Financial expert Clark Howard has a warning for anyone planning on buying a used car over the next few months. Even though Clark is a money guy, the warning isn’t about car prices – even though we know how high they are right now. There’s something shady sellers might try to hide from you. And Florida car buyers are especially prone to this one.
We are in the prime of hurricane season. Florida has been lucky. Hurricane Sam is staying out over the water. Hurricane Ida missed us and hit Louisiana. Sure the Tampa area has had some heavy rain. But the storms we’ve seen are nothing like what other parts of the country have had to deal with. So what does that have to do with buying a used car in 2021?
Because of the wild weather in other states, vehicles that have flood damage are finding their way on to the Florida used car marketplace. You probably won’t be able to tell the difference. The cars are cleaned up and titles go through something in the industry called “title washing.” The unfortunate part is it’s legal because some other state laws let this happen. Clark Howard warns car buyers that you can’t rely on what the seller is saying.
If a car looks like it’s priced below similar models, you should be especially careful. The price might be low for a reason. Howard says vehicles that have been flood damaged rot much faster and might be unsafe.
So how do you avoid one of these cars?
Clark Howard says have an independent mechanic you trust do a full inspection. He says mechanics have a trained eye to spot vehicles that have gone through a flood. It may cost you a few dollars now, but it could save you thousands down the line. But don’t rely on those car reports or the seller’s word alone. [Source: Clark Howard]
7 New Florida Laws Going Into Effect Friday
Most of the big new laws every year go into effect January 1 or July 1, but there are a handful of big regulations going into effect October 1. [Source: CBS Miami]
More of Geno’s stories from this week…
