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Old 29th May 2014, 15:13   #46
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Default Re: Toyota Innova, unused for 4 years - Worth considering? EDIT: Walked away!

Anurag, that was an amazing find.

A possibility is that the vehicle is under finance through Citicorp and they may have written off the asset in their books as the vehicle is not traceable. i don't think the vehicle is confiscated by Citicorp, the reason being once they confiscate the vehicle they would keep it in their premises (maybe rented out closely guarded secure place ). If they have confiscated the car they would send registered notice to the registered owner and then if no response comes from the owner, then citicorp can approach the RTO and apply for a FRC (fresh rc book) which would be issued in the name of Citicorp. Once Citicorp gets the FRC, they are free to sell to anybody and that woulb become a legitimate sale. They usually auction of advertise/ sale by word of mouth.

Only suggestion while buying such vehicle would be to change the entire set of locks set just in case the previous owner has any malicious intention.

You could also directly speak to citicorp with the vehicle no, they could give the details and you could bargain with them saying someone has the whereabouts of the vehicle and you could negotiate a settlement.

Last edited by majumon : 29th May 2014 at 15:15.
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Old 29th May 2014, 15:32   #47
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Default Re: Toyota Innova, unused for 4 years - Worth considering? EDIT: Walked away!

This was a shocker - from the details given here by the original poster, I realised I work for the same company here in BLR and even I saw the cars put up for sale in my location - MB E350 cdi, Toyota innova, 2004 camry etc. I would have naturally assumed that the only catch in these cars would be the physical/mechanical condition of the cars - NOT the documents, esp considering its Company owned and the company in question is quite reputable. Now that thought is out of the window.
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Old 29th May 2014, 15:45   #48
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Default Re: Toyota Innova, unused for 4 years - Worth considering? EDIT: Walked away!

Wow. Thats a good find Anurag.

But, pardon my ignorance. Where is the SMS saying that the car is confiscated? Did your BIL call up Citicorp and find this out? Because the SMS has only details about the RC expiry date and the hypothecation company details.

Also confiscated vehicles would invariably lie in the hypothecator premises. I know this for sure because one of my relative is working in the same department of ICICI bank and as per him, he says this practice is common among all banks as a safety measure againste exactly this kind of sale that was tried by the OPs company.

Unless ofcourse the OP works in the hypothecator company.

Last edited by racer_ash : 29th May 2014 at 15:47.
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Old 29th May 2014, 16:10   #49
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Default Re: Toyota Innova, unused for 4 years - Worth considering? EDIT: Walked away!

Quote:
Originally Posted by majumon View Post
Anurag, that was an amazing find.

You could also directly speak to citicorp with the vehicle no, they could give the details and you could bargain with them saying someone has the whereabouts of the vehicle and you could negotiate a settlement.
There are many possibilities here but we are all just speculating and shooting arrows in dark. Anyway the OP has decide to let the deal go and not buying this car we can stop speculating.

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Originally Posted by sai_ace View Post
This was a shocker - from the details given here by the original poster, I realised I work for the same company here in BLR and even I saw the cars put up for sale in my location - MB E350 cdi, Toyota innova, 2004 camry etc. I would have naturally assumed that the only catch in these cars would be the physical/mechanical condition of the cars - NOT the documents, esp considering its Company owned and the company in question is quite reputable. Now that thought is out of the window.
There you go, see the feeling you got is I work for this company and by their standards of work, all will be legitimate and good mechanically and we can buy these cars at a decent price. Such a thought will come into many employees who will think of buying but don't check the documents etc.

I am NOT saying that OP's company is cheating and trying to sell the car off to an unsuspecting buyer. We all don't know why the OP's company doesn't have any documents and information for that Innova which is lying in their premises for the past 4 years?! Why hasn't any employee asked the company why is that car lying without usage (A parking slot gone waste ).


Quote:
Originally Posted by racer_ash View Post
Wow. Thats a good find Anurag.

But, pardon my ignorance. Where is the SMS saying that the car is confiscated? Did your BIL call up Citicorp and find this out?
Thanks buddy,

Yes, my BIL did try and find out from his friend who is ex-citi guy.

Anurag.
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Old 29th May 2014, 19:16   #50
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Default Re: Toyota Innova, unused for 4 years - Worth considering? EDIT: Walked away!

All I can think is, how much damage could have been avoided by a simple car cover being put when it was initially parked
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Old 30th May 2014, 08:43   #51
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Default Re: Toyota Innova, unused for 4 years - Worth considering? EDIT: Walked away!

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Originally Posted by AutoIndian View Post
Team, please pardon me if such thread already exists, but amongst all the threads in the Technical Section, I could not find any one relevant to post my query. Hence starting this new thread.

I have come across a used car for sale in my office. Need your expert opinion. My company is opening a bidding process for CLC cars, which are to be sold off to company employees. The car details are mentioned below:

Toyota Innova 2.5V(2007), Colour Silver, Version - Diesel
Pune registration
Odo reading not available
Lifetime Road Tax Paid
Insurance valid till 17-Nov-14
Minimum Acceptable Bid (hold your breath) Rs.2,85,000/-
Documents are available with the facilities dept, however RC card is unavailable

I would like to know from experienced forum members what is the max amount I should bid for this car. I know most of you would jump the gun and advise me to go for the car blind folded. However there is one caveat. This car has to be purchased on as-is where-is basis. I have seen this car lying around in the office parking at least for the last 4-5 years, standing in one position, totally unused all this while. It means this car has not been driven for such a long duration. What kind of technical challenges can be encountered in making this car roadworthy, up and running? Besides the regular replacements of tyres, battery, all fluids do you forsee any major replacement such as engine, transmission, clutch-gearbox, brake, steering, AC system etc?

I am ready to spend a maximum amount of 1 lacs, can stretch upto 2 lacs, with all the hassles, but the basic question is would this car be worth this exercise?

Prompt responses would be highly appreciated as the bidding starts from tomorrow.

Edit: If possible today I am going to take the keys of the car from facilities and inspect it inside out. Will post some pictures then. Also will come to know the exact running of the car. But if the battery is completely drained out, will the odo reading be still visible?
Also check if the coolant, engine oil, brake fluid etc. had been drained from the car before storage. If the fluids have not been drained they will corrode the internals due to presence of additives. Also the fuel tank and fuel pump will have to be replaced. As the car has been sitting at the same place you'll need new tyres. Buying this car might not be a very good decision, but if you think that the car is worth it, its your choice.
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Old 30th May 2014, 11:58   #52
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Default Re: Toyota Innova, unused for 4 years - Worth considering? EDIT: Walked away!

Quote:
Originally Posted by thecarguy View Post
Also check if the coolant, engine oil, brake fluid etc. had been drained from the car before storage. If the fluids have not been drained they will corrode the internals due to presence of additives. Also the fuel tank and fuel pump will have to be replaced. As the car has been sitting at the same place you'll need new tyres. Buying this car might not be a very good decision, but if you think that the car is worth it, its your choice.
Hello Car guy,

Welcome to the forum. Good suggestions there, but if you go through the thread (rather than just the opening post) you will discover that a lot of discussion has taken place. And the original poster has decided to walk away from this deal because of lack of clarity over the papers/ documents of the car. More than mechanical issues that the car might have, the issue of proper documents played the dampener here. But good decision indeed.

Regards,
Saket
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Old 30th May 2014, 12:59   #53
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Default Re: Toyota Innova, unused for 4 years - Worth considering? EDIT: Walked away!

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Originally Posted by AutoIndian View Post


Samepinch. Will catch up with you privately
Double samepinch. I am in same company too

Anyway, one of my friend was also interested in one of the other vehicle. I just guided him yesterday. Today I just discovered this link and shared with him immediately.
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Old 30th May 2014, 13:26   #54
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Default Re: Toyota Innova, unused for 4 years - Worth considering? EDIT: Walked away!

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Originally Posted by thecarguy View Post
Buying this car might not be a very good decision, but if you think that the car is worth it, its your choice.
Buddy, AutoIndian has walked from the car and this fishy deal so the question of purchasing is nil. Not worth mentally and mechanically to jump into this car and sped money on it.


Quote:
Originally Posted by vijay_rodie View Post
Anyway, one of my friend was also interested in one of the other vehicle. I just guided him yesterday. Today I just discovered this link and shared with him immediately.


Anurag.
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Old 30th May 2014, 16:11   #55
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Default Re: Toyota Innova, unused for 4 years - Worth considering? EDIT: Walked away!

My experience says, NEVER buy unused car. Specially which is not used for more than a year. It always gives problems only, that to unknown issues. My uncle bought similar unused Maruti & faced many issues. It used to give issues which are difficult to rectify. It used to stop in between, sometimes starting trouble, other issues & what not. He was fed up & sold it finally.

So stay away from such car IMO. I am sure peace of mind is always priority for you, which you might not get with this car.
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Old 30th May 2014, 16:16   #56
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Default Re: Toyota Innova, unused for 4 years - Worth considering? EDIT: Walked away!

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Originally Posted by aniketi View Post
My experience says, NEVER buy unused car. Specially which is not used for more than a year. It always gives problems only, that to unknown issues.

So stay away from such car IMO. I am sure peace of mind is always priority for you, which you might not get with this car.


To add to it, my experience says, buy any car that may be mechanically challenged as it can be solved somehow but buying that are legally challenged is a RISK! Can land the new owner in trouble.

Anurag.
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Old 1st June 2014, 19:49   #57
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Default Re: Toyota Innova, unused for 4 years - Worth considering? EDIT: Walked away!

My car, was one such example that had been standing for 4 long years and I bought it on 'as is where is' basis.

Things I proactively changed upon buying - Engine oil, even before moving the car. Towed it to the service centre - changed all the fluids in the car except the transmission oil.

Other things that I have had two replace over the past two years -

- Wiper blades ( understandable )
- Battery ( understandable )
- Tyres ( flats spots do develop )
- Fuel lines and fuel injectors ( fuel quality detoriates too much and damages these )
- Power window motor ( strangely only the driver's side )
- Key barrels on the door and boot ( I think its a problem with Fords )
- few rubber beadings that had become brittle
- Brake pads ( Dint realize this, until I drove it out of the service centre )\
- Shock absorbers ( Never thought this would be damaged by not moving the car - wont lubricate it seems )

Things you need not worry much about -

- The engine ( mileage shows its age, not the days )
- Electrical wiring have not made their presence felt in a bad way till now
- The transmission / clutch have no age effect
- The interiors of the car ( if it had been locked )
- If greased (door hinges)and stored properly, modern cars have quite a good resistance against rusting issues.
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Old 1st June 2014, 20:04   #58
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Default Re: Toyota Innova, unused for 4 years - Worth considering? EDIT: Walked away!

Quote:
Originally Posted by aravind.anand View Post
My car, was one such example that had been standing for 4 long years and I bought it on 'as is where is' basis.

Things I proactively changed upon buying - Engine oil, even before moving the car. Towed it to the service centre - changed all the fluids in the car except the transmission oil.
Thank you Aravind for sharing your experience of purchasing a used car, which was unused for prolonged period like in my case. From your signature I am assuming it was a Fiesta 1.6S.

Could you please share over here for the benefit of myself and other members, how much time and money you spent on it (of course with the break-up) to get it back in shape? Also even after repairing it to your satisfaction did you face any break-downs or minor issues/niggles?
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Old 1st June 2014, 20:38   #59
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Quote:
Originally Posted by aravind.anand View Post

- Shock absorbers (Never thought this would be damaged by not moving the car - wont lubricate it seems)
Is this due to no movement of the car and the shock absorbers goes kaput since the car is standing still for 4 years where the weight of the car is borne by the shock absorbers and tyres. Am I right?

Anurag.
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Old 1st June 2014, 21:27   #60
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Default Re: Toyota Innova, unused for 4 years - Worth considering? EDIT: Walked away!

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Originally Posted by a4anurag View Post
Is this due to no movement of the car and the shock absorbers goes kaput since the car is standing still for 4 years where the weight of the car is borne by the shock absorbers and tyres. Am I right?

Anurag.
Yeah no movement over many years means it will get stuck/sticky and may not give required damping.
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