Changes are coming for odometer laws at the start of the New Year....And no, you aren't experiencing déjà vu.
NHADA previously wrote about the odometer disclosure law change here.
The National Highway Traffic Safety Administration (NHTSA) published a ruling last year regarding odometer disclosures beginning in 2020. A late petition to reconsider the rule led to it being pushed back an additional year.
What this new rule means for dealers and their customers in 2021
- The law changes the number of years a vehicle is exempt from disclosure.
- Beginning January 1, 2021, all vehicles models 2011 and newer must disclose mileage for 20 years.
Under the new rule, a 2011 model year vehicle will require odometer disclosure until the year 2031.
Why was this rule changed?
According to NHTSA, the average age of vehicles on the road today is 12 years old and that number is increasing. In order to combat odometer fraud in older model vehicles and protect consumers, NHTSA implemented this new rule.
How will this affect dealers?
Starting with 2011 model year vehicles, you will need to disclose the mileage for 20 years rather than 10.
The NH DMV will not need to update any forms but all dealers should review their own odometer forms and educate and train staff how to properly use odometer disclosures.
Please reach out to Dan Bennett with any questions on this matter.