One of the many devastations of the floods that accompanied Hurricane Harvey is the destruction of a up to a million vehicles worth as much as $4.9 billion.
The National Insurance Crime Bureau (NICB) has issued a news release warning consumers that vehicles flooded by Hurricane Harvey may soon be appearing for sale around the nation. By definition, a flood vehicle has been completely or partially submerged in water to the extent that its body, engine, transmission or other mechanical component parts have been damaged. If the vehicle is so damaged that it is no longer operable, the driver’s insurance company settles the claim by buying the vehicle and selling it as a “salvage” at an auto auction.
Dishonest and unscrupulous car dealers buy the vehicles, dry and clean them, yet leave plenty of hidden flood damage. They then transport the vehicles to states unaffected by the storm or natural disaster and sell them as used vehicles to unsuspecting buyers. These dishonest dealers will not disclose the damage on the vehicle’s title as they are required, which is a crime called “title washing.” The vehicles are then sold with the hidden damage. More facts about flooded cars can he found here.
The NICB’s VINCheck is a free public service that allows car buyers to see whether a vehicle has ever been declared as “salvage” or a total loss by an NICB member that participates in the program.