Van Rentals ?

Trigger

Full Member

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309
Read an article on the BBC news app about folks giving money [ investing ] to a van rental company £35,000 was quoted and the deal was that the company bought new vans with their and others money and rented the vans out, the money doner was given a contract saying that they had a financial interest in the said van to the value of their payment ,securing their investment and it apparently was repayable should they the doner decide to pull out of the deal , I cant see how that could ever work as we all know van values decrease and an ex rental vans value would decrease rapidly ,surely ? and they received a monthly payment from the company which was higher than a bank would have given them in interest if their money had been entrusted to the Bank or other investment vehicle., so a win win situation you would think?
Well like all good schemes it was OK for a while then the Company ran into several problems, vans were missing stolen they claimed but never reported as such, the new vans purchased originally turned out in some cases to be actually second hand vans , some inverters found that other folks held the same guarantee document on a specific van that others did,and this meant that the first investor on that vehicle was the winner as the other guarantees were worthless. investors lost their money although some did not it seems , Covid was blamed to a degree which is understandable I guess , but it did not sound like a sound investment to me ,The Company concerned went bust it seems. any one here caught up in this I wonder ?
 

TeamRienza

Full Member

Messages
209
Yes, long thread here,


At least one person joined the forum to seek advice.

Davy
 
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