A Porsche for Rs 5 lakh, and a BMW for Rs 8 lakh? Whoa! This is neither a dream nor a festive-season offer. It is today’s reality. Chennai’s flood-affected cars are being auctioned and sold at throwaway prices by online portals and car dealers.
After the floods, Chennai has become a sweet spot for buying cars. Audis with a list price of Rs 1 crore and above are now available for just 18 lakh or less, while other luxury cars are going for as little as Rs 2 lakh. And, there are many buyers regardless of the working condition of the cars.
The online auction portal Select Auto Mart, based in Chandigarh, has nearly 10,000 flood-affected cars put up for sale by insurers from Chennai, attracting buyers from across India. “Vehicles started coming in for auction 15 days after the floods, both high-end cars and ordinary ones,” says Gopal Krishan, owner of Select Auto Mart.
Copart.in, another online auctioneer, has more than 100 flood-affected cars in its yard in Chennai.
Actor Karthik Nagarajan, founder of Karthik Nagarajan School of acting, went to the auction site in Nanganallur. “Mostly middle-class people are thronging the place, both to look and to buy. They need to know the hidden risks behind it.” Karthik, however, recommends buying a new car — “Despite regular maintenance, you’ll have to shell out at least Rs 5 lakh annually. Think before you act, don’t waste your hard-earned money falling prey to the craze of showing yourself as a rich person!”
Bike racer Alisha Abdullah agrees with Karthik. “Apart from the luxury of owning a high-end car, its performance is also important. It is just crazy. Whatever trend is there, you’re risking your life and others’ lives as well. It is very unsafe, if such a car stalls on the highway.”
Even in BMW showrooms, flood-affected cars are being sold at dirt-cheap prices.
Though a few companies and car dealers clarify the financial and mileage possibilities, many are tight-lipped about it.
Not only to ride, many people are buying the car only to cannibalise it for spares in the grey market — for the car mechanics and dealers who are game for such products. Many say that the craziness can be stopped by awareness and word-of-mouth... but will youngsters (who are the primary customers) listen?
“Many five star hotels in Chennai are buying such cars, to pick up and drop customers. It is very cost-effective, as they can even afford to throw them away,” says a close source.
Dr Gowri Meena, a gynaecologist from Chennai, who lost her car in the floods, got her new car from Salem. And the reason — “Firstly, Salem is my hometown and secondly, I am not very sure about the cars that are been sold in Chennai right now. I am not saying they will sell damaged cars — but currently I’m doubtful about the quality control systems with the dealers.”
