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Name names...Who cares, if its in the public record? Assuming you're referring to the ABC investigation and the F-350 that USAA declared a total, then sold at an auction without branding the title since they couldn't find the title? The same car, that had flood damage noted twice in its history?
You want to slam USAA here, fine, but anyone that didn't know that truck was a flood car had it coming.
I was only responding to your question / comment . . . "I've never seen an insurance agent sell a car."
No attempt whatsoever to slam any one Insurance Company as there is plenty of blame to go around. Sadly, the incident you mentioned is only one of hundreds, possibly thousands. When an Insurance Agent / Company conveniently forgets to report flood damage, the vehicle escapes the Salvage Title status as well as the negative reports on CarFax and the other reporting sites.
same thing that happened to all the cars that were flooded in katrina... They'll be totaled by insurance, wind up at auction, shops/people will buy them for next to nothing, "repair" them, and try to sell them at what seems like a really good deal to the general public who will end up getting screwed over.
I am probably one of the few, but certain cars just bring a smile to my face without even realizing it. My wife gets mad because she says that not even she can put a smile on my face, lol. Anyway, I love cars, particularly older ones. I would love to have a warehouse full of these old cars that I was able to save from the scrap yard that have stories behind them. So with that being said, if I ever purchased a car that was previously in a flood I would have no intention of selling it. I would be on the hunt for Classics, GT500's, Hellcats, or pretty much anything else I would never be able to afford as long as I could get them for cheap. I would love to have a garage full of non functioning high end cars that I can mess around with, but that's just me.
I agree that there are too many people that are trying to make a quick buck but there are also others that enjoy a fun project that would love to save some of these from the scrap heap. I tend to see the potential in everything.
They should all be turned into scrap metal. But unscrupulous people will buy them cheap and then do enough to get them running and try to sell them again either here in USA or in other countries.
Autonation has 17 dealerships in that Houston area (not sure how many were affected). CEO said on CNBC all the damaged cars will be scrapped, insurance will pay the losses. They are going to bring in inventory from all over the nation to replenish the lost stock as they expect strong car sales in that area (due to everyone losing their car/truck).
So with that being said, if I ever purchased a car that was previously in a flood I would have no intention of selling it. I would be on the hunt for Classics, GT500's, Hellcats, or pretty much anything else I would never be able to afford as long as I could get them for cheap. I would love to have a garage full of non functioning high end cars that I can mess around with, but that's just me.
The part you are missing is the new cars have computers for everything so one short can wipe out several computers in one shot! I think long term storage will give you a building full of mold!
Your buy/hold strategy might work for hard parts (fenders/glass/engine parts) but as far as "working on them" you will need a lot of computer software and experience!
The part you are missing is the new cars have computers for everything so one short can wipe out several computers in one shot! I think long term storage will give you a building full of mold!
Your buy/hold strategy might work for hard parts (fenders/glass/engine parts) but as far as "working on them" you will need a lot of computer software and experience!
Even if they never run again, id be ok with them taking up space in my garage. I am a little weird when it comes to cars, I wouldn't want them for parts. Id thoroughly clean them up and just let them sit there to give me something nice to look at when I walk through the garage. I'm definitely not a computer guy and I hate dealing with major electrical repair but I hate seeing nice cars go to waste.
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