Flood Damaged Vehicles

[timekeeper]

i am looking to buy insurance write off flood damaged vehicles to export

i have been in touch with a few major insurers and have made some headway.

obviously it make take some time for them to get sorted

so i may as well get started now

anyone any thoughts on the matter....... ?

[kartman]

In normal business highest bidder wins but TIT hope your headway means finding out whose palm to grease .

[beano2274]

Try Honda and Toyota there are many pictures of their cars swimming around.

[WarpSpeed]

Try Honda and Toyota there are many pictures of their cars swimming around.

Buuut they're new and not supposed to be sold into the market, they're insurance write offs and should be scraped..

Edited October 20, 2011 by WarpSpeed

[kartman]

Had another thought (bit far apart today ) how do you get around the fact any salvage if there is any will be priced in this market perhaps the dearest RHD, where are you going to export it to profitably ?

[beano2274]

Try Honda and Toyota there are many pictures of their cars swimming around.

Buuut they're new and not supposed to be sold into the market, they're insurance write offs and should be scraped..

TIT a few backhanders and hey pronto, the only thing being you need to export them.

[WarpSpeed]

Try Honda and Toyota there are many pictures of their cars swimming around.

Buuut they're new and not supposed to be sold into the market, they're insurance write offs and should be scraped..

TIT a few backhanders and hey pronto, the only thing being you need to export them.

But my point is that the insurance company owns them now and they paid cost for them or will shortly which will also be a hold up, they'll have to make a full assessment and payoff first which will likely take months, not so sure the cars will be around that long.. So it would be useless to contact Honda or Toyota directly they have no say in the matter except maybe to tell you how to contact their insurance company maybe..

^^Kartman Africa, maybe the middle east in some parts, possibly even India..

[timekeeper]

Had another thought (bit far apart today ) how do you get around the fact any salvage if there is any will be priced in this market perhaps the dearest RHD, where are you going to export it to profitably ?

there are many markets where spares parts prices for Asian manufactured cars are much higher than in Thailand

[timekeeper]

Try Honda and Toyota there are many pictures of their cars swimming around.

Buuut they're new and not supposed to be sold into the market, they're insurance write offs and should be scraped..

Honda have already made an official statement to that effect

Toyota have not lost significant vehicles due to floods

they have ceased production due to parts shortages from suppliers who have been flooded

Edited October 20, 2011 by timekeeper

[timekeeper]

Try Honda and Toyota there are many pictures of their cars swimming around.

Buuut they're new and not supposed to be sold into the market, they're insurance write offs and should be scraped..

TIT a few backhanders and hey pronto, the only thing being you need to export them.

But my point is that the insurance company owns them now and they paid cost for them or will shortly which will also be a hold up, they'll have to make a full assessment and payoff first which will likely take months, not so sure the cars will be around that long.. So it would be useless to contact Honda or Toyota directly they have no say in the matter except maybe to tell you how to contact their insurance company maybe..

^^Kartman Africa, maybe the middle east in some parts, possibly even India..

you are correct, the Thai insurers will be dealing with this for those who are insured

i have already contacted them to show my willingness to buy their write offs, get them out of the Thai system and move this mess along quickly

for those unfortunates who aren't fully insured, they will be looking to clean it up, dry it out and get rid of it asap

auctions will bursting with cars for sale and this drive the market price of second hand vehicles down as sellers accept low ball bids to get rid

so if you aren't doing this already, make a note of the provinces /areas that have been seriously flooded and keep it for reference

soon there will be a glut of vehicles that were submarines on the market from those places

i have seen this in the UK and the cars with only 3rd party insurance that were flooded out, then dried out and sold, were write offs inside a year anyway

particularly those that had salt water damage

they simply rotted away from the inside out and the buyer never knew until it came to MOT inspection time.......

so caviat emptor folks..........

[Kicker]

Flood damage may not really be that big of a deal unless it is salt water.

I bought a flood damaged Toyota Corona Exsior from family in Phitsanulok province many years ago, the car had been completely submerged for 3 days.

If I remember correctly I replaced the ECU, door cards, some electric switches and the odometer unit. Engine gearbox etc were all working OK.

That car ran perfectly and I sold it for what I paid 5 years later (260,000 baht comes to mind), although the autobox did become a bit lazy at around 250,000km, not sure whether that was related to the flood damage or general wear and tear.

But a friend bought a Nissan Frontier that turns out had been in the Tsunami - that was a whole different story and rotted along all the welds from the inside out within 2 years.

[WarpSpeed]

Flood damage may not really be that big of a deal unless it is salt water.

I bought a flood damaged Toyota Corona Exsior from family in Phitsanulok province many years ago, the car had been completely submerged for 3 days.

If I remember correctly I replaced the ECU, door cards, some electric switches and the odometer unit. Engine gearbox etc were all working OK.

That car ran perfectly and I sold it for what I paid 5 years later (260,000 baht comes to mind), although the autobox did become a bit lazy at around 250,000km, not sure whether that was related to the flood damage or general wear and tear.

But a friend bought a Nissan Frontier that turns out had been in the Tsunami - that was a whole different story and rotted along all the welds from the inside out within 2 years.

What about the moldy and nasty interior? Or you just didn't give that any mind?

[timekeeper]

Flood damage may not really be that big of a deal unless it is salt water.

I bought a flood damaged Toyota Corona Exsior from family in Phitsanulok province many years ago, the car had been completely submerged for 3 days.

If I remember correctly I replaced the ECU, door cards, some electric switches and the odometer unit. Engine gearbox etc were all working OK.

That car ran perfectly and I sold it for what I paid 5 years later (260,000 baht comes to mind), although the autobox did become a bit lazy at around 250,000km, not sure whether that was related to the flood damage or general wear and tear.

But a friend bought a Nissan Frontier that turns out had been in the Tsunami - that was a whole different story and rotted along all the welds from the inside out within 2 years.

thanks for the hands on insight kicker

after this there will be thousands of vehicles headed to the scrap heap in 1-2 years

[kartman]

Except they don't scrap vehicles here i'm with Kicker on this one , lots of dosh to be made drying out / refurbishing interiors then they will live again life expectency down from 50+ years to 45 perhaps?

[kartman]

Curious 12 months on how many vehicles were purchased?