Friday, August 6, 2010

Car Buyers beware of Flood Salvage Cars

After the recent hurricanes that impacted southern part of the United States, large numbers of flood salvage cars have hit the market. By flood salvage cars we mean cars that were damaged badly during the floods and are now no more useful. Lots of these cars also carry this tag because of the insurance companies; these companies who have paid the compensation or insurance amount to the original owners treat the vehicles as worthless. These cars are also referred as flood salvage cars because of the extensive water damage that it has gone through during the flood.

However, it is surprising that many individuals or people are not aware of this flood salvage cars hitting the market. Individuals or car buyers do not realize about this that they have purchase a flood salvage cars until they decide that they want to get the car they purchased insured.

Only at this particular point of time they realize or come to know that their agent has refused or said no for an insurance rate quote of such car because the insurance company has marked this particular car as flood salvage car.

Since, majority of the used cars are sold on the condition of “as is” basis the purchaser or buyer has a litter recourse after realizing that he has bought a flood salvage car. The only way left for the buyer or purchaser is that he has to get the car in the shape and condition enough to hit the road. In addition, the buyer also needs to go with a lengthy and strenuous inspection process of his car from bureau of state motor vehicle. This is compulsory for cars that have been marked as salvaged, without this you cannot take this car on the road.

1 comment:

  1. This post is very useful; it helped me with awareness of flood damaged cars so much. Keep posting.