Buy2Let Cars Goes Bust - Will Investors get any money back?
This blog had previously highlighted the promotion techniques of Buy2Let cars and warned that these sort of promotions to unsuspecting investors were a possible disaster waiting to happen. It looks like that has now come true with the company going into administration because it was insolvent. The FCA information below shows some serious discrepancies over the details provided by the company compared to the officially listed records of vehicles. https://damn-lies-and-statistics.blogspot.com/2019/11/buy2let-cars-investment-seminar.html There are some worrying bits of information coming out that suggest the model publicly promoted by Buy2Let cars wasn't actually what happened in practice. Investors may have thought they were buying an actual car but the cars weren't owned by the entity that they handed money over to. The FCA statement on the supervisory notice that they have been told thet Buy2Let cars had 1200 customers and 1200 leases. There are 4 companies in the group, Raedex