BUY2LETCARS.COM PAYS OUT FIRST INVESTORS (AND ITS CRITICS)
Buy2LetCars.com, a vehicle leasing model funded by people for people, has completed its first raft of funding cycles for 2015 - paying out its initial investors the promised 33% returns on their investment after three years. The scheme, which has faced fierce questioning into the business model, paid out all its investors who took the leap in 2012 when the fledging company was just starting out.
Now the company has amassed investors, contracts and accolades, including inclusion in the Barclays and BGF Entrepreneurs Index and the Mishcon CITY AM Leap 100 Index, identifying the company as one of the country’s fastest growing and exciting new businesses. A listing as taxi app firm Uber’s preferred supplier provides the company with a sound financial base, and also in 2015, the company’s leasing arm wheels4sure.com partnered with Toyota, Mercedes (dealer network) Fiat, Alfa Romeo and Jeep bringing its total supply manufacturers to eight.
Rumman Sohail, who works in the banking sector in Canary Wharf, was the very first investor in a car through Buy2LetCars.com. He invested money to grow his school fees fund for his children, and he received his final payment from Operations Director, Scott Martin. Mr Martin said “We would like to thank Rumman for believing in us and taking a chance on what was an unproven concept – we are incredibly grateful and proud to hand over his final payment. We have faced lots of commentary from observers in the past on the business model, however the results speak for themselves, as our happy investors will attest. Our funders are our biggest advocates.”
Also receiving his final payment was businessman, Nadeem Shokat, who invested in one car back in 2012. Mr Shokat, who provides high quality doors to residential properties, was so impressed with the service he received, he has since invested in more vehicles. Mr Shokat said “Every monthly payment has been on time, and to receive the first lump sum final payment has been most satisfying. I would recommend investing with Buy2LetCars.com to anyone – you make far money on something you know quite well – the car.”
Buy2LetCars.com has now leased near a 1000 cars nationwide through sister brand Wheels4sure.com, providing brand new cars to key workers and others with a proven regular income but who have struggled to access mainstream credit for a variety of reasons. The leasing arm constantly boasts a high client recommendation rating standing at 98%.
In 2015, the company moved it HQ to a 15 acre site in Godstone Surrey, and also secured a 1.5 acre distribution site that holds up to 250 cars, and now employs 25 people, including investors like Peter Goodwin, who was so impressed by the service and the concept, he asked to join Wheels4sure.com and deals with its corporate accounts.
For more information on Buy2LetCars.com visit www.buy2letcars.com and Scott Martin is available to answer questions on the business model and for interview.
For more information please contact Caroline Spence or Sarah Ross from Anicca on 0116 298 3726 or 07946 169482.