A flood vehicle will appear as having flood damage on a car report. This detracts from the overall value of the car, as electrical systems and even the car frame are considered compromised by water. Anyone selling a car with flood damage must be upfront with potential buyers if asked about its past history. To successfully sell a flood damaged vehicle, you will need to take some extra steps to ensure a sale.
Log on to the NADA Guides website and enter your zip code, car make and model, along with the applicable features, to find a "rough trade in value."
Subtract at least 20 percent from this value due to the flood damage of your car. Rebuilt cars sell for 10 to 20 percent less than fair market value, and junk cars sell for 40 to 60 percent less than their fair value, so 20 percent is a reasonable point to start valuing the car.
Obtain an extended car warranty from a reputable company like Smart Auto Warranty that is transferable, so the new owners have reassurance that they are protected if something goes wrong with the car. Use this as a selling point in your ad.
List the car for sale at the value price either on Craigslist or in your local paper. Note in the ad that the vehicle has flood damage and sell the car's main points. For instance, if it is four wheel drive, note this. If it has low mileage, add this to your advertisement.
Take inquiries for the vehicle and explain the extent of the damage if potential buyers ask about it. When you show the vehicle, point out the damage and repair process for rehabilitating the car. Be specific in your explanations as this will help to alleviate the fears of your buyers.
Contact a car dealer and offer the car for sale "as is" for a decent price as a last resort, if you have no success selling the vehicle privately.
