[Asia Economy Reporter Kim Ji-hee] K Car, a direct-operated used car company, announced on the 14th that it will provide a one-month "Flooded Car Assurance Compensation Service" for consumers worried about flooded cars when purchasing used cars due to the ongoing rainy season lasting for a month.
From August 18 to September 17, any consumer who purchases a direct-operated used car through K Car's nationwide direct stores or home service can receive the compensation service. If within 90 days after purchase, the car is found to have a flood history contrary to K Car's vehicle inspection results, the full price of the car will be refunded, and the registration transfer fee will be fully compensated. Additionally, a compensation of 1 million KRW will be provided.
K Car carefully conducts inspections including internal and external accident and replacement checks, engine and transmission performance diagnostics, as well as flood, self-diagnosis, and coating thickness measurements to alleviate concerns about flooded cars. The company planned the Flooded Car Assurance Compensation Service to help consumers confidently purchase used cars. Flood accidents refer to situations where a car is submerged or trapped in flowing or stagnant water, backflow water, floodwater, or seawater. However, rainwater entering through opened car doors or sunroofs is not classified as a flood accident.
There are also ways to check for flooding through self-diagnosis when purchasing a used car. First, compare the manufacturing dates on key electronic components such as the electronic control unit or body control module located under the vehicle interior with the vehicle's manufacturing date, and check for contamination of major parts. When pulling the seatbelt fully, check for traces of mud, water stains, or part replacements. Lower the windows and use a light device to inspect the gaps between the glass for internal contamination, or lift the interior mats to check for floor contamination. These methods allow a simple check of flood history.
Additionally, it is possible to check flood history before purchasing a used car through the Car History service provided by the Insurance Development Institute. However, it may be difficult to confirm flooding if the car is not insured under comprehensive insurance or if the owner repairs the car without insurance claims.
Jung In-guk, CEO of K Car, said, "Due to the prolonged rainy season, consumer anxiety about flooded cars is increasing, so we operate the Flooded Car Assurance Compensation Service annually to alleviate this concern." He added, "If you are worried about flood detection when purchasing a used car, it is advisable to properly use warranty services that provide compensation and repairs depending on the vehicle's condition after purchase."
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