Titles and compliance
What is odometer disclosure?
A federal statement of a vehicle's mileage at transfer, signed by the seller and the buyer, required on most transfers and kept for five years.
The exemption rule splits on model year. Vehicles from model year 2010 and earlier are exempt once transferred at least 10 years after January 1 of the model year; model year 2011 and later run 20 years. So a 2011 does not become exempt until 2031.
Vehicles rated above 16,000 pounds GVWR and non-self-propelled vehicles are exempt regardless of age.
Get it wrong and the exposure is real: private suits allow treble damages or $10,000, whichever is greater, plus fees.
Source: 49 CFR 580.17 (exemptions)
Handle this automatically
Loturn tracks every cost against the VIN and shows live profit on every car, with real dealer accounting built in.
Related terms
Deal jacket
The deal jacket is the complete file for one sale: buyer, vehicle, money, and every signed disclosure, kept together so the deal can be reconstructed years later.
Title work
Title work is the paperwork that moves legal ownership: securing the title from the seller or lienholder, then transferring and registering it for the buyer.
General information for US dealers, not legal advice. Rules change and vary by state, so confirm specifics with your state agency or counsel.