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Released: September 15, 2011
Buyer Beware: Flood-damaged vehicles will hit market soon
Source: Laura Rowley, DailyFinance.com
Diane Zielinski bought a used car for her 17-year-old son at a dealership in Quakertown, Pa., about a decade ago. She paid $3,500 for the maroon Pontiac Grand Am. Three weeks later, her son called from a dark country road at 9 p.m. He had heard a loud bang, and then engine on the car had blown apart. While Zielinski called the dealer, her son came across the website for Carfax, a nationwide database that tracks vehicle histories. He entered the Grand Am's vehicle identification number, and learned that his car had been flooded in New Jersey during Hurricane Floyd, declared a total loss, and given a salvage title. Somewhere along the line after that, a clean title had been forged.Read Full Article: Buyer Beware: Flood-damaged vehicles will hit market soon
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