The largest direct-operated used car platform corporation in the country, K Car, will conduct a 'flooded car compensation program' from July 1 to September 30 to alleviate consumer concerns regarding the distribution of flooded cars during the summer monsoon season.
If a flooded car is identified through K Car's verification diagnosis within 90 days of purchase, the vehicle cost and transfer expense will be fully refunded, and an additional 5 million won will be provided as compensation. This applies to any customer who purchased a vehicle through K Car's home service or nationwide K Car direct-operated stores.
K Car has been operating the flooded car compensation program since 2011, the first in the industry, to address consumer concerns related to flooded cars. By directly purchasing and selling vehicles, K Car conducts performance diagnostics on the vehicle body, including checking for exterior and interior accidents, whether parts have been replaced, and the performance of the engine and transmission, as well as self-diagnosis and paint thickness measurements, to thoroughly block the influx of flooded cars.
The flooded car can be verified on the Korea Insurance Development Institute's car history website, which shows insurance processing records related to flood damage. However, if the vehicle owner has not subscribed to insurance or repaired the car without processing it through insurance, verification can be difficult.
There are also methods to directly check for flooding.
You should compare the manufacturing date marked on key electrical components under the vehicle, such as the Electronic Control Unit (ECU) and Body Control Module (BCM), to the vehicle's manufacturing date, or check for contamination of major parts and dust or corrosion in the fuse box. Additionally, you can pull the seat belt all the way to check for mud traces or water stains, or whether parts have been exchanged, and look into the gaps of the windows with a light to check for internal contamination. In the interior, you can lift the mats from the floor to check for contamination of the flooring, and a musty smell from moisture can also be a factor in determining whether flooding occurred.
Jung In-guk, CEO of K Car, noted, "As a corporation leading the used car market, K Car provides various services so that consumers can purchase used cars with confidence," and added, "We will continue the responsible compensation program this monsoon season to ensure that customers can trust their purchases."
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