There are going to be a boat load of flood dammaged cars up and down the east coast thanks to sandy. A couple questions that come to mind
A bit of all 3?
I saw a pic on FB of a fleet of NYC P71 taxies window deep in flood waters.
In reply to Ian F:
Could have been a lot of P72s, but its a moot point. Their needed cars.
dean1484 wrote: boat load of flood dammaged cars
I see what you did there.
Probably be the same effect any storm has on the market. Scummy dealers trying to sell flood damaged cars to unsuspecting buyers in markets not affected by the storm. More used parts for legit sellers at used part places.
I don't know it's going to have the same effect that Katrina did. The damage from Sandy was horrific to be sure, but we'll have to see if there were as many cars submerged. Most of the images I've seen so far were underground parking lots that got submerged.
I work in auto insurance claims, with a heavy insured concentration on the east coast. I'm one of the people responsible for our monitoring/tracking and coordinating the response to auto claims. I'll be able to tell you in just a few days how bad it really is...
about time those taxi's got washed out....
Sandy is going to flood the market...
The "watch out" articles are already starting to appear.
http://consumerist.com/2012/10/30/5-warning-signs-that-youre-buying-a-flood-damaged-car/
Flood it. 
Klayfish wrote: I don't know it's going to have the same effect that Katrina did. The damage from Sandy was horrific to be sure, but we'll have to see if there were as many cars submerged. Most of the images I've seen so far were underground parking lots that got submerged. I work in auto insurance claims, with a heavy insured concentration on the east coast. I'm one of the people responsible for our monitoring/tracking and coordinating the response to auto claims. I'll be able to tell you in just a few days how bad it really is...
Please get back to us I am really intrested your take on things!!!
Ian F wrote: A bit of all 3? I saw a pic on FB of a fleet of NYC P71 taxies window deep in flood waters.
I saw that picture too. My immediatee thought was there are going to be a lot of used cars for sale repainted with "Yellow Primer".
Now I'll see who else is old to remember where that joke came from.
In reply to Type Q:
A friend lost a brand new Mustang convertible, along with his house.
There are a bunch of very high end dealers in NYC who have lost their entire inventory and all the customer cars. Insurance nightmare. Wanna buy a cheap Ferrari?
cwh wrote: There are a bunch of very high end dealers in NYC who have lost their entire inventory and all the customer cars. Insurance nightmare. Wanna buy a cheap Ferrari?
Yes. Absolutely.
In reply to Type Q: The Greatest Movie Of All Time "Used CARS"
In reply to Woody:Blew up his beautiful new car, ...and wife.
NYC is phasing out the P71/P72s so no real loss there, I would think.
A few years ago, when folks on here first noticed that cars for under $1,000 were no longer easy to find I figured it was because of things like Katrina and the Midwestern floods. Others said, no, it was Cash for Clunkers. I think it will drive prices on CERTAIN types of used cars up(like "bread and butter" sedans and minivans), and depending on the dealers involved, perhaps sports/sporty cars too.
I think it is a stacking of several things that have been driving up the price of beaters.
Down in the south we also have a loss factor of vehicles going over the boarder as well. I can go to a particular yard and every V-8 has been pulled from the trucks and they will be lined up on pallets with different towns in Mexico they are going to.
I really don't see an end to the trend for quite a while. Until there is a bunch of easy money and the masses can buy new cars at will again, it will probably stay high.
Thousands of cars sank, so now thousands of owners NEED new cars. As such, they're running to dealers.... who also don't have any cars. Those dealers are trying desperately to get any kind of inventory out of auctions, raising prices there. High auction prices = high dealer prices throughout the east coast.
That's my guess, anyway.
former520 wrote: I think it is a stacking of several things that have been driving up the price of beaters. 1. People lost money/ confidence in last housing crunch and stopped buying as many new cars 2. Disasters - Katrina, Midwest Floods, Tornadoes 3. Cars just flat lasting longer and more people realizing the value 4. Profit ??? 5. Cars cost more up front and on a same depreciation curve as prior, the cost will be higher due to starting point
In california the government will pay $1200 for any registered car over a vertain age that fails smog and sell it to pick and pull, so its unusual to see a running car under $1500 ever anymore. There doesn't seen to be a shortage in the $2k-$5k range though.
dean1484 wrote:Klayfish wrote: I don't know it's going to have the same effect that Katrina did. The damage from Sandy was horrific to be sure, but we'll have to see if there were as many cars submerged. Most of the images I've seen so far were underground parking lots that got submerged. I work in auto insurance claims, with a heavy insured concentration on the east coast. I'm one of the people responsible for our monitoring/tracking and coordinating the response to auto claims. I'll be able to tell you in just a few days how bad it really is...Please get back to us I am really intrested your take on things!!!
It's very early in the going. Very often in situations like this it can be several days before the customer reports the loss to us. That's because they have no power, are dealing with just taking care of their families, etc... That said, I've already seen more claims come in than I did for all of Hurricane Isaac a few months ago. I'm guessing there are going to be massive amounts of totalled or damaged cars. Not all are floods, some are hit by fallen trees/branches/debris. Some of those may be fixable, but the cars under water obviously aren't.
Yeah, sadly a lot of the flood cars will wind up on "mom and pop" dealer lots and be resold without disclosure of their history.
I hadn't seen that Taxi fleet picture until just now and read they were located in Hoboken,NJ. If you take a closer look, those were brand new taxi's waiting for delivery, I would definately want one of those..
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