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Old 7th January 2016, 11:32   #16
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Default Re: Chennai Flood Impact: Large number of cars up for online auction at throwaway base prices

Slightly I heard one of my service engineer friends say that around 23 lakh cars have come for insurance claim-though not all are a total out case. But the dealers are in no mood to service most cars. Neither they have the time/space to accomodate nor do they have enough workforce.

Anyway, imagine the number of new cars replacing these salvaged cars. Car sales in Chennai would surge this FY for sure.
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Old 7th January 2016, 12:48   #17
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Default Re: Chennai Flood Impact: Large number of cars up for online auction at throwaway base prices

How many of the Mahindras were bought by Rohit Shetty?


The Swift and Micra selling prices are obnoxious!!!

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Originally Posted by Prinz_500 View Post
Anyway, imagine the number of new cars replacing these salvaged cars. Car sales in Chennai would surge this FY for sure.
The manufacturers should take this opportunity and offer a buyback/loyalty bonus offer for new cars. They can buy their own flood affected cars and salvage whatever parts they could, the customer would also be happy that their 'total loss' was not a total loss after all.

Last edited by saion666 : 7th January 2016 at 12:55.
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Old 7th January 2016, 12:54   #18
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Default Re: Chennai Flood Impact: Large number of cars up for online auction at throwaway base prices

No one is buying these as 'part' cars. The selling prices prove that.

As Smartcat posted, these will be refurbished for the minimum possible cost and sold to unsuspecting buyers. A typical used car dealer would have a profit margin of 20-30k on a used hatchback. On cars like these, it can run well over a lakh.

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Originally Posted by hybridpetrol View Post
Can someone buy such cars really, and drive it peacefully like, even like, say a 10 year old car?
Odds are against that. Issues & gremlins will always come up. Flood damage is very serious damage.
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Old 7th January 2016, 12:57   #19
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Default Re: Chennai Flood Impact: Large number of cars up for online auction at throwaway base prices

Only 1 vehicle on sale for now ?
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Old 7th January 2016, 13:09   #20
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Default Re: Chennai Flood Impact: Large number of cars up for online auction at throwaway base prices

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Originally Posted by condor View Post
Only 1 vehicle on sale for now ?
Right. And if the dealers are thinking they cannot refurbish it with their Jugaad repairs at their "friendly" nukkad garages, might as well stay a barge pole away from it.
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Old 7th January 2016, 13:14   #21
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Default Re: Chennai Flood Impact: Large number of cars up for online auction at throwaway base prices

This has to be the first scam of 2016. Flood damaged cars auctioned just a couple of lakhs less than non-flood damaged used car rates.

Buying a used car with Chennai registration is going to be BIG gamble for the next couple of months.

Luxury car owners with PY registration should be thanking their stars. As long as the car is repaired decently it won't really ring alarm bells to unsuspecting buyers.

However the website as such was laid out well, had enough photos and even parked slot information. Well organized.

Last edited by kiku007 : 7th January 2016 at 13:16.
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Old 7th January 2016, 13:39   #22
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Default Re: Chennai Flood Impact: Large number of cars up for online auction at throwaway base prices

I think this is a really good chance to start a nice salvage business since not all components of all the cars would have suffered permanent damage. This especially applies to body exterior and interior parts, mechanical components, etc. Even ECUs are usually designed and built in a very tough manner. So a majority of the parts can be resold if the car was new.
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Old 7th January 2016, 14:49   #23
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WOW!
Things really do not make sense don't they?
Flood cars being sold off for so much of money and the worst part is that unsuspecting buyers will buy these cars after refurbishment and will clearly be cheated :(
Maybe the Government/Authority in charge shall declare the Chassis/VIN Number of such cars to make sure people are not cheated.

People shall at least know what they are buying!

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Originally Posted by audioholic View Post
I think this is a really good chance to start a nice salvage business since not all components of all the cars would have suffered permanent damage. This especially applies to body exterior and interior parts, mechanical components, etc. Even ECUs are usually designed and built in a very tough manner. So a majority of the parts can be resold if the car was new.
Yes, I agree completely.
Body parts and interior parts can be sold with a little bit of repairs and is a win win situation for the seller and the buyer.
It is a totally different story when the folks who have bought these flood affected cars will refurbish it and sell it to unsuspecting buyers, basically cheating them so badly

I guess there is nothing much that can be done. It barely took a day's time for all the cars to be gone

Last edited by Aditya : 17th January 2016 at 07:10. Reason: Back to back posts merged, deleting extra smiley
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Old 7th January 2016, 15:11   #24
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Default Re: Chennai Flood Impact: Large number of cars up for online auction at throwaway base prices

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Originally Posted by Rajeevraj View Post
I was able to download a dump of the vehicles auctioned today.Good part is that the VIN details are present. Attaching a PDF summary and an excel with more details.

Link to PDF: Attachment 1457415
Link to Excel: Attachment 1457416
My friend in Chennai is looking to buy a used car and I have cautioned him well. I will share this spread-sheet with him to ensure that he does not go anywhere near these VIN numbers.

Buying a used car in Chennai will be a risky one for the next 8 to 10 months.

Thanks for the compilation.
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Old 7th January 2016, 15:43   #25
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Default Re: Chennai Flood Impact: Large number of cars up for online auction at throwaway base prices

Quote:
Originally Posted by Srikanthan View Post
My friend in Chennai is looking to buy a used car and I have cautioned him well. I will share this spread-sheet with him to ensure that he does not go anywhere near these VIN numbers.

Buying a used car in Chennai will be a risky one for the next 8 to 10 months.

Thanks for the compilation.
Nice! Thanks for sharing that useful information.
A part of me hates to say this but I really have got a bad hunch that the buyers of such cars will really play a master stroke at this and may even go to the extent of tampering with the registration of the cars to sell it.

We shall share the VIN Numbers with all our fellow BHPians from South and make sure that our family/friends do not fall for any gimmicks.

Thanks again,
Cheers.
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Old 7th January 2016, 16:24   #26
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Default Re: Chennai Flood Impact: Large number of cars up for online auction at throwaway base prices

This sounds surprisingly similar to the "rebirthing" racket that used to happen to written off cars in Australia until recently.

Late model cars that were declared a write-off due to serious accidents would be bought at ridiculous prices at auctions (impossible to make any profit by repairing them) by criminal gangs, who would then STEAL an identical car, neatly cut out its identifying bits like the manufacturer's plate, VIN number etc and professionally weld in & paint the corresponding bits from the written-off car. The "rebirthed" wreck would now be presented to the RTO as a repaired vehicle, registered and sold to some poor mug. Many innocent people who bought these cars had them taken back by the police since they were stolen property.

Everyone knew of the racket, but everyone kept quiet, especially the insurance companies as they were recouping their money. Police couldn't really do anything. Finally, after years of doing nothing and public outcry, the federal government introduced a Written-Off vehicle register - any vehicles entered in it could never be re-registered again. That killed the rebirthing racket pretty much straightaway.

Last edited by LTAutoMad : 7th January 2016 at 16:25.
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Old 7th January 2016, 16:33   #27
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Default Re: Chennai Flood Impact: Large number of cars up for online auction at throwaway base prices

Quote:
Originally Posted by Srikanthan View Post
Buying a used car in Chennai will be a risky one for the next 8 to 10 months.
In fact this risk will remain for the next 3 years or even more(seen this in Surat post 2006).

Have seen restored cars remaining in operation since then ; and the owners never complained.

I was hunting for a Corolla in 2010 and was fortunate to get a non-flood affected car of 2003 vintage.

Flood affected and restored cars sport some tell tale signs,though ; these cars are best avoided as one can never predict what would crop up.
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Old 7th January 2016, 16:49   #28
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Default Re: Chennai Flood Impact: Large number of cars up for online auction at throwaway base prices

If the auctioned cars are repaired at an A.S.S, won't the service history come up when the car is up for sale again? That would be an awfully large gamble, especially for the Porsches and the Bimmers. I doubt if there will be any buyers, say a couple of years from now.
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Old 7th January 2016, 17:04   #29
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Smile Re: Chennai Flood Impact: Large number of cars up for online auction at throwaway base prices

Quote:
Originally Posted by Rajeevraj View Post
I was able to download a dump of the vehicles auctioned today.Good part is that the VIN details are present. Attaching a PDF summary and an excel with more details.

Link to PDF: Attachment 1457415
Link to Excel: Attachment 1457416
Quote:
Originally Posted by Luv_Jaiswal View Post
Maybe the Government/Authority in charge shall declare the Chassis/VIN Number of such cars to make sure people are not cheated.

People shall at least know what they are buying!
Rajeevraj has mentioned that the VIN details are present.

Last edited by Karthik Chandra : 7th January 2016 at 17:06.
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Old 7th January 2016, 17:11   #30
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Default Re: Chennai Flood Impact: Large number of cars up for online auction at throwaway base prices

Well, the orher day my fater in law told me about his friends BMW (3 series I guess) which got damaged in the floods. The book value was 27 lacs and its a total loss. Now comes the interesting bit, BMW is now offered them a new car in replacement of the old car for a nominal charge of 50,000.

It just did not make any sense as too why would BMW be so courteous. Are they trying to get rid of any old stock lying with them or if its a damaged car. Has anyone heard of a similar instance in Chennai with BMW?
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