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Glenn

Anyone Heard Of Buy2Letcars?

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http://www.buy2letcars.com/

I can't understand how funding a depreciating asset can return a 33% gain on your investment over 3 years, as they claim. Not to mention the possible liabilities of having the car registered in your name. Lots of testimonials on the website from clients but none that have reached the end of their three year cycle and received their final payment.

Any thoughts?

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The exit fee of £9,000 seems to be the kicker. Without it you wouldn't break even with the £13,500 investment. Perhaps the likely outcome is the renters wont pay the exit fee and just give the car back or cuts a deal to transfer out. You then get lumbered with the loss as you try to go through some debt collector. You would also have the risk if the title you own is then returned early and nobody rents it again. But you'll have a car though right? ;)

Hey, that's a brilliant idea. Say I own a car lot, I setup this rent scheme. Essentially selling all my cars to investors to get rid at them at above market price. I rent them out to whoever has a heart beat and take a cut not caring if they default as I've already made my money. And that's it :] the investors have a car and I have loads of cash.

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There are endless ads about this on LBC radio - it makes a change from the endless ads promoting services for buy to let landlords (does no one else sell anything these days that isn't to do with renting things?).

Its usually the same smug guy who 'sold his business for a tidy sum' but hadn't been making much of a return on the savings but is now making returns of 13% a year thanks to buy2letcars. The ads get very irritating after you have heard them 100 times!

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Car rental firms seem to be able to make a tidy profit renting out the same depreciating assets.

They get the cars for nearly nothing have done forever it's a way of getting a new mainstream model out there. Prime recent example is the Vauxhall Insignia or some of the Seat models.

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