Another year, another major storm in the form of Hurricane Sandy, and an increased risk of flooded used cars flooding the marketplace.
That prompted me to write about Hurricane Sandy and flooded used cars. There are scores and scores of dishonest people who are going to get paid for their flooded-out used cars and then turn around and try to sell them.
Insurers really need to get a better handle on this problem. My modest proposal would be to have a federal requirement that any used car deemed a total loss for flood reasons should be destroyed.
Forget salvaging parts of them for scrap. The entire flooded car simply needs to be destroyed so there is no risk of the parts from them showing up in the marketplace and eventually causing catastrophic failures.
What do you think? What are going to be the best steps we can take to avoid the problems of flooded used cars being sold on the open market as perfectly fine used cars? Take a moment and comment below.