Buy to Let Cars ?
Discussion
Hi Guys,
Does anyone have any experience or heard of the above?
http://www.buy2letcars.com/
Regards
IceBoy
Does anyone have any experience or heard of the above?
http://www.buy2letcars.com/
Regards
IceBoy
Wouldn't touch it with a bargepole. At first glance:
- No real detail other that seemingly risk and effort free high yields - unless you look at the pyramid sounding "Simply refer others and build a £250,000 per annum business income."
- Totally focused on taking your investment. NO detail about how customers access the cars
- Heavy emphasis of impressive sounding Buckingham Palace Road address (bet it's a serviced suite)
- Unimpressive biogs and qualifications
- No details of how they're backstopping the returns
- Random range of logos implying, but not stating, extensive media coverage
LooneyTunes said:
## Heavy emphasis of impressive sounding Buckingham Palace Road address (bet it's a serviced suite)
Their 'Office' Picture on their website lifted directly from easyoffices website:www.easyoffices.com/images/property/BuckinghamPala...
http://www.buy2letcars.com/meetings/files/stacks_i...
Also their domain name is cloaked behind a privacy provider.
Sounds a bit too good to be true.
Just doing the maths, to get the £17,955 return they would have to charge £600 a month before any admin fees etc, which seems quite a lot for a £13,500 car. But then I don't really know much about leasing, so I could be wrong. The actual return is 33% over 3 years, which is more like 10% pa. Better than a savings account for sure, but comparable to B2L houses.
I quite like the business model, but don't like the look of the company for some reason.
Just doing the maths, to get the £17,955 return they would have to charge £600 a month before any admin fees etc, which seems quite a lot for a £13,500 car. But then I don't really know much about leasing, so I could be wrong. The actual return is 33% over 3 years, which is more like 10% pa. Better than a savings account for sure, but comparable to B2L houses.
I quite like the business model, but don't like the look of the company for some reason.
Noticed this in Autocar today http://www.autocar.co.uk/blogs/anything-goes/want-...
Seems to still be going but agree website looks dodgy...
Seems to still be going but agree website looks dodgy...
a little research reveals this is the other side of the business - http://www.wheels4sure.com/cars.php
So the cars are going out to customers who couldn't get credit elsewhere, very risky...
So the cars are going out to customers who couldn't get credit elsewhere, very risky...
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