How to look out for odometer fraud as the crime rises in Illinois – N…

While experts expect used car prices to fall in 2024, odometer fraud is on the rise nationwide and locally in Illinois.

According to a new data from Carfax, more than 2 million vehicles on the road have had their odometers rolled back.  

Illinois has emerged as a hotspot for the crime, ranking fifth in the nation and impacting close to 80,000 drivers, primarily in the Chicago area.

“They can take 10,000, 20,000, 50,000, even 100,000 miles or more off the odometer of a car. And what that does is it dramatically increases the value of the car to potential buyers,” said Patrick Olsen of Carfax.

Olsen said the average consumer loses around $4,000 in value from unknowingly buying a rolled-back car, with that total sometimes being much greater.

“We looked at two Ford F-150 2018 models that are on the road today, one at 50,000 miles, one has 150,000 miles. The value difference between them is $10,300. And that presents quite the incentive for scammers,”…