With any significant flooding event many vehicles get inundated with water. Whether it’s for a few hours or several days, exposure to water is unhealthy for a vehicle’s electronic components. With the count of damaged vehicles from Sandy already at 230,000—the risk of flood vehicles entering the commerce stream as used vehicles is high. Even as programs like NICB’s VINCheck and the National Motor Vehicle Title Information System have come online since Hurricane Katrina to prevent this sort of fraud, the possibility still exists for individuals to take flooded vehicles and resell them to unsuspecting consumers.
While the threat from this kind of scam is very real, consumers can protect themselves by following these tips.