DMV-DIRECT Newsletter September 2017

S e p t e m b e r | 1 7

Fo r you r dea l e r s h i p’s b i l l i ng c l e r k s , t i t l e p ro c e s s o r s and o f f i c e manage r

AVOID MILEAGE DISCREPANCIES ON VEHICLE TITLES

When your dealership takes a vehicle in trade, or buys one at auction, does the mileage on the front of the title match the mileage listed on the back? If not, you may risk lowering the value of the vehicle. The mileage on the front of the title is printed by the DMV; the mileage on the back is written by the customer/seller. If the number on the front is higher than the number on the back, and the error is not corrected, DMV will brand the title “NOT ACTUAL MILEAGE”, which is likely to impact the vehicle’s resale potential. If the dealership takes a used vehicle with a mileage discrepancy, and does not want it to be branded “NOT ACTUAL MILEAGE”, the discrepancy must be corrected before the vehicle can be resold. In all cases, the dealership will need to: - Contact the DMV Title Department in the state in which the title was issued, tell them about the mileage discrepancy, and ask how they can correct it. - Be able to provide the original title, original MV-103 (signed by both the customer and the dealership), and additional documentation needed for the state issuing the title, and, if necessary, fees to cover the cost of correcting the title.

This process can take up to 8 weeks, depending on when the discrepancy occurred and in what state the vehicle is titled. Since vehicles with mileage discrepancies are unsellable (as “ACTUAL MILEAGE”) during that time, DMV-DIRECT strongly recommends that dealers avoid accepting vehicles with discrepancies. Dealers can make their acceptance of the vehicle conditional upon the owner first correcting the mileage by contacting the DMV. Important Notes about Fixing Discrepancies in NY • The New York State DMV does not extend temporary registrations in order to correct mileage discrepancies. This is another factor that could deter a potential customer who might wish to correct the mileage themselves. (Again, mileage corrections can take as long as 8 weeks.) • A New York State title with an affidavit for mileage correction from another state is not acceptable documentation to have the NYS DMV correct the mileage on the front of a title.

The mileage number listed here must be either equal to or greater than the mileage number listed on the front of the title.

18-10 Whitestone Expressway, Whitestone, NY 11357 • 718.747.0400

Made with FlippingBook flipbook maker