Buy 2 Let Cars - Administrator Report - How Much Money Lost?

 The administrators of the companies in the Buy2Let Cars group have released an initial report of the situation which doesn't make great reading if you were an investor.

B2L Cars in numbers

834 investors

3609 investments (loan agreements) 

596 vehicles listed

Only 435 vehicles actually leased out

£40 million owed to investors 

So each investor had on average made  over 4 separate investments into the company yet overall only 596 vehicles existed for 3609 investment agreements. 

Average amount per investor is £47,961

Average cost per vehicle is £67,114

These are quite astonishing numbers particularly the value per vehicle. If £40 million was invested and only 596 vehicles exist then the average cost per vehicle is is £67,114. Based on the credit worthiness of the borrowers paying high rates of interest there is no way the cars they leased were anywhere near that number.

As I pointed out back in 2019 when I was offered an opportunity to invest at a seminar this was a high risk investment with the risk of losing all your money. It was impossible at the time to know how high that risk was because you couldn't see the details that the administrators are now revealing.

You can read the full Administrators report on the Companies House website for Raedex consortium



The administrators are not currently able to give an indication of the returns likely to investors in Buy2Let cars but the estimated realisations of the cars once sold is a few million compared to outstanding investments of £40million which gives some indication of the possible losses.

The SFO Serious Fraud Office are currently investigating B2L cars and based on the numbers above it doesn't seem very surprising.

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