GVE London

[Matty]

So I've seen some of their stuff come up on social media before - all looked very fancy but typical "wide boy" clientelle and sales, although largely (or so it seems) via SoR.

However, rumours were they'd gone into administration. Cue people like AutoPap on Twitter announcing owners to pull their cars out before they get caught up. Some have gone to collect their new car they'd that purchased, only for the current owner to take it back due to the news -
Clicky from PH

Then you've got the owner of the business saying it's not true, they're just investigating "fraud" within the business, and it's BAU?
Instagram post

Seems to be yet another big dealer I never understood how they survived as long as they did given their "interesting" reputation. Bit like Keighley.

[Beany]

(allegedly, etc )

[Mito Man]

SOR =

[Carlos]

SOR =

Why?

[Carlos]

Can anyone brighter than me explain why you would file a NoI unless you you were going to the wall or trying to gain a significant reduction or write off from your creditors?

That's a pretty sleazy piece of spin in that video!

[Mito Man]

SOR =

Why?

Because when the dealer goes bankrupt you can have fun spending months and months going through the extremely slow legal process of proving your ownership.
And you never know the financial situation of a dealer. A lot of dealers that undertake SOR are cash poor, debt heavy.

[Carlos]

That's only if you allow them to put the V5 into trade and even then they don't own the car.

I've sold SOR twice and kept a key and the V5. I'm sure there are horror stories if you have given everything in favour of the dealer but that's not my experience.

[Mito Man]

V5 isn’t proof of ownership and neither is a car key and then you can have can have a wide range of cases where someone may have purchased the car but you don’t have funds yet etc - it’s a lot of risk of one side.