Density-functional theory ͑DFT͒ simulations corrected by the intramolecular Coulomb repulsion U are performed to evaluate the vibrational inelastic electron tunneling spectroscopy ͑IETS͒ of O 2 on Ag͑110͒. In contrast to DFT calculations that predict a spinless adsorbed molecule, the inclusion of the U correction leads to the polarization of the molecule by shifting a spin-polarized molecular orbital toward the Fermi level. Hence, DFT+ U characterizes O 2 on Ag͑110͒ as a mixed-valent system. This has an important implication in IETS because a molecular resonance at the Fermi level can imply a decrease in conductance while in the off-resonance case, an increase in conductance is the expected IETS signal. We use the lowest-order expansion on the electron-vibration coupling in order to evaluate the magnitude and spatial distribution of the inelastic signal. The final IET spectra are evaluated with the help of the self-consistent Born approximation and the effect of temperature and modulation-voltage broadening are explored. Our simulations reproduce the experimental data of O 2 on Ag͑110͒ ͓J. R. Hahn, H. J. Lee, and W. Ho, Phys. Rev. Lett. 85, 1914 ͑2000͔͒ and give extra insight of the electronic and vibrational symmetries at play. This ensemble of results reveals that the IETS of O 2 is more complicated that a simple decrease in conductance and cannot be ascribed to the effect of a single molecular-orbital resonance.