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URL:  http://boards.fool.com/just-like-post-katrina-30349976.aspx

Subject:  Just Like Post-Katrina Date:  10/30/2012  2:08 PM
Author:  Milligram46 Number:  69573 of 71394

In the coming months be VERY careful buying a used car. Learn the things to look for that might imply water damage. Avoid cars titled from states like Arkansas, which are popular to ship water damaged cars, do a crappy job of restoration, and then retitle them as new - not salvaged.

If you don't know what to look for, educate yourself, and do a used car inspection. $200 well spent - even if you're looking at a $3,000 car. If anything seems out of the ordinary, especially with the title, run, run for your life.

What happens is the cars are claimed on insurance, the insurance companies sell them at auction for salvage, companies with no soul buy them, do a half-assed job of restoration, retitle them in states with a new title, and then flood the market with new title used cars. The owner is stuck with odd odors, rusting interior components (that can't be seen) and hardening wiring harnesses that crumble and fail, resulting in endless electrical problems.

There are going to be a lot of flood damaged cars hitting the market.
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