At Buy2LetCars, we take your investment funds for 3 years and we purchase brand new vehicles, which we lease to the general public for those same 3 years. As you can imagine, there are a huge number of tasks which we need to deal with to keep that vehicle working and making money. After all, this is no longer just a depreciating car, it is a money-machine, but things do need to be dealt with which could stop it from paying for itself.
When you invest, we promise you a ‘hands-free’ experience at no cost to you. So what do we do to make sure that you will never have to get involved with the management of that vehicle?
These are just some of the responsibilities we undertake on your behalf:
- First, we must negotiate a great deal directly with the manufacturers as we do not buy from local dealerships.
- Ensure there is an extensive 3 years manufacturer’s warranty.
- Register the vehicle with DVLA.
- Each vehicle is taken to our delivery centre in Erith, Kent where we dip into our pocket and fit an innovative telematic payment collection system similar to pay as you go mobile technology.
- Again, at our own expense we also fit a GPS tracker to make sure we know where each vehicle is at any time – our cars are not allowed outside mainland UK.
- Cars are then handed over to our leasing arm Wheels 4 Sure where they find a suitable and reliable customer for the next 3 years.
- This customer is credit checked and they must provide 3 months bank statement which proves they can afford the payments.
- An employment reference is obtained – regardless if they are NHS or private.
- Once approved, the customer pays an initial rental and can now collect the car.
- Our delivery centre may need to deliver the vehicle to the customer anywhere in England & Wales – at no cost nor involvement to the investor.
- When each month’s payment is collected, we issue an 8-digit code to the customer who enters it into a keypad kept in the glove compartment – no payment no code. They simply cannot drive the vehicle without this code. Our defaulted payment rates are very low as no customer wants to have a car sitting outside and unable to drive it. You the investor is never impacted if their payment is late.
- If the car is ultimately repossessed, we simply pass it onto a waiting customer – at no loss to the investor.
- If the customer gets a parking fine, our accounts department deals with it – with no involvement of the investor. The same is true for speeding tickets.
- Each vehicle is serviced every 6 months by Quick Fit. This is free of cost to the customer and at no involvement or cost to the investor.
- Before each vehicle is handed to the customer, we must approve their insurance.
- The customer’s insurance is monitored prior to issuing the monthly code. This is done on a system called ASKMID.COM https://ownvehicle.askmid.com/ which is the system used by the police to check insured vehicles.
- If the car is written off, we deal with the customer’s insurance company, provide a replacement vehicle for them and finally purchase the replacement. You the investor is in no way impacted financially nor will you be involved.
This list is by no means exhaustive but shows the lengths that we go to in enabling you the investor to have a passive investment and at no additional cost to you.
In contrast what do you need to do as an investor?
- Invest from a minimum of £7,000.
- Provide us with an active bank account to receive your monthly income.
- Check your account on the 25th of each month.
- Tell us if your bank account details change.
This is the sum total of your responsibilities as an investor, which is why even clients who are very senior in age appreciate our business model as there is very little for them to do except receive returns of between 7% IRR to 11% IRR.
To request a copy of our recently filmed video presentation by our directors explaining this investment please email email@example.com or call 02082896667.
R.Greenland – Funding Consultant