Used Car Buyers Beware Of Flood Damages
Hurricane Katrina brings new hazards to the used car market, not
only in the Gulf States region affected by floodwater, but
across the nation as well.
The risk of buying a vehicle with flood damage goes up
significantly and along with high demand and low volume, it is
likely the price will also increase for used cars in the
affected market area.
While a vast majority of the vehicles will be considered a
“Total Loss” by insurance companies and scrapped, there are
still hundreds if not thousands that will be back in the market
place for resale purposes.
Wholesalers may purchase moderately damaged flood vehicles and
sell at auctions across the country, leaving unsuspecting buyers
at risk of purchasing a vehicle that has been damaged by Katrina.
Water damaged vehicles can be one of the most serious and costly
types of damage. The long-term effects of corroded electronic
parts and wiring can be devastating and almost impossible to
correct and repair.
Here are few tell tale signs and basic tips consumers can take
to minimize the risk of purchasing a vehicle with flood damage.
Unless cleaned up properly, flood damage will leave grass and
debris around the radiator, underneath around the frame, front
and rear suspension components, etc.
Waterlines may be visible in the engine comprtment, rear
firewall area, and even inside door pockets of the door panels
and interior trim areas.
Mildew smell inside due to wet carpeting and padding underneath
the carpet.
Inspect connectors and wiring for signs of corrossion
Rusted bolts and metal components, particularly underneath where
water has been standing.
Inspect for windows fogging up on the inside after the vehicle
has sat overnight, this is an indication that there may be water
underneath the carpet and or carpet padding.
Inspect trunk area for waterlines, corroded connectors and
wiring.
With a keen eye and a little knowledge you can minimize the risk
of spending thousands of dollars on a vehicle that has potential
long term effects by water damage.
Usedcarwise.com offers a comprehensive “how to” course designed
to educate the average consumer on protecting themselves when
used car shopping.
For more information visit the web site at www.usedcarwise.com
or call toll free 1 866 374 WISE (9473).