11/24/2022

Damaged Vehicles Flooding the Used Car Market

Source: Fleet Management Weekly

Many parts of the U.S. saw record rainfall and damaging flooding. The National Insurance Crime Bureau (NICB) is warning consumers that vehicles flooded by these storms may soon be appearing for sale around the nation.

NICB works with its member insurance companies, law enforcement, and auto auction companies to identify the vehicles that have had an insurance claim filed. Most of the damaged vehicles are sold to parts companies who will dismantle them and re-sell usable parts that were not damaged by the flooding.

It’s important for consumers to know some criminals will attempt to sell these flood-damaged vehicles to unsuspecting buyers. Before you purchase a pre-owned vehicle, be sure to run the vehicle identification number (VIN) through NICB VINCheck.

via NICB