The Car Crowd - Thoughts?
Discussion
www.thecarcrowd.co.uk
Am I very late to the party in stumbling across this website? If so - please redirect me to the forum post!
What are peoples thoughts on these types of “schemes”? Naturally, I’m incredibly cynical about this sort of thing but that’s mainly because I don’t believe the last 10 years of appreciating classic car prices makes them an asset class!
Anybody an investor via this website?
Am I very late to the party in stumbling across this website? If so - please redirect me to the forum post!
What are peoples thoughts on these types of “schemes”? Naturally, I’m incredibly cynical about this sort of thing but that’s mainly because I don’t believe the last 10 years of appreciating classic car prices makes them an asset class!
Anybody an investor via this website?
Looks very dubious to me. In nearly forty years I have lent my car to Jaguar a few times, it was borrowed by the BBC for a documentary, and I have used it to take the bridegroom to a wedding several times. In return for a nice bottle. It even turned up on a rock programme the other week! But rent it out? I've never been asked, and the car is pretty well known. Many articles have been written on the two cars, which again were borrowed by the magazine in question. Octane, EVO, C &SC, and French magazines too. Not one even wants to put any petrol in the car either. One magazine told me that I would even have to pay the insurance! They did not get the car. Yes, there are specialists out there who rent cars out for film work, but these companies have the market pretty well covered. And again, I've been asked to turn up with a car for background use in return for just hospitality. The marque clubs will tell you that they receive such requests from time to time.
And as regards "rising market value"? My E-type has fallen by about 40% since 2017. but for me the most important part to consider is that you are "investing" money into a scheme where you have no say in the use of your money, nor how the scheme is to be run. Will the MD pay himself an inordinate salary and it'll go bust in a short time? I think stuffing your money under the mattress might be a better idea, even if it does make it lumpy. Or go out and buy yourself a little classic and enjoy it yourself.
And as regards "rising market value"? My E-type has fallen by about 40% since 2017. but for me the most important part to consider is that you are "investing" money into a scheme where you have no say in the use of your money, nor how the scheme is to be run. Will the MD pay himself an inordinate salary and it'll go bust in a short time? I think stuffing your money under the mattress might be a better idea, even if it does make it lumpy. Or go out and buy yourself a little classic and enjoy it yourself.
Edited by lowdrag on Sunday 22 November 10:35
People register their classics with these "Agencies" hoping it will get used for films and TV. I had mine with a couple of them for years and never heard a thing.
Mind you I was introduced to an agent through my club. I spent a very interesting day watching them film a scene for this BBC2 comedy program "Watson & Oliver".Thankfully this dopey women had to drive my car just 100yds. The rest was in front of a green screen. I was treated very well, A full English breakfast when I arrived, slap up lunch, and £500. My car appeared on TV for less than two minutes.
Mind you I was introduced to an agent through my club. I spent a very interesting day watching them film a scene for this BBC2 comedy program "Watson & Oliver".Thankfully this dopey women had to drive my car just 100yds. The rest was in front of a green screen. I was treated very well, A full English breakfast when I arrived, slap up lunch, and £500. My car appeared on TV for less than two minutes.
Hi, I run TheCarCrowd and wanted to post on here to show you that we are real and we are trying to help liberate classic cars for petrol heads everywhere.
I started the business as i had been buying cars together with a few friends for a couple of years and constantly struggled to find any real legal way to make sure our ownership stakes were clear. We were constantly lining the pockets of law firms and even then agreements were only semi robust. That meant we could never branch out wider than our small trusted circle and as others wanted to join it became tricky.
TheCarCrowd started as we found a way to form a limited company around the asset and then use the structured and understood legals around limited company's to control our shares.
We then started the platform to let anyone do it. If you have 5 friends of 500 you can now club together to buy your dream classic car and the platform can do all the paperwork, legal set up and filings. If you want we can also store, insure and maintain the vehicle on the groups behalf. We also have cars that we have offered up for funding as investment vehicles that we have sourced knowing that not everyone has a group large enough to share the cost of a car. The cars we offer are divided into 1000 shares making it affordable for everyone to have a piece of their dream car.
The in-year returns are based on our own experience with personal collections plus our connections via our founding brand ambassadors Natalie and Sam Pinkham (Sky F1 presenter and Virigin Radio DJ) to major UK media production companies. There is obviously no guarantee on returns via appreciation or in year dividends but we hope that our economies of scale will help us become the single stop for large media agencies looking for unique, rare and collectible cars for any paid work.
As with any investment your capital is at risk and we are an appointed representative of Kession Capital Limited who are authorised by the Financial Conduct Authority. Your investment is also directly into a limited company that owns the car outright as is independent of TheCarCrowd meaning should anything happen to us the car would be sold and your capital returned at the sale price of the vehicle divided by your holding.
If you have any questions please let us know via the website or come and see us at The British Motor Show stand F42 or NEC Classic Show later in the year. Thank you. David
I started the business as i had been buying cars together with a few friends for a couple of years and constantly struggled to find any real legal way to make sure our ownership stakes were clear. We were constantly lining the pockets of law firms and even then agreements were only semi robust. That meant we could never branch out wider than our small trusted circle and as others wanted to join it became tricky.
TheCarCrowd started as we found a way to form a limited company around the asset and then use the structured and understood legals around limited company's to control our shares.
We then started the platform to let anyone do it. If you have 5 friends of 500 you can now club together to buy your dream classic car and the platform can do all the paperwork, legal set up and filings. If you want we can also store, insure and maintain the vehicle on the groups behalf. We also have cars that we have offered up for funding as investment vehicles that we have sourced knowing that not everyone has a group large enough to share the cost of a car. The cars we offer are divided into 1000 shares making it affordable for everyone to have a piece of their dream car.
The in-year returns are based on our own experience with personal collections plus our connections via our founding brand ambassadors Natalie and Sam Pinkham (Sky F1 presenter and Virigin Radio DJ) to major UK media production companies. There is obviously no guarantee on returns via appreciation or in year dividends but we hope that our economies of scale will help us become the single stop for large media agencies looking for unique, rare and collectible cars for any paid work.
As with any investment your capital is at risk and we are an appointed representative of Kession Capital Limited who are authorised by the Financial Conduct Authority. Your investment is also directly into a limited company that owns the car outright as is independent of TheCarCrowd meaning should anything happen to us the car would be sold and your capital returned at the sale price of the vehicle divided by your holding.
If you have any questions please let us know via the website or come and see us at The British Motor Show stand F42 or NEC Classic Show later in the year. Thank you. David
Apparently you have to pay capital gains tax when they pay out (sell the car), which wasn't isn't made clear when you invest. It's a shame as I believe classic cars are capital gains tax exempt if you buy privately. Not sure if you pay tax on the whole amount returned or just the profit. If its the whole lot that would mean the car would have to go up about 30% just to break even, with their fees!!
Syd1977 said:
Apparently you have to pay capital gains tax when they pay out (sell the car), which wasn't isn't made clear when you invest. It's a shame as I believe classic cars are capital gains tax exempt if you buy privately. Not sure if you pay tax on the whole amount returned or just the profit. If its the whole lot that would mean the car would have to go up about 30% just to break even, with their fees!!
Yes, they are. Anything mechanical (ie with moving parts) is considered to have a finite life and exempt to CGT from private individuals, but not if used for business. Probably why so many of the very wealthy have 'collections' and never drive them. 
Similarly, antique clocks are CGT exempt.https://www.gov.uk/capital-gains-tax-personal-poss...
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