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Car buyers caught in 'fraud' lose cars

  • Repossession threat after broker 'sells' cars twice
  • Dozens of buyers could lose out
  • Others have paid in full but have no car
Words ByDavid Motton

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Dozens of car buyers face losing their cars or their cash after the disappearance of a broker.

What Car? has been contacted by several readers who have bought cars through Gwent Fleet Management (GFM). They have discovered that contract hire and finance companies also claim ownership of their vehicle. One reader's car has already been repossessed and more seem likely to follow.

There's evidence that GFM has either brokered sales twice, once to a contract hire company and once to a private buyer, or has borrowed money against a car which it has already sold.

The What Car? readers who face losing their car were all introduced to GFM through another company, Buynewcars4less.

This firm has told What Car? that it took every precaution to make sure that GFM was above board, and that it has acted promptly to warn customers as soon as it learned of the problems with GFM.

Around 100 customers have bought cars through GFM after contacting Buynewcars4less. A company spokesman told What Car? that this includes around 10 customers who had paid in full but never received their car.

What Car? has tried to contact GFM but the companys phone line is now dead.

Anyone who has bought a car through GFM and is worried as to whether they are the true owners of their vehicle should contact DC David Nisbet of Gwent Police on 01495 232899.