Any risk here?
Discussion
I have used Motorway.co.uk before and first time it was really smooth, getting a great price for my BMW in the pandemic, plus I got 1k over Motorway's estimate.
However, I recently sold my Mini (the wife's car), and things got into a right mess. After getting bids on Motorway, I accepted the highest offer, even though it was slightly under the estimate this time. No worries.
When it was on Motorway, I declared that it had finance outstanding (~10k). But once my buyer was confirmed, I thought it might make things simpler if I paid off this finance. So instead of buyer paying me and the finance separately, the latter I would have no instant confirmation of, the process would be instead that the buyer turns up, inspects the car, pays me via Faster Payments for 14k and then takes the car and V5.
I sent the car dealer that won the bid my proof of settlement via email ahead of the collection, and they acknowledged. However, when it came to collection, they transferred me £4k and Mini finance 10k, doubly settling my finance. Understandably, I wouldn't release the car with only 4k in my account, so I sent them packing after waiting in all day (buyer said 10am, they turned up 4:30pm, but that's by-the-by).
So over the next week, they were in contact with Mini Finance to get their money back so they could come to collect the car again. Things were getting close, as our new car was arriving very soon, and I wanted to move this on before then.
On the Friday they said they had the money back from Mini Finance, so were in a position to collect Monday 9am (same day as new car was turning up). However, they turned up Monday 2:45pm, and made the same mistake AGAIN. Me 4k and Mini Finance 10k, sending the money back they'd taken all week to get returned. Although this time, the buyer did then make a further payment to me for the 10k once I notified them of their repeated error, so I released the car.
Bear with me, getting there... I thought all was well, however, the Friday after I got 10k credited to me from Mini Finance. I rang them to check the money was mine and they confirmed, and also sent me something in writing to confirm this was a refund from the over-payment. Sounds like they should have sent this to the car dealer.
I kept it in my account for a while, as I couldn't be sure if the money was the car dealer's or not. The car dealer rang the other day to ask if I had the money, so I confirmed and obviously they want it back.
My question is, am I OK to transfer it to them, or is there any risk I could end up 10k out of pocket? You know you hear of some scams, and although the car dealer is incompetent, they are not necessarily malicious. Despite this, is this a safe transaction to do?
So in total £30k was transferred to Mini Finance: 10k by me, 20k by the car dealer. Seems like Mini Finance have refunded my payment and one of the car dealer's rather than two of the car dealer's.
However, I recently sold my Mini (the wife's car), and things got into a right mess. After getting bids on Motorway, I accepted the highest offer, even though it was slightly under the estimate this time. No worries.
When it was on Motorway, I declared that it had finance outstanding (~10k). But once my buyer was confirmed, I thought it might make things simpler if I paid off this finance. So instead of buyer paying me and the finance separately, the latter I would have no instant confirmation of, the process would be instead that the buyer turns up, inspects the car, pays me via Faster Payments for 14k and then takes the car and V5.
I sent the car dealer that won the bid my proof of settlement via email ahead of the collection, and they acknowledged. However, when it came to collection, they transferred me £4k and Mini finance 10k, doubly settling my finance. Understandably, I wouldn't release the car with only 4k in my account, so I sent them packing after waiting in all day (buyer said 10am, they turned up 4:30pm, but that's by-the-by).
So over the next week, they were in contact with Mini Finance to get their money back so they could come to collect the car again. Things were getting close, as our new car was arriving very soon, and I wanted to move this on before then.
On the Friday they said they had the money back from Mini Finance, so were in a position to collect Monday 9am (same day as new car was turning up). However, they turned up Monday 2:45pm, and made the same mistake AGAIN. Me 4k and Mini Finance 10k, sending the money back they'd taken all week to get returned. Although this time, the buyer did then make a further payment to me for the 10k once I notified them of their repeated error, so I released the car.
Bear with me, getting there... I thought all was well, however, the Friday after I got 10k credited to me from Mini Finance. I rang them to check the money was mine and they confirmed, and also sent me something in writing to confirm this was a refund from the over-payment. Sounds like they should have sent this to the car dealer.
I kept it in my account for a while, as I couldn't be sure if the money was the car dealer's or not. The car dealer rang the other day to ask if I had the money, so I confirmed and obviously they want it back.
My question is, am I OK to transfer it to them, or is there any risk I could end up 10k out of pocket? You know you hear of some scams, and although the car dealer is incompetent, they are not necessarily malicious. Despite this, is this a safe transaction to do?
So in total £30k was transferred to Mini Finance: 10k by me, 20k by the car dealer. Seems like Mini Finance have refunded my payment and one of the car dealer's rather than two of the car dealer's.
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