Water-damaged cars to flood market
Every year the used car market is swamped with 237,000 cars written off and subsequently repaired, according to hpi.
Buyers have also been warned to expect a torrent of flood damaged cars to pour into the market in the coming months.
It is legal to repair and resell Category C and D write offs. However, Category A and B write offs are also being fixed up and sold on.
When it comes to flood damaged cars, the danger is that car owners will dry out the interior and then innocently try to sell the car, not knowing that certain engine components – brakes, starter motors and catalytic converters – need to be replaced as they can fail at any point.
Neil Hodson, deputy managing director of cap hpi, said, ‘To avoid landing yourself with a nightmare on wheels rather than your dream car, we urge you to conduct a vehicle history check that will tell you if the car has been declared an insurance write-off and importantly, what category write-off it is.
‘It’s really important to understand that not all written off cars should be avoided. Category C and D write-offs that have been professionally repaired and declared roadworthy can present a bargain for buyers. In a repaired state, cap Black Book estimates a category write-off vehicle is normally worth 50%-70% of its pre-accident value, so if you’ve conduced an hpi check and know the car has history, you will be armed to negotiate a good deal.
‘Furthermore, with a growing number of flood damaged cars that haven’t been subject to an insurance claim returning to the roads in the coming months, buyers should get an independent inspection from an expert engineer who will check for faults and damage to expose any problems before an offer is made.’
Motorists can check their car’s history here.