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: http://wheels.blogs.nytimes.com/2012/11/02/buyer-beware-cars-flooded-by-hurricane-could-turn-up-on-the-market/

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