Flood-Damaged Vehicles Likely To Hit Used Car Market
Posted: 4:14 pm PST December 12, 2007Updated: 8:53 am PST December 13, 2007
Experts are warning car buyers that flooded cars are likely about to hit the used car market in Western Washington.Last week's flooding swamped hundreds of cars, causing electrical damage, rust and corrosion. But experts say they'll be out on the used market soon."It absolutely will happen. In almost any storm, about half the vehicles that are damaged from floodwaters will end up back on the market," said Chris Basso of Carfax."It could take a few weeks before we start seeing them surface in numbers, but they will surface consistently thereafter for a long period of time," said Doug Walsh of the state Attorney General's Office.We've seen it before, notably after Hurricane Katrina damaged more than half a million vehicles.
Flags on the title, warning that a car was flood-damaged or scrapped, might get "washed" off out of state.Walsh warns consumers to stay away from the "Curbstoners" -- illegal car dealers who don't have a license and have no accountability."And you can really get burned in those deals. So, if you don't know who you're buying from, your risk of buying a salvaged or flood damaged vehicle is much higher," he said."You really want to do your homework, make sure that you're comfortable with the seller. If anything feels wrong about the sale, the car itself or the information that the seller's giving you, just walk away," Basso aid.Basso said your best defense is information. Get a trusted mechanic to inspect any car you're considering; he or she can easily spot the telltale signs of a flood in here.And get the "VIN" number and check it on an Internet data base.To check out a car's history, go to carfax.com and do to check using the car's VIN number at nicb.org.
MORE ON THIS STORY To check out a car's history, go to carfax.com and do to check using the car's VIN number at nicb.org. |
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