Discussion
Have any Pistonheaders invested any money in this company, it’s a classic car buying and investing company. I visited the coffee shop part of the company yesterday but none of the staff could really tell me about the investment side of the company and no “car” guys were around. I’m only looking at a small investment of say £500 maximum but wonder what anyone else who has invested thinks about it and have they made any return. I’m not looking for a short term gain but interested in seeing an investment in an interesting car grow (or not). Couple of pics of some of the cars in the barn yesterday, a lot more cars are elsewhere off site. Opinions welcome. 
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[url]|https://thumbsnap.com/neRET6MZ[/url][url]|https://thumbsnap.com/9jkrCG9T[/url]Looks quite interesting. Ultimately you’re beholden to what someone else thinks will appreciate, which depends on their knowledge of the market. Market values look ok, some seem a little high but hey ho, they might know their stuff.
As we head into a cost of living challenge for many, I wouldn’t personally invest in something like this because it’s that makes it too risky for me but if you have the cash and can afford to lose it, go for it. It looks like you’re contributing to building someone else’s car collection though, they get to rent them out, there’s nothing about when they will sell it, There’s nothing outstanding pictured there in car terms, certainly nothing that is at the bottom of the appreciation dip. I’d expect them to be in a carcoon or something too
As we head into a cost of living challenge for many, I wouldn’t personally invest in something like this because it’s that makes it too risky for me but if you have the cash and can afford to lose it, go for it. It looks like you’re contributing to building someone else’s car collection though, they get to rent them out, there’s nothing about when they will sell it, There’s nothing outstanding pictured there in car terms, certainly nothing that is at the bottom of the appreciation dip. I’d expect them to be in a carcoon or something too
Edited by anonymous-user on Friday 29th July 15:50
pablo said:
Looks quite interesting. Ultimately you’re beholden to what someone else thinks will appreciate, which depends on their knowledge of the market. As we head into a cost of living challenge for many, I wouldn’t personally invest in something like this because it’s that makes it too risky for me but if you have the cash and can afford to lose it, go for it. There’s nothing outstanding pictured there in car terms, certainly nothing that is at the bottom of the appreciation dip. I’d expect them to be in a carcoon or something too
There are a lot more cars stored elsewhere off site at another location, the ones there are just to show two or three as such. Couple of screenshots from the investment website, it seems at the moment the only 2 to invest in are the E type or the Integra, neither I’m interested in. Now if they had a 3.0s Capri then I might be Edited by pablo on Friday 29th July 15:45
There is a Testarossa on sale at Simon Furlonger, albeit on 38,000 miles, for significantly less than their valuation which would suggest they are making a good profit. If the total value of money invested in their testarossa was £221,430, something really significant has to shift in the market to realise that level of investment…
Out of curiosity I’ll keep an eye on the DC2, if offer price in £20,740 I’m assuming that’s 1000 shares at £20.74? No one is retiring early on that…
MOT history on the Sierra isn’t promising either, needs two new tyres before it’s moving anywhere which may be indicative of their servicing policy and it’s done 500 miles in about 7 years, so bearings, bushes, gaskets etc are all on marked time.
The only other issue is you get a vote on when to sell, presumably based on shares held, 1 share = 1 vote?, but nothing says who chooses the price…
Out of curiosity I’ll keep an eye on the DC2, if offer price in £20,740 I’m assuming that’s 1000 shares at £20.74? No one is retiring early on that…
MOT history on the Sierra isn’t promising either, needs two new tyres before it’s moving anywhere which may be indicative of their servicing policy and it’s done 500 miles in about 7 years, so bearings, bushes, gaskets etc are all on marked time.
The only other issue is you get a vote on when to sell, presumably based on shares held, 1 share = 1 vote?, but nothing says who chooses the price…
Edited by anonymous-user on Friday 29th July 17:28
From their website:
“Any money you transfer to your Investment Wallet is protected by the Financial Service Compensation Scheme (FSCS) until that money is used to purchase shares in your chosen vehicle, at which point it is not covered by FSCS”.
So once you’ve bought shares in a vehicle you’re no longer covered by the FSCS. They could then wind up the company, keep the cars, and you’d get nothing back.
Also, I couldn’t see on their website what they charge for storage and overheads. Does anyone know?
I doubt anyone other than The Car Crowd will make a profit from this.
“Any money you transfer to your Investment Wallet is protected by the Financial Service Compensation Scheme (FSCS) until that money is used to purchase shares in your chosen vehicle, at which point it is not covered by FSCS”.
So once you’ve bought shares in a vehicle you’re no longer covered by the FSCS. They could then wind up the company, keep the cars, and you’d get nothing back.
Also, I couldn’t see on their website what they charge for storage and overheads. Does anyone know?
I doubt anyone other than The Car Crowd will make a profit from this.
Storage and maintenance for the first five years are in the original investment.
Website says “ There is a fee added for each share purchase to cover storage, insurance and maintenance for up to 5 years, this is calculated for each car but is always capped at a maximum of 10% of the share price. Full details can be found on the buy shares page prior to investing.”
Website says “ There is a fee added for each share purchase to cover storage, insurance and maintenance for up to 5 years, this is calculated for each car but is always capped at a maximum of 10% of the share price. Full details can be found on the buy shares page prior to investing.”
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