RIP-OFF ALERT: Used car buyers can expect a glut of flood cars to hit the market in the wake of the flooding in the Southeastern United States. Clark wants to offer some tips so you can steer clear of these bum rides.
We're treading familiar ground here, actually. In the wake of Hurricane Katrina, we saw waves of flood cars coming out of Louisiana, Mississippi, Texas and other states.
Here's what to look for this time around:
Be wary of any used car that shows up as recently titled in Georgia or Alabama when you research the VIN number through
CarFax.com or a similar service.
Use the National Insurance Crime Bureau's search tool at
NICB.org to identify further identify flood cars.
Make any used car purchase subject to inspection by an independent mechanic. You can leave a deposit if you wish, but specify
in writing that the money must be returned to you if the car doesn't check out.
And as always, know what fair market value is on the used vehicle in question!