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Originally Posted by Hatterasguy
In my book a flood car is any car that has sat in water deep enough for said water to enter the passanger compartment.
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Your book, your world.
In the real real world a flood car is a car sold at a salvage auction after it is released from an insuance company with documentation that says the car was damaged in a flood. It's a dealer thing, salvage auctions are generally open only to dealers.