Signs and Disclosures of Flooded Vehicles.
After Texas storm.
When it comes to appraising used car you should have to leave no stone unturned. When a customer wanted to trade low-mileage 2013 Toyota Camry at one of the dealerships, they immediately looked for signs of water damage, and there is was, underneath the back seat. Turns out the Corolla had been either partially or fully submerged during the Texas storms. Every dealership has to be in constant vigilance, especially after the storm, when people trying to turn in a flooded vehicle without disclosing the flood damage.
What to look for.
The National Insurance Crime Bureau.
The National Insurance Crime Bureau maintains a registry of vehicles for which insurance claims have been paid. It is free and available to everyone at nicb.org.
Fred Lohmann, director of operations for the bureau’s southwest region, said almost 10,000 vehicles were damaged by the storms in 2015. That is a fraction of the 640,000 vehicles damaged after Hurricane Katrina hit in 2015. But it is enough to keep everyone on their toes. Physical inspections are now double the time, they do not take any chances and look everywhere in every car, leaving no stone unturned.
