In the wake of recent flooding caused by Hurricane Sandy, CarMax, Inc., (NYSE: 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 dampness2) Be suspicious of an older car with a brand new interior or carpeting3) Check for rust under the brake or gas pedals4) Look for dirt or rust under the dashboard and floor mats5) Inspect the bolts and screws under the seats for evidence of rust6) Check the undercarriage for excessive rust7) Check inside the trunk under the carpet and in the spare tire well area for rust, dirt or sand8) Look for corrosion, water marks, or a thin brown line on the exterior of the vehicle9) Check to see if the electrical system works10) 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 vehicleCarMax 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. About CarMax CarMax, a member of the FORTUNE 500 and the S&P 500, and one of the FORTUNE 2012 “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.
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