Sell your car with us - WARNING - Into Administration

[Driver101]

Really terrible for all those caught up in this. I hope they get their car or cash back.

However, how many times has the warning been given about using this type of business to sell a car?

[anonymous-user]

madalin-9hqhl said:

I’ve sold 2 vehicles with these guys totalling 42k. Haven’t got any troubles getting the funds from them. Something must’ve gone wrong this year.

First post

[MDMA .]

madalin-9hqhl said:

I’ve sold 2 vehicles with these guys totalling 42k. Haven’t got any troubles getting the funds from them. Something must’ve gone wrong this year.

Your only post in 4 months and it's good news about a company that scams people out of money.

[Dr Interceptor]

One of the posts on the trustpilot link mentions a £500k court decision going against them, or the owner(s). Anyone able to search to see what that might have been?

I shouldn't think many companies of this size could stomach a £500k charge having to go out immediately, without some major financial restructuring.

[Turfy]

jamoor said:

Seems like a scam

Never leave a car unless you have the money.

It will be interesting to see the offers that were made on cars when they "knew" they were in trouble.

All these guys low-ball as a business model so if the offers were substantially high, compared to the usual offer/comparable companies....Hmmm

When Indian, Cypriot, Icelandic Banks saw trouble on the horizon the first thing they did was offer a very attractive APR % on savings to draw monies in...we know the rest.

Anyone on here who has been caught up in this was the offer that was made to you very attractive vs. comparables??

Edited by Turfy on Tuesday 17th September 15:48

[madalin-9hqhl]

R8Steve said:

I suspect something went wrong before the company even started...

I think you might be right. They used to be GP Cars when i sold the first car, then they moved and changed their name to sell your car with us when i sold the second one.

[StottyGTR]

madalin-9hqhl said:

I’ve sold 2 vehicles with these guys totalling 42k. Haven’t got any troubles getting the funds from them. Something must’ve gone wrong this year.

Not a fishy first post at all.

Good luck to those who left a car with them. To the directors, if any money isn't returned I would be very worried. A lot of people will take this extremely hard and will most certainly come looking for you for revenge. We can only hope they find it. wkers.

[madalin-9hqhl]

MDMA . said:

Your only post in 4 months and it's good news about a company that scams people out of money.

I got this email today:

Dear Sir / Madam

RE : SELL YOUR CAR WITH US LTD

We are reaching out to you as the above company has gone into liquidation. If you have a car for sale with them please contact us on 01992 566 665 or 07802 646 773.

Then i googled their company and this forum turned up in the results.

[red_slr]

madalin-9hqhl said:

I got this email today:

Dear Sir / Madam

RE : SELL YOUR CAR WITH US LTD

We are reaching out to you as the above company has gone into liquidation. If you have a car for sale with them please contact us on 01992 566 665 or 07802 646 773.

Then i googled their company and this forum turned up in the results.

[R8Steve]

Dr Interceptor said:

One of the posts on the trustpilot link mentions a £500k court decision going against them, or the owner(s). Anyone able to search to see what that might have been?

I shouldn't think many companies of this size could stomach a £500k charge having to go out immediately, without some major financial restructuring.

See the administrator's progress report from the 2nd of November for GP cars Herts Ltd for pretty much all you need to know about what has happened.

[Driver101]

R8Steve said:

Dr Interceptor said:

One of the posts on the trustpilot link mentions a £500k court decision going against them, or the owner(s). Anyone able to search to see what that might have been?

I shouldn't think many companies of this size could stomach a £500k charge having to go out immediately, without some major financial restructuring.

See the administrator's progress report from the 2nd of November for GP cars Herts Ltd for pretty much all you need to know about what has happened.

Could you link or copy and paste? It'll save everyone trying to find it.

[Christmassss]

https://s3.eu-west-2.amazonaws.com/document-api-im...

[R8Steve]

Driver101 said:

R8Steve said:

Dr Interceptor said:

One of the posts on the trustpilot link mentions a £500k court decision going against them, or the owner(s). Anyone able to search to see what that might have been?

I shouldn't think many companies of this size could stomach a £500k charge having to go out immediately, without some major financial restructuring.

See the administrator's progress report from the 2nd of November for GP cars Herts Ltd for pretty much all you need to know about what has happened.

Could you link or copy and paste? It'll save everyone trying to find it.

I did try, it's a massive link and it's a PDF so can't copy paste, it's on companies house under filings for that company.

[mitch_]

I personally found the email from ‘The Management’ the most interesting bit.

“Our bank account was hacked twice”. Exceedingly doubtful as you’d be suing your bank. Unless it was just a member of staff helping themselves....

“We had two vehicles stolen and the insurance didn’t pay out”. Probably because you didn’t adhere the terms of your insurance policy. Leaving keys on desks, in drawers, no alarm in the building, security cameras turned off.....

“We had a vehicle written off and insurance didn’t pay out”. Probably because, once again, you didn’t adhere to the terms of your policy. Using a customers car without trade plates, let the valeters go joy-riding.....

“We lost a court case for a substantial amount of money”. You must have done something substantially wrong then. Perhaps not paying for cars that had been sold.....

But this is my favourite:-

“We found an investor to come in with an investment of £400,000 for 40% of the business, unfortunately, at the last minute he pulled out”. All gentleman know that pulling out at the last minute can be a risky strategy but often for the best. But seriously, the business is tanking, out of cash, no assets worth talking about. So somebody comes in and values this amazing opportunity at £1,000,000 and offers to buy 40% of it?! Dream on.

I wonder if these guys actually end up believing the nonsense they put out.

On a final note, I would be concerned by the choice of Administrator/Liquidator. I have had prior dealings with them and they definitely weren’t interested in maximising value for the creditors. Just the fastest road to selling the assets and closing the file.

My sincere sympathies to those who are caught up in it all.

[4941cc]

mitch_ said:

I personally found the email from ‘The Management’ the most interesting bit.

Quite, any one of those eventualities could be considered unfortunate, but would trigger a systemic review of practices within the business to prevent future occurrences, or similar potential weaknesses that could result in causing the company to become insolvent.

To fall prey to all of them and several on multiple occasions screams a worrying lack of management scrutiny/oversight/processes/control. Isn't that what the job of being a company director is entirely about? Or have I misunderstood?

[Dr Interceptor]

R8Steve said:

See the administrator's progress report from the 2nd of November for GP cars Herts Ltd for pretty much all you need to know about what has happened.

Cheers, quite enlightening. Shows this whole stshow has been developing for years.

[Sir Bagalot]

mitch_ said:

On a final note, I would be concerned by the choice of Administrator/Liquidator. I have had prior dealings with them and they definitely weren’t interested in maximising value for the creditors. Just the fastest road to selling the assets and closing the file.

As with many other firms of the same nature they will look at the assets and then look at maximising their fees. Remember that they get paid first, and they will always get paid in full.

[2 sMoKiN bArReLs]

Sir Bagalot said:

mitch_ said:

On a final note, I would be concerned by the choice of Administrator/Liquidator. I have had prior dealings with them and they definitely weren’t interested in maximising value for the creditors. Just the fastest road to selling the assets and closing the file.

As with many other firms of the same nature they will look at the assets and then look at maximising their fees. Remember that they get paid first, and they will always get paid in full.

I've (unfortunately) had plenty of experience of the insolvency industry...tis indeed a very murky trade

[R8Steve]

Dr Interceptor said:

R8Steve said:

See the administrator's progress report from the 2nd of November for GP cars Herts Ltd for pretty much all you need to know about what has happened.

Cheers, quite enlightening. Shows this whole stshow has been developing for years.

Debtors - Monies due from a connected company is probably the most telling part. Along with a bankruptcy very soon after, oh, and a name change for good measure.

I always do a quick 10 minute check of any company i have dealings with if it involves a substantial transaction, even googling the companies name raises red flags in this case though.

[anonymous-user]

On a completely unrelated note, Here is the address of a good place, they are giving out free money, but only if they have sold your car, go to this address and ask for the money you are owed, but only ofcourse if the idea was for Steve the MD of sell your car to sell your car....

24 Monson Road, Broxbourne, Hertfordshire, England, EN10 7DY