Join Lyle at C&S Corvettes talk about five salvage flood car facts. Things you should know! www.CorvettePartsCenter.com #corvettes #Corvette #carfax #flood #salvage #salvagecars #floodedcars #hurricane
I am an ASE CMAT (Retired) and I was hired by a company in 2015 to inspect vehicles for UBER to be allowed in Portland, OR. Out of the 5000 i inspected, there were about 100 that had been underwater. The best telltale sign that flags it as being underwater is the aluminum, especially the alternator. I found that if it was under fresh water, the aluminum will have light white corrosion on it. If it was under salt water, the aluminum will start to flake. Why the Alternator? It is not painted and sooner or later, no mater how well it is detailed, the corrosion will come back. Another sign is the electrical connectors that have power, yet are not connected to anything, they will turn a light blue. Another; look at the steel supports under the dash, there should be no rust. Excellent video Lyle! 5 STARS!
I'm the original owner of a 2010 grand sport. It has 17k miles and is stored under a car cover. It has never been under water and never seen winter and it still has white oxidation on the alternator.
I am a auto inspector for a major lease company in NY. As for Carfax it is correct 40% of the time, MANY cars come in with damage and a clean Carfax. ALWAYS, ALWAYS get an independent inspection on ANY used car.
Looked at a 95 last year it was a convertible It was a nice looking car , I would have purchased it until I ran a Car fax It came up as a salvage vehicle , it was totaled when it was one year old in Michigan . I am in Ohio tell the owner this he shows me an Ohio title that has no "salvage" brand on it I believe that the car was moved from Michigan to Ohio years ago to "wash" the title to remove the salvage brand . Also informed by my bank they would not finance a salvage vehicle and my insurance company would not insure it Just beware !!! Thanks Lyle
It takes more than just moving the car to clear a salvage title. That stink follows the thing everywhere it goes unless the owner pulls some legal shenanigans.
Also a problem with cars from the rust belt. Many of the electrical connections under the hood and other heavily exposed areas around a car will develop poor connections and bad grounds. These turn into intermittent problems and drained batteries.
#5 is for sure the scariest scenario. I had a buddy who only bought salvage title cars - until he got that one that was a never ending dip into his pocket for continuous repairs.. 🤣
I recall the infamous 'Agnes flood of '72' up here in the northeast. We had to deal with flood vehicles then, and while it was 'fresh water', it was water from the rivers and it was full of untrafine silt that got into everything everywhere in cars. Unfortunately, when the waters receded the flood mud stayed behind and remained moist for a long time, not to mention the flood occured in June of that year. Add in the effects of a hot, humid summer.
I bought a salvage 2017 Focus ST in 2022 with 67,000 miles in Michigan, guy did an excellent rebuild, paid cash so I can't comment if getting a loan is a problem and no problem getting full coverage, BUT! A month later I got t-boned, insurance would only pay out 70% of non-salvage
Great video Lyle. I would never buy a car with a salvage/rebuilt/flood title. But interesting to watch this. My 2002 Lexus ES300 was “totaled” on paper last December. Some dude flying through a parking lot lane and hit my bumper. Damage estimate was about $5,500 and My insurance company Liberty Mutual paid for the damages but they called it a total loss and I got to keep my car. This is in NY One day when Im finally getting ready to buy a C6 I’m going to look up my VIN on my Lexus and see what it shows. Kinda of a mute point now because I never plan on selling my Lexus and it will be with me for 10+ years well into retirement
I have never purchased a vehicle with a salvaged title. I was quite surprised to hear that a salvage titled car is only worth 1/2 in the insurance companies eyes. Thanks for the info Lyle!!
How about doing a segment on how a mechanic inspects a flood car. Could a person do a wiring harness swap and have peace of mind or is it also the connecting points still gonna cause problems?
I bought my 01 C5 convertible with a salvage title almost a year ago. It was involved in a minor wreck that did some body damage but no frame damage. It was 85 percent repaired when I bought it from a close relative. I saw pictures of the car before the body work was done and felt comfortable taking a risk on it. The inspection process for a rebuilt title was really easy, the inspector was more interested in the paperwork being right than anything. I only have liability insurance on the car because like you said insurance will only pay a fraction of the cars worth if it gets totalled again.
@@banditdarval9401 it doesn't really bother me that it's not perfect. It gives me the freedom to modify the car and have more fun with it without feeling guilty about messing up a pristine example.
Thanks Lyle! I've never thought about buying a salvage car, this convinced me not to even think about it. Hope, you and everyone back there are getting back to some type of normal.
I’ve had 3, C4 Corvettes. My second one was purchased new in 1994 and in 1999 or 2000, there was a Hurricane that hit us, lightly, in Palm Beach County, and my beautiful vette went sailing down a flooded street I stupidly drove into at the height of the storm. It stopped running and a couple of teens helped me push it into a dry driveway. It wouldn’t start and the next day, after sleeping in it, I had it towed to the Chevy dealer from which I purchased it. A week later it was good as new, for $2500.00. I didn’t call the insurance company because I was embarrassed by my stupidity and didn’t want my coverage to be canceled or the price raised. I figure the optispark was replaced or refurbished. I didn’t have any problems with the car and my wife sold it about ten years later during a time I was ill and not driving. So, I figure if a person gets their car taken care of as quickly as I did, they probably wouldn’t have a tremendous problem (if it was like mine, flooded by fresh water).
Great information. I appreciate all your informative videos. I have a question concerning my 2005 C6 Corvette. I purchased it 2 years ago with 52k miles and clean title, 2 previous SC owners. I wrecked it Nov 2021 and my insurance adjuster estimated the damage to be under $9,000. I took the car to a very reputable Chevrolet Dealership bodyshop with certified Corvette specialist and he assessed the damage to be closer to $11,000. My insurance agreed to cover the additional damage findings and I left the car with the bodyshop. By the time the shop was finished repairing my car, the cost was just under $14,000 which they had communicated and had approval from my insurance company. I only paid $21,000 for the car so I was a little puzzled why the insurance company didn't total it. My question for you is, how much can I expect the value to be diminished since its been repaired? Considering it was completed by a certified shop with warranty and I have invoices noting all the parts that were replaced. I know you can't give an answer with certainty without physically inspecting the car but if it inspects well by a potential buyer and I have the documentation verifying proper repairs, what's your opinion? Thank you in advance. Mitch P.
Thanks, Lyle! Very helpful advices to the Vettes owners, and also to all cars and trucks owners out there!! Do you do "bring your own mechanic" service too?
@@lyleaulwurm9486 I was curiously asking whether you do the service where people ask you to go with them checking out the vehicle before they purchase. It's like "bring your own mechanic.."
Look at what happened with Hurricane Sandy flood cars back in 2012-2013. They got spread all over the country. There is a ton of info and video about what happened that a Google search brings up. I expect the same to happen here with hurricane Ian. Basically insurance companies and auto auctions and dealers all end up pointing the finger at each other. And in some states there might even be some funny business that goes on with titles even after an insurance company has branded the title a flood car. And titles don't always get branded flood by the insurance companies even though they were.
Could you do a video on gm buyback cars? I almost bought a 17 grand sport. Would it be worth paying 15k less than what its worth or do you still have the same issue with all salvage cars?
Only thing a flood car is good for is, Body parts, engine-trans for rebuilding. Or to build out for a racecar that wont need all the power computer stuff.
I think we need laws in place to track cars better. Like registration histories available. Yes keep past owners privacy but still show where the car was reg. and if a salvage title, state why......
Laws are in place and enforced to do exactly that, and if a vehicle loss has been paid for by an insurance company then it becomes part of the permanent history of the car. If it gets repaired out-of-pocket and no one is the wiser...that is when you see people getting stuck with flood cars. Lyle
You should pass along fact 6. Insurace co's used the term flood damage to mean the car was damaged by water in some way. This doesnt necessarily mean the car was surmersed in water. Heres a real world example. 02 mercedes e430 sold on coparts for 7600$ as a flood damaged car, and a crank no start. no visible signs of water damages inside or out of the car. car had only body damage listed on the salvage certificate - these was a scrape in the pasanger door below the molding. So why was the car totalled? The car was splashed in the grill with water and the air intake is right there! Hydrolocked and twisted #1 rod. sold for 7600$. The buyer saw a brake switch failure code on the scan and thought and easy fix. I went to buy the car, checked it out and showed him the engine couldnt be turned with a 4' bar, air filter was coming apart where the water wet it. I thought he was going to cry. I offrred 1500$ snd he sold it to me, a 5000$ loss for him. The insurance co should have checked engine damage on the salvage certificate, and deceived that poor guy.
I can beat it! We bought a C5 Corvette from Copart with flood damage (clearly flooded inside). when the car arrived here, the hood wouldn't open...we found the cables for the hood latch had been cut because someone had removed the LS1 from the car and dumped (literally) a 6 cylinder Dodge engine in the hole to make the car sit level. No recourse for any of us, as the buyer assumes 100% of the risk when buying salvage. Lyle
Incorrect information already at 1:40 seconds. The title wont always be branded "salvage". In most states when the car is rebuild and inspected it gets branded as "rebuilt". Misinformation number 2 at 2:50. They dont pay you 50% or less because its a rebuilt title. There is normally a percentage less that you are paid but that is on average 10-20%. But lets not forget you shouldnt be paying full MSRP for the rebuilt car to begin with so basically you should be paying 20% less to begin with so getting 20% less should something happen to the car is only fair. Did you know that ZERO repairs are held to any standard. So your point 3 has NOTHING to do with it being rebuilt or not. I do agree that flood cars CAN be a timebomb. Some are HORROR stories and some are not that bad at all and the real issue is that there is no way to tell which one you have until time passes. All this is also coming from being in the body shop business for 30 years and having a family body shop that has been going for 50 years. So I know a thing or 2 about it since I have dealt with it my whole life. It really bugs me when people talk about things like they REALLY know them and try to inform other people, but in reality they are going off fringe information or in some cases completely false information that was passed on from someone who didnt know what they were talking about either.
Well in my state the title is salvage and maybe in his state too. not so much now but rebuilt C7 corvettes were being sold for greater or equal to their MSRP and maybe not 50 percent but I need to know the insurance company that is paying only 10-20% less value for rebuilt or salvage car when they get totaled.
Excellent video. Please do a video on salvaged vettes that have been through a fire. I've got two that made it through fire. One is salvaged and made it through 2 fires. You mentioned carfax. Just doesn't tell the whole story.
