A car dealer and a sales executive have recently admitted to participating in a systematic clocking scam, which has raised concerns about the integrity of the used car market. The scam involved rolling back the mileage on vehicles to make them appear more attractive to potential buyers.
Clocking, also known as odometer fraud, is a deceptive practice that involves tampering with a vehicle’s odometer to make it appear as though the car has been driven fewer miles than it actually has. This can inflate the value of the vehicle and deceive buyers into paying more than the car is worth.
In this particular case, the car dealer and sales executive were found to have been involved in a scheme where they would purchase high-mileage vehicles at auction, roll back the odometers, and then sell them at a profit. The scam was uncovered after a customer noticed discrepancies in the mileage of a car they had purchased and reported it to authorities.
The consequences of odometer fraud can be significant for consumers. Not only does it result in buyers paying more for a vehicle than it is worth, but it can also lead to safety concerns if the true mileage of the car is not accurately reflected. Additionally, odometer fraud can impact the resale value of a vehicle and make it more difficult for owners to sell their cars in the future.
To combat odometer fraud, consumers are advised to be vigilant when purchasing a used car. They should always check the vehicle’s history report for any discrepancies in mileage and be wary of deals that seem too good to be true. It is also recommended to have a trusted mechanic inspect the vehicle before making a purchase to ensure its condition matches the mileage indicated.
Authorities are cracking down on odometer fraud, and those found guilty of participating in such scams can face criminal charges and hefty fines. The case of the car dealer and sales executive serves as a reminder of the importance of transparency and honesty in the used car market, and highlights the need for consumers to be cautious when making a purchase.
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- Source: https://zephyrnet.com/car-dealer-sales-executive-plead-guilty-to-systematic-clocking-scam/