Thousands of vehicles are expected to be disbursed around the country and could possibly appear as a ready to sell used vehicle, when in fact, they could be damaged goods.
Flood-damaged vehicles for the most part are worth about 40 percent less than the actual book value, the amount a non-damaged vehicle usually sells for on the used car market.
So, to ensure that you’re not left holding the bag, paying too much for a flood-damaged vehicle or to literally steer clear of a flood-damaged vehicle, here are several tips to help navigate the inspection process. In fact, this process is useful for any used car purchase, not just flood-damaged vehicles.
1. Access the government database, The National Motor Vehicle Title Information System, which helps protect used car buyers from buying a vehicle with a salvaged or scrapped title. There could be a fee to access the report. Making this short-term investment now could cost less on the front end, as opposed to investing a sum of your hard earnings to what could be a sinking ship (or in your case a vehicle) on the back end.
2. Examine the NICB (National Insurance Crime Bureau) report for free to determine if the vehicle has been classified as stolen or salvage.
3. Retrieve a vehicle history report from AutoCheck.com. Reports from range from $29.99 to $59.99. Reports from CarFax costs more.
4. Check for water damage. Look underneath the carpet. Check for a water ring around the sunroof. Look for rust underneath the seats and in the glove box. Also check for any odd odors. These could be signs of a food-damaged vehicle.
5. Check under the hood and underneath the vehicle for mud or rust.
6. Take the vehicle to a reputable new-vehicle dealership for an examination, checking the electrical wiring, too. It’s actually worth paying from $100 to $200 to have the vehicle thoroughly inspected by a new-vehicle franchised dealer, before sealing the deal.
Source: Tips Provided By JeffCars.com and SiriusXM's "Auto Trends with JeffCars.com."
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When buying a used vehicle, it’s essential to be aware of the risks associated with flood-damaged cars, especially in the aftermath of hurricanes or heavy storms. Flood damage can significantly affect a vehicle's safety and reliability, often causing electrical and mechanical issues that may not be immediately visible. JeffCars.com provides crucial tips for potential buyers to avoid these risks, such as checking the vehicle's history, looking for signs of water damage, and having a trusted mechanic inspect the car.
If you're in the market for used vehicles, particularly from large inventories like fleetsworld , it’s even more important to follow these precautions to ensure you’re getting a safe and well-maintained vehicle. Be sure to do your research to avoid the costly mistake of purchasing a flood-damaged car.
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