Buy2Let Cars Administration - Wheels4Sure

justworriedabit

molerat said:

Looks like the wheels have really fallen off now

https://uk.finance.yahoo.com/news/fraud-office-probes-buy-let-121654741.html

We raised a few questions with them to invest - what we got back confirmed our belief it was too good to be true but that was a good 4/5 years ago and whenre we heard their ads, i had this feeling i many have been wrong but the rest is history

C95

My car leaser with Wheels4Sure is coming to an end. I collected my car from South London when they were still trading as normal now to return the car they want £145 or asking it to be dropped in Leicestershire. 
My contract says -

"you agree in writing to pay us the costs of delivery or collection (at the end of the contract), if applicable, which will be calculated based on £1 per mile between our Nominated Premises and the place you would like the Vehicle to be delivered or collected"

I told them I am happy to pay for the distance from my collection point or I can drop-off in London but they won't listen. Any advise to save a bit on this would be much appreciated.

mwhatson68

We have had our W4S car for 3 years, finishes beginning of July
we got another car last week and changed insurance over to new car
We’ve been harassed by whoever is dealing with situation about breaking our contract as car not insured, they’ve now turned car off
We explained we needed to get another car due to the situation and the lease car is safe and can’t be removed only by ourselves 
they have been very nasty and unhelpful to this situation which like all of you is not our doing
ww have told them we will return the car to where we collected it as they want us to drive it 4 hours away or estimated cost of collection is £350 
we said no!!!
we seem to be getting punished for this company going under

Grumpy_chap

mwhatson68 said:

We have had our W4S car for 3 years, finishes beginning of July
we got another car last week and changed insurance over to new car
We’ve been harassed by whoever is dealing with situation about breaking our contract as car not insured, they’ve now turned car off
We explained we needed to get another car due to the situation and the lease car is safe and can’t be removed only by ourselves 
they have been very nasty and unhelpful to this situation which like all of you is not our doing
ww have told them we will return the car to where we collected it as they want us to drive it 4 hours away or estimated cost of collection is £350 
we said no!!!
we seem to be getting punished for this company going under

So, to be clear, you have a lease car from W4S until July (about 4 weeks away from now).  Is that correct?

It is entirely reasonable that the lease company require that car to be insured all the while the car is in your possession. 
Even if you are not using the car, damage could still occur to the car:

• theft
• break in
• vandalism
• collision damage
• fire

Even if you have the car in a secure location where theft risk is greatly reduced, other risks could still realise.  Collision does not have to be another vehicle - a roof tile could fall for example.

You have your new car already and needed that insured but most insurers will provide cover for two vehicles in the circumstances of changing cars - it is a common scenario.  Did you ask about that?
Alternatively, you could have got short term insurance on one of the vehicles.

Have you declared the car SORN?
Otherwise, you need continuous insurance anyway regardless of what the lease company consider:
https://www.theaa.com/driving-advice/legal/continuous-insurance-enforcement