Experts have revealed what insurance companies do with the damaged cars they receive after paying compensation to their owners.
Some insurance companies have already begun express procedures for paying compensation to owners of flooded cars who had insurance against natural disasters. Of course the reason for the rush is not that insurers want to quickly pay compensation to their clientsbut what they want immediately sell at auction the sunken cars they received before how other competing insurance companies will “overtake” them, causing the prices of the “hot commodity” to drop significantly.
The publication Carandmotor.gr told who buys these flooded cars and what they do with them afterwards. And the only thing that is certain is that unsuspecting consumers will ultimately suffer. Since used car dealers, workshop or body shop owners, buy flooded cars cheaply at auctions held by companies, and then, having “combed” them (put them in relative order), they put them up for sale. And some manage to pass them off as “almost new, with low mileage.”
Buying such “cheap” cars is dangerous, since it is unknown what kind of damage was actually caused to the vehicle. And the “brand new” appearance may well deceive you.
It is best to purchase cars with a familiar (trusted) person whom you can trust. After all, the “rotten insides” of an almost brand new car can “cost a pretty penny” or even cost your life.
It’s another matter when cars are sold honestly. As can be seen in photographs published exclusively by Carandmotor.gr, the first sunken cars from the Thessaly region have already been put up for auction and those who take part will be able to submit their bids until the end of the week. The vehicles appeared to be flooded, with water either completely covering them or reaching the dashboard, leaving all switches as well as electrical and electronic systems, screens and gauges submerged.
It is very difficult to return such a car to its original condition, and, of course, the costs of repairing it are in most cases considered unprofitable. However, as mentioned above, some swindlers with skillful hands purchase them at auctions at especially low prices, since their starting price is set at only 100 euros per car, and then either slightly repair them, or pass off the stolen cars as “drowned cars.” (they counterfeit/interchange engine part numbers, etc.) and then sell them to unsuspecting consumers.
In the first case, citizens who “blindly” purchased a flooded car will very soon be faced with unpleasant and expensive repairs, and in the second case, they risk that their car will turn out to be stolen during inspection and will be confiscated. As a result, the person will have to face the police and the judiciary.
The only way for potential buyers to be sure that the used car they are interested in is not flooded from the wider area of Thessaly – this is to carry out a thorough check in an authorized garage, where the necessary tools are available and where the condition of the vehicle can be seen.