What information is NOT required on the odometer statement given at the transfer of ownership?

The odometer statement is an important document in vehicle sales as it provides essential details about the mileage of a vehicle at the time of transfer to ensure transparency and to prevent odometer fraud. The correct answer indicates that lease terms of the vehicle are not required on this statement.

While it's necessary to include specifics about the vehicle such as its make, model, and the odometer reading, as well as the names and addresses of the parties involved and the date of the transaction, lease terms do not pertain to the odometer disclosure. This focuses on the physical attributes of the vehicle and the transaction itself rather than the financial aspects of the lease agreement or terms associated with the lease. Including unnecessary financial information could complicate the straightforward purpose of the odometer statement.

The other information required on the odometer statement—like vehicle identification and participant details—ensures that all parties involved are properly identified and that the vehicle's condition with respect to mileage is accurately documented.