In the wake of Katrina, beware of flooded cars

Immersion in water usually causes enough damage to total a car, but not all of them go to the scrapyard where they belong. Many insurance companies sell the cars to rebuilders, where they can be cosmetically repaired and sold at a handsome profit. But that doesn't mean the car is OK -- flood damage causes all sorts of problems that can be expensive and frustrating to repair. Remember: If it was cost-effective to repair the car properly, the insurance company would have done it. Some states, including Louisiana, indicate flood damage on the car's title, but the title can be "washed" by state-to-state transfers. If you are going to buy used, be sure to get a detailed background report from a service such as Carfax. If the car has been severely damaged in a flood, don't buy it. -- Aaron Gold