Buy2Let Cars Reviews 

I've invested over 60k in this company, could someone help me, on what do next as no on is picking up their phone.

According to the FCA register, the parent company (Raedex Consortium) is in administration as of today, 15/03/2021.

Well, well two weeks gone and still no money or indeed an update. I have been very pleased up till now with this company but am coming round to the view something is very remiss. As a couple of reviews have observed, the debt overhang is worrying. Unfortunately it is difficult to take any action that will speed up our payments.
I am unhappy at this wait and see attitude.

I've received a reply from the FCA today and they say the following:
"The restrictions the FCA has placed on the business do not freeze the accounts of Raedex. FCA has placed limitations on the size and nature of payments Raedex can make as a matter of prudence."
"Firms which are FCA authorised need to meet threshold conditions. If the firm can demonstrate to the FCA that it is meeting threshold conditions, then the restrictions can be removed and the firm can continue to trade."
"We have had a number of interactions with the firm over the structure of its business and more latterly over its financial viability which has culminated in the action we have taken."
"Please note, the requirements will stop Raedex from entering into any new car leases, however all existing leases will remain in place."
So Raedex is still receiving payments on the cars that I (we) financed and still able to make payments so we technically should be paid as normal. Yes the impossibility to lease new cars will have an impact on the longer term growth of this company if the restrictions are not lifted but as the company says that each contract financed a car than the payments should be possible as those cars are still being paid for. So I urge Raedex to start making some payments even if at a slower pace or partial ones.

I have been investing in Buy2Let Cars from the early days with all the savings I have & the returns are excellent, repayments paid on time every month until now. Why interfere on a whim. Investigate first then act, I need my money and to be able to reinvest for the future.

Been investing with Buy2Let Carsfor many years. Always good service and always received monthly payments on time and it is interesting to see the hated interferring FCA froze the bank accounts the day before the monthly payment. If they wish to investigate they could do that without stopping the company from making payments.

WE invested in buy to let cars in 2018. We have had no problems whatsoever. They pay the monthly return promptly as per the contract. They are always helpful and polite when one rings for anything. It is a business that has provided a way for a lot of people being able to have the cars they need to get around. Especially after being turned down elsewhere.An essential business. That must be encouraged to thrive.

We have been with Buy2LetCars for three years. They have never missed a payment. They are friendly and personal to deal with.

We first heard about them 6 years ago and followed them for three years before we went to see them at their offices armed with questions. They were helpful answered all of our questions and explained their business freely.

I have invested in Buy 2 let cars for over 8 years and the monthly payments were on the dot of 25th of each month and had three investments matured and funds received as promised.

This is the first time that due to issues with FCA I have not received my monthly payments. FCA?

As a long standing customer with B2L Cars (since 2013) I took a leap of faith with them and in that time the company has done exactly as it says on the tin and delivered 1000%, without ever missing a payment. Their customer service and track record has been nothing but exemplary!.

How can the FCA just put a freeze on the companies accounts when it is fully aware of the implications and effects on their staff and investors?

If in doubt talk to their customers, pay them a visit and let them walk you through every detail of their business model but do not let some haters bring this fantastic company and hard working guys down.
The treatment of this company is absolutely appalling and disgraceful.

We invested in the BUY to Let cars 2 years ago .

We have received our monthly repayments on approx 25 of each month as they originally promised.
Any communication we have had with the company has been dealt with most efficiently and i have no hesitation in recommending this investment .

I am absolutely astounded by what has happened to B2Let Cars due to the actions of the FCA, for whatever reason??
I have been investing with Buy2Let since 2014 and have found them exemplary in all their dealings with me. They have always been honest, helpful and open with regard to their business model.
In the last 5/6 years they have never missed a monthly payment or an end of term payment.
Have always been very pleased with the service received.

I have been an investor in Buy2Let Cars for over 7 years and they truly stand as one of the best investments in my portfolio. They have a great model and are open to scrutiny to any potential investors who takes trouble to look into it. Their communications are first class, answering any queries quickly and fully. Most importantly they have NEVER ever missed a monthly payment or a final payment over the three contracts I have had with them. Not only are payments on time but exactly as predicted in their forecast.
They are testament to an example of a fine business that investors should welcome and one I have proudly recommended to many business colleagues.
I am shocked at the treatment that the FCA have shown this great company that appears to have gone the extra mile to satisfy any concerns they may have.

In 2018, Buy2Let Cars helped me conclude my tireless exploration to find the right investment opportunity for my hard-earned money. Reflecting on the last three-years, today I feel that by far that was the best decision I have ever made. The most striking factor for me to invest with them in the first place was the genuine approach they demonstrated throughout. They never rushed or pushed me to make my decision. I have invested a substantial amount of money and last year I made my second investment with them which proves how happy and confident I am with this great company. I am also moved by the idea that as an investor, I support the most essential key workers with their traveling requirements hence, feel proud that I contribute to that worthy cause.

It sounds as though the FCA has bungled its handling of this one. It's concerns over the finances should have been addressed through an expert report / audit long ago rather than do nothing for years then issuing a Notice without all the facts.

It is clear from reviews that investors have had the promised returns & received a good service. However, that does not address the key questions of:

1. How have all investors received the promised returns without the pooling of investors' funds? This pooling could make the investment a Collective Investment Scheme which, by law, requires authorisation before it can be sold to the public.

2. How have all investors received the promised returns while the Raedex Consortium group of companies have racked up about £25 million of losses according to the accounts filed as Companies House? In other words has funds from new investors been used to fund these losses and to fund returns to earlier investors?

Both these questions were raised with the FCA by the Head of Financial Services Policy at Which? (who is certainly not a 'troll') back in 2019.

I have invested in B2LC and have to say they are brilliant - they do what they say they are going to do. They leave you alone to enjoy the benefits of your investment.
The 5 star reviews come from customers, all very happy customers - the one star reviews come from people who are not customers, so really are not in a position to comment - you wouldn't review a restaurant by standing outside looking in through the window.....
B2LC - Keep up your brilliant work.

I am very happy with Buy2 let cars. They are a smashing well organised, honest and caring company. They help key workers to travel to work.
I love them. Hands off FCA.
Ian Burston.

Following my son's exemplary & successful experience with Buy2Let Cars some 8 years ago, I followed suit and am now on my second 3-year car purchase. I have found the company totally professional & efficient, the monthly payment is in my bank on the 25th without fail. I love the ethics of compassionate capitalism the company employs displaying clarity & transparency from the day I went to listen to their quite unique business model: I understood it clearly & it works brilliantly, & has done so for the past 9 years.

To the trolls placing their toxic reviews - whatever is your goal? I can only conclude your aim is to bring down the company, causing stress, misery & loss of hard-earned funds to many - not to mention, ultimately depriving our vital front-line workers of their ability to lease transport to get them to their workplaces, maybe even rendering them unemployed. Why? We can only guess at your somewhat sinister motives.....

To the FCA, to whom I will be complaining personally - you state you have never received one complaint re Buy2Let - apparently you prefer to impose your sanctions on the company by listening to the fashionable trend of "fake news" media & "troll" reviews, rather than "getting to grips" with understanding a somewhat different business model & its accounting methodology, of causing the aforementioned misery to clients, be they investors or lessees under the guise of "protecting the customers"... It is You who will cause mass devastation to so many if you continue to freeze the organisation's bank account. Buy2Let are waiting to release this month's payments - and I want my money!

I have been with Buytoletcars for over 3 years, simple and clear to understand, great service. Payment on time until FCA interfered payment stopped.
I Have complain to the FCA if you are in the same position you must complain to the FCA.

This is straightforward, reliable, and good-willed company. There have never been any problems and I have always been promptly able to communicate with their team whenever necessary.