IMPORTANT REMINDER: Please make sure your posts do not contain any personally identifiable information. If you are uploading images, please take extra care that you have redacted all personal information.

Buy2Let Cars Administration - Wheels4Sure

in Motoring
42 replies 3.6K views
jimjamesjimjames Forumite
16.7K Posts
Part of the Furniture 10,000 Posts Photogenic Name Dropper
Forumite
Buy2Let Cars is part of an investment scheme but also uses a brand called Wheels4Sure to sell PCP loans for cars to consumers. Has anyone here taken out a car with Wheels4Sure, have you had any communications from them at all about this?

There is a thread about the investment side on the Savings/Investment forum but this was more about the car loan part
Remember the saying: if it looks too good to be true it almost certainly is.
«1345

Replies

  • MeToYouAndMeMeToYouAndMe Forumite
    13 Posts
    10 Posts First Anniversary
    Forumite
    Hi, I am a customer of W4S and very confused about what is going to happen. The car is due to be taxed soon but I can’t tax it myself (usually the company taxes it and then I pay them).  It is also due insurance but again, the registered keeper no longer exists . What is likely to happen? 
  • MeToYouAndMeMeToYouAndMe Forumite
    13 Posts
    10 Posts First Anniversary
    Forumite
    No communications; it seems investors and customers all received the same emails at the same time . 
  • AdrianCAdrianC Forumite
    42.2K Posts
    Eighth Anniversary 10,000 Posts Name Dropper
    Forumite
    Anybody who is a creditor to a company that goes into administration should be contacted by the administrator. They will still owe the payments as per normal, until such time as the administrator comes to them with an alternative.

    I suspect in a situation such as this, the car/finance packages will be sold on to another financier, perhaps at a discount to enable them to become profitable.

    The people who take the hit for that are the creditors of the company in administration.
  • MeToYouAndMeMeToYouAndMe Forumite
    13 Posts
    10 Posts First Anniversary
    Forumite
    I’ll continue to pay as normal (it’s been stated that we should) but I’m concerned I can’t tax it . There’s no contact details other than for the administrators who are only dealing with urgent queries . I’ve emailed them but I’m not expecting a response any time soon which leaves me in a predicament ... a car I can’t insure or tax . 
  • AdrianCAdrianC Forumite
    42.2K Posts
    Eighth Anniversary 10,000 Posts Name Dropper
    Forumite
    Taxing it was your responsibility?
    It's not on DD?
    Do you have the V5C?
  • jimjamesjimjames Forumite
    16.7K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Forumite
    Hi, I am a customer of W4S and very confused about what is going to happen. The car is due to be taxed soon but I can’t tax it myself (usually the company taxes it and then I pay them).  It is also due insurance but again, the registered keeper no longer exists . What is likely to happen? 
    Thanks for the update. The registered keeper still exists, essentially everything is the same for you just the people running the company are the administrators now but the company does still exist and it shouldn't affect anything you are doing at the moment.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • MeToYouAndMeMeToYouAndMe Forumite
    13 Posts
    10 Posts First Anniversary
    Forumite
    The v5 document was never seen by us or sent to us as we don’t own the car , we are leasing it . W4S would pay the tax and then we would refund them via a card payment . 
    Good to know I can still insure it . But without the v11 / v5 or any way to contact anyone other than the administrators I’m not sure how we’re going to tax it . 
  • justworriedabitjustworriedabit Forumite
    916 Posts
    500 Posts Photogenic Name Dropper
    Forumite
    This outfit advertised heavily and even late last year I think. We were tempted to invest in they but as they said, if it sounds too good to be true then probably it is.
    Those not sure if toy buy road tax insurance etc etc - check the T&C's and I'm sure you are responsible for keeping the car road legal ie any defects you get them reported/fixed, no tax, insurance etc you do but read your T&C's.
  • jimjamesjimjames Forumite
    16.7K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Forumite
    The v5 document was never seen by us or sent to us as we don’t own the car , we are leasing it . W4S would pay the tax and then we would refund them via a card payment . 
    Good to know I can still insure it . But without the v11 / v5 or any way to contact anyone other than the administrators I’m not sure how we’re going to tax it . 
    How have you taxed it before? Exactly the same process should still apply.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • MeToYouAndMeMeToYouAndMe Forumite
    13 Posts
    10 Posts First Anniversary
    Forumite
    It has been taxed by W4S previously . They taxed the vehicle themselves ; they would then send me an email asking to call to pay for the tax and I made a card payment . I can’t do that now . The only contact I have is the administrators but they aren’t going to be quick to respond . 
Sign In or Register to comment.
Latest MSE News and Guides

British Gas prepay meter users...

...to pay less for gas from 1 April

MSE News

The 'odd Easter flavours' thread 2023

What bizarre food stuffs have you spied?

MSE Forum

Energy Price Guarantee calculator

How much you'll likely pay from April

MSE Tools