Manheim believes thousands of water-damaged vehicles will enter into the used car market in the coming weeks.
“Many cars will be insurance write-offs, but we already know that some less-damaged vehicles are already being offered as part exchanges against new and used vehicle sales,” said Alan Cureton, Manheim’s dealer sales director.
“We urge dealer staff to be extra vigilant when valuing these part-exchanges rather than risking a mistake that could cost them dearly,” he added.
Cureton also recommends that dealers re-assess any vehicles that were appraised in deals done prior to the floods, but where the new car hasn’t yet been delivered to ensure they are also not affected.
“There are plenty of tell-tale signs which dealers can use to identify problem vehicles but it’s up to the dealer to make the effort to spot them,” added Cureton.