It has been weeks since Hurricane Sandy hit the East Coast,
and people are still picking up the pieces and putting their lives back
together. One of the biggest problems facing these affected areas is lack of
transportation. Public transit is still spotty, and many people’s cars were
flooded or completely swept out to sea. Unfortunately, some private car sellers
are taking advantage of a desperate situation and selling flooded cars to
unsuspecting buyers without disclosing the car’s condition.
Car dealerships are required to disclose any flood damage on
their used car inventory, but loopholes in state laws often allow private
sellers to sell a spruced-up flooded car without saying a word. According to
ABC News,
private sellers in Maryland who sell less than 5 cars per year are not required
to disclose flood damage on the cars they sell. Now more than ever, it is
important to know the history of the car you are planning to buy, especially if
it is through a private seller.
We want to emphasize that private seller does not equal a
crook. There are many great private sellers, and the good ones will have no
problem producing a Carfax report. What we want is for our readers to be a
little more skeptical and take measures to protect themselves. This is one of
the reasons why the Approved Loan Store only works within car dealerships
instead of just giving a loan for someone to purchase from a private dealer. If
we just gave our customers a personal loan to buy a car from John Doe on
Craigslist, we would have no way to verify that the car they are purchasing
wasn’t previously in an accident or flooded or just a lemon. Now more than
ever, it is simply safer to go through a program like Approved Loan Store than
go for that private sale deal that is too good to be true.
Are you looking to get into a new or used vehicle? Approved Loan Store can help! Good credit, bad credit, no credit, we want to get you the
right car at terms you can afford! Fill out our secure online auto loan
application here, and get the latest auto news and buying tips by liking
Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and
subscribing to Approved Loan Store on YouTube!
Image courtesy of winnond / FreeDigitalPhotos.net
