Buyer Beware: Flooded Cars will Soon be Flooding the Used Car Market

“After a total-loss claim is paid, insurers typically sell the vehicle to the salvage market. Because flooded vehicles often bear no signs of physical damage, “they offer a prime opportunity for con men to clean them up and sell them,” said Larry Gamache, a spokesman for Carfax. After other flood events like Hurricane Katrina, he said, “the percentage of cars that ended up in the market was alarming.’” More at: