Saturday, September 26, 2009

CarMax Advises How to Avoid Flood-Damaged Cars

TT Note: It's always good to review the tips on how not to purchase a flood damaged car. Thought this was a good reminder.

(BUSINESS WIRE)--In the wake of recent flooding, CarMax, Inc., (NYSE: KMX), the nation’s largest retailer of used cars, is advising consumers on how to avoid purchasing flood-damaged vehicles.

“Consumers should be aware that some businesses and individuals may try to sell salvaged and flood-damaged cars without revealing the vehicle history,” said Jason Day, Atlanta region vice president of purchasing for CarMax. “Flood-damaged cars that are not structurally or mechanically sound could be repaired, re-titled, and sold to unsuspecting buyers.”

CarMax’s purchasing team offers these ten tips for identifying a vehicle with possible flood damage. If any of these signs are identified, ask further questions to determine if flood damage occurred:

1) Check for a moldy smell inside the car and feel the carpet for dampness

2) Be suspicious of an older car with a brand new interior or carpeting

3) Check for rust under the brake or gas pedals

4) Look for dirt or rust under the dashboard and floor mats

5) Inspect the bolts and screws under the seats for evidence of rust

6) Check the undercarriage for excessive rust

7) Check inside the trunk under the carpet and in the spare tire well area for rust, dirt or sand

8) Look for corrosion, water marks, or a thin brown line on the exterior of the vehicle

9) Check to see if the electrical system works

10) Check the VIN number with AutoCheck or Carfax to see whether a flood claim has been filed or a salvage title has been issued on the vehicle

CarMax provides a free AutoCheck vehicle history report for every used vehicle. CarMax’s nationwide team of more than 800 car-buyers is trained to detect whether a car has flood damage or has been in a major accident. CarMax will not retail any car that has flood or frame damage or an odometer or title discrepancy.

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