How wise is it to buy a flood damaged car?

I'm looking at a used car that was flood damaged. It seems to be in good repair. Is it unwise to purchase it?

Answer
“In most cases, purchasing a flood-damaged car isn’t a smart move. As the flood-damaged car was likely a total loss from a car insurance company, it means the cost of repairs was more than the value of the vehicle.
While it may seem like it is in good repair now, it’s not likely to last. A significant amount of electrical components make up a car. Water can damage these components and compromise their integrity as time goes on. Even if the vehicle is working now, it doesn’t mean that future issues won’t arise from the flood damage.
If you are set on purchasing a flood-damaged vehicle, you should have a mechanic you trust examine it. They may be able to identify any potential problems that exist.
Additionally, keep in mind that car insurance rates will be significantly more expensive on a salvaged car than a used car with a clear title.
If your mechanic is confident that the car is a great value buy, make sure you have the right insurance to cover it. Download the Jerry app to compare quotes from dozens of insurers so you get the best rate for your bargain vehicle.”
Emily Maracle
Answered on Oct 08, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.
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