CarMax Advises How to Avoid Flood-Damaged Cars
RICHMOND, Va.--(BUSINESS WIRE)-- In the wake of recent flooding caused by Hurricane Sandy, CarMax, Inc., (NYS: KMX) , the nation's largest retailer of used cars, is advising consumers on how to avoid purchasing flood-damaged vehicles. CarMax offers a helpful video to aid consumers in spotting the signs of flood damage. To see the video, visit the CarMax YouTube page.
"Consumers should be aware that some businesses and individuals may try to sell salvaged and flood-damaged cars without revealing the vehicle history," said Corri Cottingham, purchasing manager for CarMax in Hartford, Conn. "Flood-damaged cars are not structurally or mechanically sound, but 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 900 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.
CarMax, a member of the FORTUNE 500 and the S&P 500, and one of the FORTUNE2012 "100 Best Companies to Work For," is the nation's largest retailer of used cars. Headquartered in Richmond, Va., CarMax currently operates 115 used car superstores in 57 markets. The CarMax consumer offer is structured around four customer benefits: low, no-haggle prices; a broad selection; high quality vehicles; and customer-friendly service. During the twelve months ended February 29, 2012, the company retailed 408,080 used cars and sold 316,649 wholesale vehicles at our in-store auctions. For more information, access the CarMax website at www.carmax.com.
Please Note: Our buying team can provide visually compelling demonstrations on possible flood damage indicators.
KEYWORDS: United States North America Virginia
The article CarMax Advises How to Avoid Flood-Damaged Cars originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.