Beware of Storm-Damaged Cars Flooding the Market

An estimated 80,000 to 100,000 vehicles from Sandy-affected states will be declared total losses. There's also a chance many of these will resurface in the used car market.

By Greg Horn | Updated on November 07, 2012

The economic damage from Hurricane Sandy could hit $50 billion, making it the second most expensive storm in U.S. history, ranking right behind Katrina, according to forecasting firm Eqecat.

The cost to insurance companies could range from a low of $10 billion to as high as $20 billion. Vehicles will be a significant part of the loss. There is a potential that an estimated 80,000 to 100,000 vehicles from storm-affected states will be declared total losses. Unfortunately, there is also a chance that a lot of these total losses will resurface in the used car market. Here’s what you need to know now.

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