Buying Flood Cars
 

A buddy of mine who has little money in his pocket and is wanting to make more money is looking at buying brand new cars that were subjected to the storm and high waters in NY and NJ.

There are new Mercedes going for $20 grand etc.

Any of you have experience with these type of cars.
Is it a lost cause?

These cars will come with a NYS salvage tittle. That will affect resale big time, not to mention all the problems that a car with flood damage will have.

They will probably end up in Europe where less honest people will sell them without informing about what have happend to them and no warranty........

Friend of mine did it years ago, before all the electronics.
He never could get the smell out of it.
david

I work on the eastern shore of Virginia and since Sandy hit the amount of privet car transporters coming and going up and down route 13 is somewhat alarming.
You can bet your ass a large majority of those cars will be shuffled around “repaired” and slipped right back out into the public market with clear/clean titles.

Its avery iiffy place to go, not just the salvage title like mentioned ,, But if its to make money I would be careful going near cars like Mercedes. The parts are extremely expensive, specially electrical. My brother bought an old chrysler from a neighbor that was in fresh water for about 12 hrs up to the bottom of the seats. Changed a lot of parts ,changed a lot of fluids, New Trans fluid keeps turning pink, smells like a swamp after taking all apart to floor boards and running dehumidifier for days. It worked out that the car is on the road now. but that was just to help someone who couldnt afford a car. Maybe if someone really knows what there looking at they can get away with it.

Sounds like a quick way for your friend to end up with no money!

good summary


of all the cars that are salvage I would pick a flood car as the last.
especially saltwater

with todays electonics it will NEVER be right.

Anything is better than a flood car. Problems galore.

Ins. cos. automatically total them if water reaches the door handles.

Got to be all over the databases if there is a claim made. Don't know how anyone could get around that unless they never claimed the car as a loss. A good lesson to all to check the history of a used car before you buy.

The only ones that I would consider are those classic cars listed in another thread, and then only to part out. Salt water = death.

How did your " buddy " make money before ?

Selling drugs ?



Jim

No Jim, he is not a drug dealer so you not need worry about any competition:)

Like me he is a business owner looking into other income streams. My business, like his has done really well but who really wants all their eggs in one basket?

bad deal. money pits

About the only flood car I would buy would be a Model T or Model A. Something with an electrical system that has about 3 wires. Mercedes (all German cars I've worked on, anyway) are electrically challenged to begin with. That's why you don't see a lot of 20-30 year old ones on the road. The corrosion (especially salt water) and electrolysis keeps growing over time (like rust) and actually will move up the length of wires between the core of the wire and the insulation: inside where you can't see it. You are guaranteed a lifetime of stall outs, no starts, mystery blown fuses, being stranded, etc. There is a reason they total flood cars. Good for hard parts only, IMO.

Well said. Not to mention the salt water and what it more than like has done to anything metal.

Ah...the lure of easy money; it has led many a man to ruin. There is a good reason those Mercedes are selling for $20K and no quick effort will change that underlying reason. Advise your friend to keep his money and steer clear of disaster.

Thanks for all of the replies. After reading them he has pulled the plug on looking into this business.

Fesh water flood is one thing but salt water will corrode everything that is not plastic or nylon. :)

I don't look for easy money
 

Nice try ....

" Other Income Streams " ?

Honest guys who work hard for their money would not even consider
flipping storm damaged cars ... :attention




Jim

Well put Jim

Have your buddy drop his cellphone in a cup of salt water, leave it in there a couple of days, repair it and resell it. Then tell us how that works out for him.

Other income streams, example Joe business owner owns a painting company but wants to diversify so he opens a landscaping company and runs both at the same time thus creating another income stream.

no
have him keep it and have no backup
then ask hows it working for ya

Youre reference to a drug dealer probably has more merit than someone whos selling saltwater flood damaged cars

If I needed a front clip or something I would consider it but $20K for the clip would be high.

flood cars
 

have delt with a few cars and trucks that have had flood damage from sandy the wiring is just falling apart crumbling or burning up as soon as you turn the key. stay away.

Another thought. Someone will buy this and other cars and those parts will show up as replacement parts, tail light and headlight assemblies, radios, fuel tanks, you name it. These parts will probably have premature failures.

If your friend is a successful businessman, have him expand his business or open another location and he won't have to learn a new business. Jon

I went with a good friend to look at a car up state that he said was being offered(2005 GTO)at a good price,($4500),I told him that I really didn't know much about the "down under"car but something was amiss for it to be selling this cheap,..he tells me that the guy blew the engine and was unloading it quick for a down pymt on another ride,..I go with him for the ride and beer and when we arrived to look at said car the first thing I notice is the "SMELL",..punch line...the car was a Katrina relic,..you could see the water marks in the headliner!!,..yeah the engine was blown because he tried to start it with a block and gas tank full of tainted water!!,..I told the seller that we were going to carfax the vin and thats really when things got interesting!!!,...bottom line is look for obvious signs and make aware to seller that you are verifying legitimacy of vehicle,..(he paid for our gas and beer):),..P.S....carfax doesn't go back to the days of old,but if and when you are able to use it,it's purpose is priceless

I'd agree with the salt water fears. Fresh water is a safer bet. Remember, there was someone here who bought a perfectly fine 55 SLK in Atlanta for about $29k during the crash.

:pound: Well deserved!

Actually, water over the rockers will total one now. So much electrical is at floor level that they will often pop off the rocker step plates to see if there is moisture under the carpet edges. If so, it's a goner. Too much liabilty in letting those yellow wiring harnesses and connectors (air bag sensor related) get wet.

EVERY DAY there are caravans of Tractor Trailers LOADED with totaled late model vehicles heading south to MEXICO. Based on the sheer numbers observed on a daily basis, one could surmise that a % of those return as "clean" "nice used cars".

Often see flood cars for sale at local gas stations, and various parking lots CHEAP.

BUYER BEWARE!

Well I see those east coast cars are out here already in Portland Oregon and alot of them are classics, 68 camaro,63 vette,all looks great but all that salt, the sad thing is DMV sucks about fining people that alter and wash titles and its being done by USa/foreigners that may offend some but so Sorry they dont have a caring bone in their body. Just Makin $$$$$$$$$.

Any new cars in dealer inventory will have the VINS loaded in the computers by the factory which will void any warranty at any dealer, as flood or salvage vehicles. This prevents someone from getting a title in another state and trying to get warranty work at a dealer sometime in the future.

With saltwater the damage will be extensive and a money pit for someone to try to repair.

This is also the procedure for other equipment damaged in a flood, such as industrial equipment, like forklifts, etc. Happened to some Toyota Forklifts in flooded areas in the past. Same thing with some Pontiacs I was involved with in the past.