August 23, 2018
Car as a means of transportation was first built by Nicolas-Joseph Cugnot 1766, a French inventor who built the first working self-propelled land-based mechanical vehicle and years after years the invention of cars was revisited and re-built to meet up with time, demand, size, capacity, efficiency, class, performance, luxury, purpose, comfort, security and safety. Over the years car has been a tool and means of transportation from distance A to Z, as the increase in demand and number of end users multiply daily the automobile sector has become a competitive and lucrative sector for all walks of life.
Nigeria as one of the major vehicle importers in Africa ranking at No.6 with $460.4 million worth in 2016 statistics and if correct Nigeria will be ranking No. 3 in Africa by the end of 2018, importation of accidented and flooded vehicles from overseas made easy with the likes of Copart, Auctionexport and IAAI, car auction and export companies.
Importation of vehicles into Nigeria is no longer big deal, since the process of buying and shipping of this vehicles had been simplify by the exporters, auction companies and there is no check and balance system policy, thousands of Nigerians are now importing salvage vehicles with the aim of maximizing profit regardless of the risk and end users life in consideration. Many has died and many are still in the risk of driving and buying this kind of vehicles.
vehicles like this seems to be cheap and pocket friendly however, buying of salvage vehicles without having the knowledge as to what extend and level of damage before it was refurbish and package for sale in car stand is my major concern and i will be writing more about this in my next article.
Let’s take a look at this 2018 Grand Cherokee SUV with market cost price of $30,000 and damage repair cost price of $28,000 in the US auction price at $5,000 Auction export, airbags deployed, fender destroyed, damage chassis etc. The repair cost price is $28,000 by experts in the US, in Nigeria cost would be within $5,000 to $6,500 by road side panel beater, mechanic and upholsterer at the end of the repair safety which is the most important thing had been compromised by amateurs therefore puts the end user into high risk and danger.
There is no way a vehicles like this could be refurbished to meet up with manufacturer standard only if it’s rebuild by the manufacturer and experts. These are the kinds of vehicles we see everywhere in Nigeria with prices that catches buyers interest and if you must buy vehicles like this, it is a must you know the level of damage before you endanger your life and that of your love ones.