Following a flood disaster occasioned by Hurricane Harvey in Texas, United States of America, insurance companies who have taken possession of assets designated mostly as scrap will need to figure out how to get the best of whatever is left of the value of the assets.


Top on the items of assets to dispose of will be motor vehicles that have been submerged for days under devastating floods.


As was the case with Hurricane Katrina and Sandy, the route to market for these cars will be via the salvage auction.


Nigeria is said to be among the top destination for salvage cars from the US and also ranks as one of the top export destinations for used cars in the US.


In fact, another data put the value of recent used vehicle export to Nigeria at about $99 million.


National Daily gathered that Nigerians are already gearing up to purchase thousands of these cars that will be sent to the salvage auctions by the insurance companies.


According to one account, the cars could be bought as cheap as $1000 in these auctions and will be purchased and shipped to Nigeria for repairs and resale.


Some of the cars which have perhaps been damaged beyond repair are often dismantled and their parts removed and resold as second-hand items.


While some of these cars are expected to be cheap and within the reach of millions of working class Nigerians.


Experts believe cars salvaged from natural disasters such as floods are hardly ever okay.


They opine that the damage done to the electrical parts of the cars are irreparable and will cost eventual owners hundreds of thousands of naira in incessant repairs till they are sold off to another innocent onlooker.


Also rust to other parts of the vehicles will also lead to incessant repairs reducing the value faster than any other reason.


To avoid being a victim, it is advisable to check National Motor VehicleTitle Information System, a database of the status of cars populated insurance companies and states.


The website is freely accessed and can be used to verify the historicalstatus of vehicles, especially those that may have been ravaged by floods.


Nigerians can access this website to check the status of cars bought second-hand, especially those bought later this year and early next year.





https://nationaldailyng.com/hurricane-harvey-cars-could-be-on-their-way-to-nigeria/?_e_pi_=7%2CPAGE_ID10%2C8835390157

Hurricane is not coming to Nigeria

Every country just wants to dump their shît in Nigeria. Nigeria is now a dumping ground.

Okay. Lalasticlala, it's a front page material

Don't tell me that you are surprised.
It is a known fact that Nigeria is the best dumping ground after Nigeria followed by Nigeria

nawaoo

Africa generally

they see Africa as a dumping ground.... buy from a reliable source and don't be gullible

That was what came to my mind first when I saw those cars. Anything wey oyibo don use dey sweet us scatter.

Not new

Let me go and quickly book my own, I need to buy and resell at least three of those submerged cars.

Ehen?
So what seems to be the problem?
Submerged phones eventually work how much more cars.
I can bet that most of those Submerged cars are beta than the 80 percent of the cars on nigeria roads.
Let's stop deceiving ourselves
How many can afford new cars in nigeria?
No credit facilty system in nigeria to make life easy.
I tire for this country

GAZZUZZ:
Im ready and waiting

We clean it up and put it back on the road.

P.s I am not the one that imported them, just helping the few that bought flooded vehicles.

Hahaha..

Bring them, we go buy

naija my naija d center of trash dumping.
warning, Awoof dey runn belle o.

NCANpatroller:
Ehen?
So what seems to be the problem?
Submerged phones eventually work how much more cars.
I can bet that most of those Submerged cars are beta than the 80 percent of the cars on nigeria roads.
Let's stop deceiving ourselves
How many can afford new cars in nigeria?
No credit facilty system in nigeria to make life easy.
I tire for this country

About 80% cant afford new cars here and that's why they go for used/tokunbo cars because they're cheaper.

Even some of these tokunbo cars we're buying if not most are salvaged vehicles, accident but with light damages(Damaged bumpers, doors, lamps, windshield, hail etc and they get them fixed easily)


But i think flooded/submerged cars comes with the most risks.


How long was the car under the water?

Those cars stayed days submerged

The longer the vehicle remained submerged, the greater the damage.

What kind of water flooded the car?

If it was salt water, the corrosion will occur much more aggressively than if it was fresh water.

GAZZUZZ:
Im ready and waiting

We clean it up and put it back on the road.

P.s I am not the one that imported them, just helping the few that bought flooded vehicles.

Walahi!!!

9ja which way

explorer am sorry for derailing......




.....still waiting for a thread on north koreas hydrogen bomb test..



...now.....concerning dis post,


am not surprised at all...h.as nigeria as always been know as a dumping ground for used nd abandoned goods frm overseas....

GAZZUZZ:
Im ready and waiting

We clean it up and put it back on the road.

P.s I am not the one that imported them, just helping the few that bought flooded vehicles.

The guy EZE comes to mind...

Good people.. Great Nation....its our own way of helping them nah...

Nigeria is a dumping ground! I won't be surprise is those cars finds their way here.

We'll definitely buy them without qualms

I wonder why people complain about this. If they end up in naija, its not because its being shoved down our throats. its because there's a demand for it in Nigeria. Same with Chinese products that are usually tagged "fake". China manufactures very good quality goods as much as low quality ones, but in nigeria, d demand for the latter is overwhelmingly more than the former cos of the price difference. I see nothing wrong with this as long as the marketers are honest about the history of the car.

Nigeria the Refuse ground where everyone dumps stuff they don't want

If it likes let it come, no matter what we will still survive

mtww i be think say flood go carry the cars come lagos
am very disappointed

I'm interested.... Na to clean am polish am.... Carry am enta village December. Wetin be submerged

OP,is not could be on its way...its already hia

Waiting for them like...