depending on the age and condition of the car, reducing mileage can artificially increase the cost of the car by as much as 25 percent. The data shows that the price of imported cars from the United States can go up to 6,000 euros. And all of this can only be achieved by changing the odometer numbers. Without knowing the true history of the car, the buyer may overpay even a few thousand euros.
Older cars “unscrew” more
Survey data showed that the most bogus automobile mileage occurred between 1991 and 1995. On average, the mileage of vehicles in this age group is reduced by 80,000 kilometers.
This should come as no surprise, as faking older car data is a much cheaper and less technically demanding process. In such cases, it is much easier to change the odometer readings.
Cars that were made between 2016 and 2020 were “turned” on average 36,000. kilometres. However, the impact of such counterfeiting on the price can be several times higher than on older vehicles.
The study also found cases where mileage was reduced by 200,000 or even 400,000 kilometers.
conclusion
Many used car buyers do not know the true history of the car they are buying. What’s more, some providers don’t even know about your past. A car history report can reveal facts that will help you avoid becoming the owner of a bad car. In addition, it can become an aid in price negotiations. 25% of the car price is a good reason to check a vehicle’s history online before purchasing.
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