Can someone join the club without a sponsor?
No, all members must be referred by a member or use a member’s link.
Will the car be registered to me?
No, it’s an asset of Privilege Car Club Ltd (PCC) so it will be registered with them.
Do I have to pay Car Tax?
No, it’s PCC’s responsibility to pay the Car Tax.
If the insurance is say £2k how does that work?
The £2k is deducted from the £20k and the balance that’s left is used to buy the car. The total budget is £20k. This also applies when a £30k package is chosen.
If I qualify in month 4 for a £20k Car and then qualify in month 6 for a £30k car, can I upgrade immediately?
No, you have to keep the initial car for 2 years.
Do I keep and also build my No Claims Bonus?
Yes you do.
Do I go and negotiate for my car with a dealer?
No, you can only pick your car. PCC will negotiate, as they need to check all warranties, etc.
Can I choose to take the income instead of the car?
No, you will need to re-enter the pool after which you can forfeit the upgrade for £1000 per month income. In the USA this will be $1200 per month and in Eire it's €1200.
Does the £1k cash payment come under Cash Gifting?
No, you can only receive cash payments when you have qualified at the 20k level or 30k level. You will then be classed as an Ambassador and you will then be an advert for the club. At that point PCC can reward members for helping others.
For example, by putting on a meeting, telling others about the club, speaking at our events and using your testimony. Technically you are not paid for recruiting.
Do we have to have an even amount of people in each pool?
No, but you do need to have a minimum of 20 active members in each pool for the 20k package and 30 for the 30k package.
What happens to the cars after two years?
They are resold. The resale value of course goes back into the company and is a reserve!
How does the company make a profit?
The company makes the profit from the resale of the vehicles and the excess that produces. It will make a lot of money as its really an asset management company. We intend to issue public shares once we have finalised our legal requirements.
In order to qualify for the £20k package you will need 81 in your pool with at least 20 active members in each sector. When the car is delivered does the matrix need to be maintained at 81 at least and 20 per sector?
YES! Because income is being built towards your new car in 2 years time. Although with exponential growth the pool will grow as 81 members are looking at getting their cars, and just by the virtue of you achieving your car, it means that the three people you’ve introduced are well on their way to reaching theirs as they have at least 20 plus in their pool.
Any restriction on use?
Some yes. They cannot rent them out for profit; they cannot allow others to drive unless they are on the insurance. If insurance is needed for public liability like a taxi driver, they will be required to sort that part of the insurance out themselves and notify the club. We cannot take responsibility for this.
Is there an annual mileage limit? If so is a financial premium charged for mileage excess?
We set an annual mileage of 15,000 as a guide, which is more than generous. When a person qualifies we will ask them to confirm what their annual mileage is as it will affect the cost of insurance. However, we do not charge excess mileage fees. But as a member of the club, we expect members to look after the cars in their possession.
Can vans be purchased?
It is possible but usually vans are used for work purposes so the insurance is likely to be affected.
Am I right that if you qualify for the £30k package you can take monthly cash amount and have a £20k car package?
NO - Money cannot be earned from your 1st pool, as it will be deemed as cash gifting. Money can only be rewarded on re-entry positions when they meet the criteria, as we are then rewarding members for helping others to qualify for their car and to manage their pool of people.
What happens if the driver loses their licence during the 2-year period?
My guess is they would simply have to look at the car parked on the drive and think how unfortunate they've been to lose it. Although they could lose it for health/age reasons. They would obviously not be allowed to drive a car. But they could apply to the club to make a change to the insurance policy for another family member, so they could drive it.
What happens if a member with a car dies? Can it be willed to someone who is not a club member?
It can be willed to someone else, but they must take over the membership and pay the monthly fee and annual position. I'm sure they would. They will need to inform the club so that changes can be made to the insurance etc…
Can a member add a cash amount to say a £20k package to make it a £25k package?
No - Because they do not own the car, and that would in effect be giving us money making them part owners
Can a member use his/her existing insurance company? Therefore perhaps turning a £20k package into a £22k package?
No - the club will negotiate with the insurance company, as we need to add gap insurance and make the insurance company aware that the club is the owner - not the driver. Although we will use their No Claims bonus and that will continue in the name of the driver
Does the computer place all new members automatically into the pool or can the sponsor (introducer) control the placing of his new recruits?
The sponsor is in control of their pools. You will see this on the latest website. The sponsor places direct referrals. If they don't the software will do it by default
Will you be doing any kind of KYC checks on people before they get their car? As I can see this could be open to abuse from criminals who will get a car and then disappear abroad. How will you safeguard about this kind of thing happening?
Good point. We are aware of this! Although they would be foolish to do this as we have their personal details and they would have had been referred by a member. Also they cannot sell it as they are not the owners. A tracking system would be in place and of course its insured against theft. So, the person doing this wouldn't gain anything except losing their membership and ability to drive a brand-new car - every 2 years for £50 per month.
What is the company refund/return policy?
There is a cooling off period of 14 days from the date of registration and is applicable in all countries. This means that if you change your mind within 14 days of signing up you will get an automatic refund immediately to the card you used to signup with. It may take 5-10 days to reach your account but the money will have been sent from us and on it's way to you.
Pioneer House, North Road, Ellesmere Port,
CH65 1AD (United Kingdom)
Pioneer House, North Road, Ellesmere Port,
CH65 1AD (United Kingdom)
Telephone: +44 151 550 4541 or 4542 Email: email@example.com