Buy2Let Cars Reviews 344

Buy2Let Cars has been a reliable option for investors for years, with many completing successful cycles. Payments have been consistent, and their business model, while not perfect, seems sound overall. The company’s approach could use more clarity, but it still offers value in the car leasing space. Solid choice, despite recent challenges.

I’ve had a mixed experience with Buy2Let Cars. Initially, things seemed to run smoothly, and payments were received as expected. However, more recently, there’s been a lot of uncertainty surrounding the company, which has been worrying. Some investors seem satisfied, but concerns about financial stability and communication are hard to ignore. It’s not all bad, but it’s not as reliable as I’d hoped.

Company went bust or something never got anything back from them I don’t know what’s happening

What a bunch of robbers!

Was going fine, I was receiving my investment back and was about to get the last lump sum and SFO went and messed it up, now I'm in the red, they should have waited for ppl to get their money back and approach them quietly to not reinvest or something to that affect....then busted them

Invested 4 cars. Bailed out first 3 years. 104 pounds per car per month ? 14k per car? No thanks not worth my time. Glad to not reinvest. Kept hassling me to do so but didn't.

The Administrators, RSM, are devouring the carcasses of Buy2LetCars to stuff as many millions of pounds into their pockets as they can.

It's one thing for Buy2LetCars to have let down investors in the way they did, with the Directors taking us all for a ride with what have turned out to be blatantly false claims, but for the Administrators to then take what was left in the company to gift themselves the biggest pay packets of their lives is incredulous.

RSM only care about themselves and are doing everything possible to drag out the Administration process so they can continue to earn a pretty packet at the rate of several hundred pounds an hour!

Shame on the staff at Buy2LetCars who made chunky amounts of money month-in month-out while lenders were deceived.

Shame on you RSM.

If you haven't been getting updates from RSM then email them at Buy2let.restructuring @rsmuk.com

I got a reply the following day and had to send my investment details.

They may not have you details.

Buy2let may have "filed" them in a safe place before the ponzi scheme collapsed!

I have been in touch with the administrators
And trying to read there proposals is mind boggling to be honest!!….
They said they will update me as and when the information is available. Honestly I am not holding my breath about getting anything back!!…?

Anyone heard anything how long its going to take? It is really frustrating that still no news. I am still annoyed that within the month of this investment company gone into administration. At least they should have courtesy to update the investors.

Anyone heard anything new this is taking way to much time should have heard something by now ?

Non-profit Creditor Support Group available

buy2letcarsinvestorhelp

rightchoiceinsurance......Paid for years car insurance and got nothing.This is a SCAM.

Updated news from CityAM

The Serious Fraud Office (SFO) has launched an investigation this morning into the Buy2Let Cars parent company Raedex Consortium for an unauthorised customer investment scheme.

The SFO, the National Crime Agency (NCA) and the City of London police searched two premises in connection to the scheme and arrested one person yesterday.

The person was interviewed and has since been released, pending further investigation. Another person has also been interviewed but not arrested.

Raedex Consortium, which also owns PayGo Cars, Wheels4Sure and Rent2Own Cars, set up a customer investment scheme that was not approved by the Financial Conduct Authority (FCA).

In March, the FCA confirmed that Raedex was part of an investment scheme where customers invested in car leases through its car rental companies.

The FCA stopped Raedex from entering into any new car leases in February while allowing existing lease agreements to continue.

The investigation is ongoing and its progress will be updated on 10 May.

So Buy2Let Cars parent Company Raedex Consortium Ltd are now in Administration - who would have guessed that !!!

My previous review was removed after a complaint by Buy2Let Cars - here it is again.

Banned by the FCA according to Sunday Times today
There is an article in the Sunday Times today advising the FCA have banned Buy2Let Cars from leasing any more new cars as they are concerned about the Company finance. Be very careful out there.

With no new money flowing into the Company I wonder how much longer it will survive ?

Read the other reviews about the Company finances.

RSM UK The 'administrators' are appalling. They promised to write to all investors within a week. I'm still waiting three weeks on.... I now see they're making a mess of Wheels4Sure too (see the latest Trustpilot review re. a car at the end of its lease).

RSM UK don't answer emails or phone calls via the routes given.... BUT you can circumvent this by calling their head office on (0)20 3201 8000.

DEMAND TO SPEAK TO ONE OF THE CHIEF CLOWNS, GRAHAM BUSHBY or MATT HAW.

In response to Yessan, the google link doesn't work - is there another link we can use?
I too invested £14K just 4 days before they were told to stop trading by FCA

I know by the accounts, buy2let has been losing money, but nothing in comparison with Deliveroo, who have never made a profit, and lost 224 million lost year alone, and paid its owner 14.4 million. Why have not the FCA come down on Deliveroo, but come down on buy2let? Have the banks got something to do with this, as they have the lease market tied up, and don't like the competition? Deliveroo are also likely to come unstuck with pensions and holiday pay, like Ubu

I have been investing for 5 years and had no reason to be suspicious as I had always been paid on time. I dealt with Tom and Brett and they were always very professional. I made another investment in February and it went out of my bank account on the 18th and I learnt of the “freeze” the following day on the 19th February. They must have known at that point there were problems. All investments carry a risk but I am devastated by all of this and have potentially lost a large amount of money. I am at a loss as to what I do now. Any advice would be appreciated.

Their website is back up and running and is looking for investors so be aware.