Compassionate Capitalism How I Turned 150 Nos into 1 YES

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The FCA considers that the financial position … makes the firm’s business model fundamentally unsustainable and places consumers who invest money at direct risk of loss,” a spokesperson said. It’s easy with hindsight to see that the Raedex Consortium’s investment model was preposterous. It’s also easy for people to say that of course they would never fall for anything like that. And yet, people do fall for scams like these and will continue to do so. Why? Despite the state we found him in, a roadside breath test which showed he was three times the limit and an evidential reading in custody showing that he was nearly four times the limit, he completely denied the offence and forced a trial on the basis that our equipment was faulty and that we had not followed proper procedure," he said. Our margins aren’t high, but we focus on fantastic products and pay a premium to our funders, we look after our staff well, our lessees get a premium product with a premium service, and our funders get a great return. The following year, Bond Review reported: "The figures for Raedex Consortium Limited, the group holding company, show limited information as the company used small company exemptions and did not release a profit and loss statement, or have the accounts audited.The figures are however clear that the overall company remains loss-making."

With this knowledge, he began to build the foundations of Buy2LetCars.com, a vehicle leasing model funded by people for people. Investors would receive a 33 per cent return on their investment after three years, while providing new cars to customers with a proven regular income, who struggle to access mainstream credit for a variety of reasons, via its leasing arm Wheels4Sure.com.Figure out why you’re starting the business: If the first answer is that you want to make money, then you’re wrongfooted already. What I do right now it’s not work for me, it’s a joy to go. You have to find your passion. The coronavirus pandemic has forced many lenders to revisit their risk mitigation strategies. But at Buy2LetCars, no changes are required. In fact, their risk mitigation strategy could almost have been designed with the pandemic in mind. Their leasing arm only leases cars to key and essential workers who are unable to access mainstream credit.

Depending on how much you invested, you could get an astonishing return of 11% per year, or 27% over three years.

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It found that from a sample of 102 cars, 55 were secondhand, even though the company said that used vehicles formed a minority of its fleet because its business relied on securing deep discounts on new ones.

Despite the state we found him in, a roadside breath test which showed he was three times the limit and an evidential reading in custody showing that he was nearly four times the limit, he denied the offence and forced a trial on the basis that our equipment was faulty and that we had not followed proper procedure.A lot of swearing followed, but to cut to the chase: his business group has just been put into administration, leaving investors fearing for their savings.

https://bondreview.co.uk/2021/05/21/buy2letcars-investors-invested-in-cars-which-didnt-exist-administrators-confirm/ Accounting firm RSM, which has been appointed as administrator, said it would try to recoup funds for investors. The FCA said the company claimed to own 1,200 cars but that there were question marks over these assets. The administrators are now evaluating the current financial position and options for each of the Raedex Group companies. They will seek to achieve the best outcome for each company’s creditors as a whole. I tried again, asking: “Can you guarantee that investors who put their money in now will get the full promised return and their capital returned?”In one of the more heated phone calls I’ve had lately, company director Reginald Larry-Cole bawled at me: “You’ve got it totally wrong, I’m telling you now because I will sue you like you won’t believe.” Reginald Larry-Cole is founder of Buy2LetCars.com and Wheels4Sure.com. Further reading on raising money