Sandy could raise used car prices across the U.S.

November 12, 2012 12:00 AM

With an estimated 250,000 vehicles damaged due to Hurricane Sandy, drivers on the hunt for auto repair or a new car may have to face increased prices across the nation. A similar trend occurred after Hurricane Katrina ravaged the Gulf Coast several years ago, leading to a 3 percent increase in used car prices, The Washington Post reports.

Many of the damaged cars may also find their way to dealerships across the U.S. Drivers on the lookout for used vehicles should be aware of any past auto repair or vehicle maintenance, as there has been a history of flooded cars being sold as new or used in different locations.

"Cars that have been submerged in saltwater, and contaminated by bacteria and various toxins, will soon start to appear all over the country, even in states far from the center of the storm, Rosemary Shahan, president of Consumers for Auto Reliability and Safety, told The Los Angeles Times.

While the overall damage from Sandy likely won't equal that of the 2005 storm, vehicle prices are still expected to climb over the course of the next few months. According to The Car Connection, used-car prices are already at a high rate, with most just 5 to 7 percent cheaper than their brand new equivalents. 

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