Used Car Buyers: Beware of Hurricane Harvey Flooded Vehicles
Consumers and Businesses looking for a used car should be on high alert for flood-damaged vehicles that may have come from areas affected by the recent hurricanes and flooding. As a result of Hurricane Harvey there will be many flood damaged cars coming into the market over the next couple of weeks and months. Some will be “repaired” and to the average consumer’s eye they will look good. Anderson Rogers Insurance recommends that you do your due diligence for any upcoming used car purchases and walk away from any vehicle that might have been involved in flooding. Here are a few tips that can help you in researching the used car you are looking at::
|1. Buyers Beware!
While most states require vehicle titles to indicate flood damage, some wholesalers may intentionally transfer titles to avoid having the damage noted and diminish the value of the car.
2. Looks can be deceiving
While the car may look perfectly fine on the surface, there could be hidden defects that are not immediately noticeable. Flood damage can compromise the car’s computer and safety mechanisms, which pose significant safety hazards to the new owner.
3. Do your own inspection
Take the time to inspect the car for yourself:
4. Consider where you buy
5. Ask questions
Some of the information in this post originally appeared on the website of: The National Association of Insurance Commissioners is a voluntary organization of the chief insurance regulatory officials of the 50 states, the District of Columbia and five U.S. territories. The overriding objectives of state regulators are to protect consumers and help maintain the financial stability of the insurance industry.