Beware of Flooded Vehicle Scams and Frauds
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Title : Beware of Flooded Vehicle Scams and Frauds
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Title : Beware of Flooded Vehicle Scams and Frauds
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news-today.world | The Houston area, where the Car Pro Show has been heard for over a dozen years has experienced a catastrophic hurricane. The large amounts of rain caused flash flooding, destruction, death, and countless numbers of flooded cars. From previous floods and hurricanes, we know that these cars will resurface all over the country in the months and years ahead.
According to vehicle history report provider CarFax, it’s not uncommon for 50 percent of the cars affected by floods to return to service, some requiring only minor repairs, others a full overhaul.
The most severely damaged vehicles, those declared salvaged by their insurance carriers, can put used car shoppers at risk, as less reputable dealers, and some private sellers, try to sell them without full disclosure, or through outright fraud.
These cars are typically unloaded at auctions to be used for parts, or exported to countries with lower safety standards than the U.S. They can, however, be repaired and issued clearly marked “salvage” titles that must remain with them for the rest of their operational lives.
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According to vehicle history report provider CarFax, it’s not uncommon for 50 percent of the cars affected by floods to return to service, some requiring only minor repairs, others a full overhaul.
The most severely damaged vehicles, those declared salvaged by their insurance carriers, can put used car shoppers at risk, as less reputable dealers, and some private sellers, try to sell them without full disclosure, or through outright fraud.
These cars are typically unloaded at auctions to be used for parts, or exported to countries with lower safety standards than the U.S. They can, however, be repaired and issued clearly marked “salvage” titles that must remain with them for the rest of their operational lives.
More
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You are now reading the article Beware of Flooded Vehicle Scams and Frauds With link address https://newstoday-ok.blogspot.com/2017/09/beware-of-flooded-vehicle-scams-and.html