What happens to cars swamped by Sandy?
Black Book managing editor weighs in
- Duration 4:20
- Date Nov 1, 2012
Black Book managing editor weighs in
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And we keep you updated on that what this is something you see during flooding -- wherever you live.
In the country but -- there -- an overwhelming number of cars submerged under water a big problem for owners.
At a time that's really so tough for so many people were showing you just a few here.
But there are quite frankly too many submerged cars to count across the storm -- some say thousands and thousands of cars.
Are affected by all of this flooding all this bad weather so what happens to all these vehicles.
-- -- in some areas.
That water is receding -- today is the vice president and managing editor for black -- -- my new black but because it tells what our cars are worse than we Neeson and that is -- -- things that they deal.
So Ricky -- what happens to all these cars.
Thanks for having -- I appreciate it.
It's an interesting thing is for what's gonna happen if you go back and think about Katrina.
And Katrina was a pretty devastating storm but I don't thing nears widespread is what -- he's going to be Katrina had about 640000.
Cars that were destroyed.
So we just looking at more.
If we say tens of thousands and maybe but I just reported is a little bit well if you're saying is going to be higher than Katrina.
Actually think he could be higher when you look at the population area and and how lot of -- -- areas that there was damage.
Well so -- a -- 640000.
Cars it what what happened to them where did they all go out.
Well a lot of those cars were actually destroyed because of the the history that had flooding and and there they're not usable anymore so.
And actually after Katrina there was rules and regulations -- changed as far as reporting and tracking these vehicles.
And they can't be put back on the road so they'll they'll be destroyed so people have to have replacement course.
So let me just ask you a little bit about the cars that are being destroyed are -- in the entire car has to be scrapped -- parts can be saved.
Nothing can be resold from these cars.
I'm sure there will be some parts that will be resold but basically the need to be destroyed yes that can be driving cars on the road.
I was seeing in some past hurricanes.
There have been some big stories where some of these cars have been resold and some folks actually bought cars that they did not know.
Wearing flags is there any way Rick heated towel if you know several -- -- -- line you're Lincoln and used car and it's actually a car that has been.
In a flat like the one that sandy has produced -- -- here on the East Coast.
-- yes there is there -- tools out there.
History reports vehicle history reports a couple of companies that are pretty widespread and -- well known or car facts and auto -- And they actual report the history and if there's any damage.
Any insurance claim on that particular -- it -- recorded within the -- number of that particular vehicle.
Now if something -- to slip through the that the cracks so to say.
I think during this time as there's vehicles come back can be traded in the dealers will look at that history important that shows up -- And they'll look at where this particular vehicle was -- in this timeframe.
And it fits in one of these affected areas I think that -- there will actually look a little closer.
-- a little closer inspection to see if there is any damage before they make the call and is this a safe car trading in and and put back on their lots.
You repeated for -- -- usually use our where we get all the data for car sales.
And I'm curious where you see the biggest impact potentially with so many cars and the -- -- saying hundreds of thousands does that potentially.
-- and by this storm what do you think impacts gonna be economically.
By the new car sales levels for October sure will -- off a little bit because of those 34 days that that there were any cells that occurred.
But going forward.
There's a tremendous opportunity to increase some of the new car sales.
There's an opportunity in the used car market where those values will actually increase in -- because of the extra need for replacement vehicles.
That are used cars as well because everybody that had a car destroyed it's not gonna go back to a new car.
They may go back to -- used car.
And -- is real quick who's responsible for the cars at better and better flooded our owners responsible to get them off the road or does the city -- in this state.
Who who's responsible for that.
But -- got a combination of the owner working with the insurance company that will take care of that particular situation as this curious -- seems to be so many breaking really interesting information -- We appreciate your time today and look forward talking to you -- -- thank you.
Led to thank you --