Used Ferrari Prices May Change Because of Odometer Fraud

Some owners of high end vehicles like Ferraris pride themselves on only having a certain amount of miles on their cars.

Lower mileage on a car such as a Ferrari can keep the price elevated if an owner ever wants to resell the car. Likewise, used Ferrari prices for buyers are higher if the mileage on a previously owned car is low.

Recently, a used Ferrari prices scandal has been uncovered as both dealerships and the car manufacturer themselves have been accused of illegally rolling back the mileage on previously owned Ferraris. They have done this, allegedly, to increase the amount for which they can sell a used Ferrari.

Odometer Fraud

Federal law prohibits anyone from tampering with the odometer of any car. These laws are mainly in place to protect the consumer. Odometer fraud costs Americans $1 billion per year and is a serious offense that is punishable by law.

According to the NHTSA (National Highway Traffic Safety Administration), odometer fraud is the “disconnection, resetting, or alteration of a vehicle’s odometer with the intent to change the number of miles indicated.”

The recent used Ferrari prices scandal was brought to light when a South Florida media outlet reported on a Miami-area Ferrari dealership and its alleged odometer fraud. A salesperson at the Palm Beach Ferrari dealership filed a whistleblower lawsuit, also accusing the dealership of wrongful termination. Allegedly, this salesman witnessed Palm Beach Ferrari engaging in odometer fraud.

Ferrari dealerships use a diagnostic tool called a DEIS tester. This system can do many things, but it can also alter the odometer on a Ferrari.

Ferrari Exposed

The lawsuit alleges the salesperson was terminated because he exposed Ferrari.  After the press became aware, an internal memo was issued by Ferrari stating that the “reset to zero” function on the DEIS tester was being removed.

What this memo indicates however, according to the salesperson’s lawsuit, is that Ferrari was aware and complicit in dealerships resetting the odometer of their previously owned cars to zero.

In addition to the internal memo, Ferrari also announced that it was removing a paragraph from its Ferrari Workshop Manuals that instructed technicians how to rollback the odometers on its vehicles.

Whistleblower Forces Company to Come Clean

This lawsuit centers around the salesperson who was fired after he discovered that the Palm Beach Ferrari dealership he worked at was rolling back odometers on its cars. He discussed this practice with one of the dealership’s clients who allegedly paid a technician to roll back the odometer on his own vehicle, thereby increasing the value of his car by $1 million.

An attorney for the salesperson was quoted by idahostatesman.com as saying “The practice ceased after my client, Bud Root, blew the whistle and just days after his story was picked up by the media. What remains now is to determine how pervasive this practice has been and to compel Ferrari to come clean.”

Because odometer changes issued by the DEIS tester had to be approved by Ferrari itself, it has been alleged that Ferrari has also taken part in odometer fraud and that this practice is probably common at other dealerships around the world.

Join a Free Ferrari Odometer Rollback Lawsuit Investigation

If you purchased or leased a used Ferrari, and still have the car, you may be owed significant compensation.

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