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.
Hi Rene
That article is from 2018 so is it still true today?
Don’t get me wrong because if they do have large reserves they need to start actually helping the disabled but personally even though I’ve asked for help from them I’ve always been flogged off with excuses as to why they can’t help me so if they still have this vast amount of money after the last little slap on the wrist they need hanging.
I still think the ideal of paying the GCB in advance just to help ease a personal cash crises would not be a good thing long term. Nearly everyday I see news items about folk saying they got to chose between “heat or eat” and yet the nobody should need to have their heating on this time of year and come next Winter when we really do hit the buffers the government will just say everyone is crying Wolf again.
Yes that would be a help and see no reason for that not being a standard procedure in off setting the GCB with the AP during collection.