[bblost]

Originally Posted by swiftnfurious

All these cars would have had insurance at the time of accident right? What happens to that insurance?

The car was declared total loss. The insurance that was on the car has been paid to the original owner.

Currently the vehicle does not have any insurance.
And if the accident was bad enough, it may not even be street worthy.

[.anshuman]

Originally Posted by .anshuman

I know one of the cars listed here on Carjinn.com's front page, they are making atleast 3 lakh rupees profit with in a day of purchase from service center. The Actual repair estimate is 30 lakhs, not 3 lakhs as listed there.

Will get back with proof and more detailed report soon..

Here is the estimate. I have gone through the detailed list of parts, sourcing these many parts from open market will be impossible, even if someone is able to procure the parts the repaired car will cost more than a new car.

The only good use i can think of such as damaged as this one is scrapyard, i can bet it will eventually end up in either Meerut or Mayapuri.

[RS_DEL]

Originally Posted by .anshuman

Attachment 1001069


Here is the estimate. I have gone through the detailed list of parts, sourcing these many parts from open market will be impossible, even if i can bet it will eventually end up in either Meerut or Mayapuri.

Thank you very much for this. Any person with a modicum of common sense can see,these Carjinn people do not want to price their offerings rationally. With each vehicle they seem to be seeking a ticket to El Dorado!

There is a more fundamental issue here, that you could share your views on though. Is it not possible in your view to arrange parts not just for this vehicle but any such technology heavy vehicle. from vehicles in overseas scrap yards using them as donor vehicles at a cost that is economically viable?

[tanwaramit]

I can see that some of the cars are in good condition too, this means that this site has cars other than total loss cars.

For ex, see this Fortuner, I couldnt see any issue with this Fortuner

http://www.carjinn.com/RefurbishedCarOne.aspx?id=165

Thats why the current price is approx 16L.

Also found another one, an Innova.

http://www.carjinn.com/RefurbishedCarOne.aspx?id=164

[ajmat]

In the UK, the insurance take a lot more responsibility and categorise damage. If the car is written off, it needs to be categorised ad reported to the vehicle agency. Classifications are as follows:

Category A: Scrap only - this vehicle should have been crushed. It should never reappear on the road and there are no economically salvageable parts. It is of value only for scrap metal - eg a totally burnt-out vehicle.

Category B: The bodyshell should have been crushed. The vehicle should never reappear on the road, but it can be broken for spare parts plus any residual scrap metal.

Category C: Vehicle extensively damaged and insurer has decided not to repair. The vehicle should have an independent inspection before being allowed back onto the road.

Category D: Vehicle damaged and insurer has decided not to repair.

Category F: Vehicle damaged by fire and insurer has decided not to repair

Source - Aviva

I wish insurers here would take more responsibility

[Warwithwheels]

Originally Posted by tanwaramit

For ex, see this Fortuner, I couldnt see any issue with this Fortuner...

In all probability, as the website link suggests, it is a refurbished piece.

A used fortuner (Non Accidental Vehicle) of the same vintage or even older sells for about 18 to 20 L in the market.

Ditto for the Innova.

http://classifieds.team-bhp.com/sear...qs_button=Find

[ku69rd]

Guess this is an innovation for the scrap market, these guys did exist from many decades ago. From my experience in Frazer Town, Shivajinagar (Bangalore) you will get to see many such thriving shops. Looks like this chap is an entrepreneur who thought of using the .com bubble to sell his wares.
General Modus Operandi would be that they have contacts with Insurance Agents who tip off the Scrap Dealers on the availability of such totalled vehicles. Insurance pays out the IDV Value to Owner, and sells the totalled cars to such scrap dealers. Scrap Dealers then repair the damaged car to be sold to prospective clients.

Easy way to identify such cars would be to check for the insurance, generally these cars would not be having Insurance policy and needs to be procured by the buyer. Not quite sure if the buyer can get comprehensive policy or third party.

PS: Quoted from my personal experience.

[F150]

Originally Posted by ku69rd

Guess this is an innovation for the scrap market, these guys did exist from many decades ago. From my experience in Frazer Town, Shivajinagar (Bangalore) you will get to see many such thriving shops. Looks like this chap is an entrepreneur who thought of using the .com bubble to sell his wares.
General Modus Operandi would be that they have contacts with Insurance Agents who tip off the Scrap Dealers on the availability of such totalled vehicles. Insurance pays out the IDV Value to Owner, and sells the totalled cars to such scrap dealers. Scrap Dealers then repair the damaged car to be sold to prospective clients.

Easy way to identify such cars would be to check for the insurance, generally these cars would not be having Insurance policy and needs to be procured by the buyer. Not quite sure if the buyer can get comprehensive policy or third party.

PS: Quoted from my personal experience.

Well said !!

Who in their right mind will buy an accident vehicle ? At-least BHPians would never buy such vehicles.

I think it would close to impossible to get an insurance policy for such vehicles.

Question: Don't insurance companies black list the Chassis numbers of written off vehicles ?

[GTO]

Originally Posted by F150

Who in their right mind will buy an accident vehicle ? At-least BHPians would never buy such vehicles.

If the damage is mainly cosmetic with minimal structural damage, such deals can make sense. Remember, at the end of the day, a car is little other than a collection of parts. Damaged part? Just replace. Again, it's key for the structure to be in good shape.

There's a lot of money to be saved. But, of course, you need a lot of time, effort, the right garage and contacts (to source parts etc.).

Here are two examples (the BHPian is happy with both cars). Rs. 6 lakhs each for the Merc & the X-Trail (inclusive of purchase cost + repairs):

Mercedes

X-Trail

[SedatedDrive]

I went through every car they had hosted as 'Refurbished Cars'. I am not at all impressed with the following:

1. Estimate without accreditation.
2. Starting bids seems to be an offhand baseline rather than genuine and specific to each model.
3. Personally I find it difficult to trust auction sites that don't reveal identity of competitor bidders. Did you see that all the cars had a Current bid?
4. Information on the details page is not authentic or professional. Eg: 'Diesel Accord...'

Gentlemen, walk away...

[RS_DEL]

Originally Posted by F150

Well said !!

Who in their right mind will buy an accident vehicle ? At-least BHPians would never buy such vehicles.
Question: Don't insurance companies black list the Chassis numbers of written off vehicles ?

That is a gross generalisation my friend and as such is inherently flawed. You have been given two examples by GTO, of a member who has done this twice over and is none the worse for it.

Let us assume a vehicle suffers some damage to structural parts of the body and is repaired. Now what is the test of road worthiness? Who decides ? The law says that the final say in the matter is with the RT authorities. If they are satisfied, then requirement as per law is met with. They can stipulate that the vehicle has to meet the test of satisfactory road worthiness and nominate an authority who will decide on the matter.

Now what about the insurance? If the vehicle has been restored to the extent that it is fully functional and a certified assessor/surveyor attests to that, then the insurance company's actuarial department will decide the premium to be charged and subject to the proposer agreeing the vehicle will be insured. The insurance company cannot be allowed to have the final veto on whether a vehicle is road worthy or not.

[F150]

Originally Posted by GTO

If the damage is mainly cosmetic with minimal structural damage, such deals can make sense. Remember, at the end of the day, a car is little other than a collection of parts. Damaged part? Just replace. Again, it's key for the structure to be in good shape.

There's a lot of money to be saved. But, of course, you need a lot of time, effort, the right garage and contacts (to source parts etc.).

Here are two examples (the BHPian is happy with both cars). Rs. 6 lakhs each for the Merc & the X-Trail (inclusive of purchase cost + repairs):

Mercedes

X-Trail

At the end of the day its a gamble and risk factor is pretty high given the credibility of such dealers.

I for one would stay away from such examples, in this day and time TRUST is a rare commodity.

I am not completely ruling out the possibility of good deal, but the effort required is too much for a a person like me who loves peace of mind. Value seekers will succeed anyway.

Originally Posted by RS_DEL

That is a gross generalisation my friend and as such is inherently flawed. You have been given two examples by GTO, of a member who has done this twice over and is none the worse for it.

Explained my POV above.

Let us assume a vehicle suffers some damage to structural parts of the body and is repaired. Now what is the test of road worthiness? Who decides ? The law says that the final say in the matter is with the RT authorities. If they are satisfied, then requirement as per law is met with. They can stipulate that the vehicle has to meet the test of satisfactory road worthiness and nominate an authority who will decide on the matter.

This is INDIA, you bribe you get certificates.

Now what about the insurance? If the vehicle has been restored to the extent that it is fully functional and a certified assessor/surveyor attests to that, then the insurance company's actuarial department will decide the premium to be charged and subject to the proposer agreeing the vehicle will be insured. The insurance company cannot be allowed to have the final veto on whether a vehicle is road worthy or not.

Insurance companies are free to decline insurance, they have no mandatory obligation. We have seen examples on the forum.

I was referring to vehicles written off by Insurance Cos in particular.

[Warwithwheels]

Originally Posted by GTO

..Here are two examples

GTO, That's a real eye opener. Am gonna revisit the website with a fresh perspective. Aatish has done a great job indeed

Here's another thread that he started off to share the intricacies involved in the game.

http://www.team-bhp.com/forum/techni...-supercar.html

[RS_DEL]

Originally Posted by Warwithwheels

GTO, That's a real eye opener.
http://www.team-bhp.com/forum/techni...-supercar.html

Those were the examples I referred to in my first post on the subject/thread. I think this route is very much a viable option. There are caveats though.

[]The structural damage must not be such that vehicle is best condemned and is only fit to be cannibalised as a donor/shredded.

[] The prices at which the vehicle is available should be such that after the rebuild one ends up at a price point no higher than the two thirds or so of a non accidental vehicle. This number is what I would hope for and is subjective . I will want if I engage in such an exercise I should be rewarded for my knowledge , the time I devote to a rebuild etc etc.

[] Spares and garage - Needless to add these are two things one must be very confident about managing, before one even thinks about venturing on such an exercise.

With regard to this website i.e. Carjinn I really can not figure out how they do their calculations. Going by their numbers and state of respective vehicles, I wonder if anyone can save anything at all. They have just served the purpose of facilitating a dialogue on refurbished vehicles, beyond that I wonder if they can be of any use, given their senseless prices and even more senseless repair estimates.

[sinhsha]

One of my colleague bought a pajero from CarJinn. I asked his opinion to share on this thread. And this is what he has written back.

Hey Shantanu,
I also didn’t want to go for accidental car, found this PAJERO over web, talked to Carjinn costumer support about car details, their repairing parameters and costing. I was convinced finally and opted to go for this utility vehicle and guess what? This vehicle is up to mark as per my requirements and quality standard.
Two things I really appreciate
[FONT=Calibri]1. [/FONT]These Jinn people are dealing fair as they let customer know what are the damages prior repair and provide images along with.
[FONT=Calibri]2. [/FONT]Fair Cost : I have been driving this car for months with no mechanical issues and still I am getting good resale value.