I keep hearing about this massive amounts of money Motability have in their bank account but the “surplus” as you put it is in the cars we are driving unless they really do have a balance sheet of billions.
That’s incorrect.
What you’re talking about is “assets”. He’s talking about surplus, and he’s correct.
In fact, there was an official investigation into Motability, because of it.
https://www.autocar.co.uk/car-news/new-cars/motability-faces-investigation-financial-operations
£2.4b in reserve. That was four years ago, no idea about now, but it certainly doesn’t feel like they “wasted” £2.4b on us so far in the last four years.
In regards to the idea, yes. I’d argue that the situation now is worse for many than it was when they introduced the option last time – last time, many people on the scheme weren’t furloughed (due to disability, not working), so their income didn’t drastically change.
In these times, everyone’s losing money, and huge amounts to boot. So if there ever was a time to offer the option of a “prepaid GCB”, it’d be now. More so than in the pandemic. I’d argue that even using it as a form of “discount” would be better than what it is now (acting more like a cashback).
That’s just my opinion though.
Prior: SEAT Ateca Xcellence Lux 1.5 TSI DSG MY19, VW Golf GTE PHEV DSG MY23
Current: Hyundai Ioniq 6 Ultimate
Next: we'll see what's available in 2028.