Motorway recently announced the launch of Motorway Pay – a new solution enabling dealers buying cars on the platform to fund a secure online wallet and then release money to private sellers instantly to complete transactions.
The industry first payment service has been designed to significantly improve the purchasing experience for dealers, making payment for vehicles fast, easy, transparent and secure.
Since being soft-launched at the end of January with a test group of dealers, over 1,000 payments with a total value of over £20m, have already been transacted through Motorway Pay, and the service is now starting to be rolled out to all dealers.
Among those to take part in the test group was John Ford, director of Fords of Winsford, who has been speaking to Motorway about his experiences.
Here is what he had to say…
How long have you been using Motorway to source stock?
We have been using Motorway for over two years to purchase stock.
How did you previously acquire stock and what has been the biggest difference since becoming a Motorway dealer partner?
We previously used a number of different sources to purchase stock. Since using Motorway, it has become one of our more important suppliers.
You were invited to take part in the test group of dealers using Motorway Pay at the start of 2023 – what has been your experience of using Motorway Pay to date?
Motorway Pay has made the collection more efficient as we can make an instant payment to the customer. The transition into using Motorway Pay has been seamless with very few issues.
What are the key benefits of Motorway Pay in terms of helping you do your job?
The speed of the collection has been increased significantly to allow it to become a one-person job. It has also meant the collection can be done remotely from the office.
What stock are you most looking to acquire at the moment and why?
This is changing daily but the Motorway platform has a range of stock that meets most of our criteria when we need it.
What are your predictions for the industry as we head into the second half of 2023?
I think it is hard to predict what is going to happen in the remainder of the year. The past 18 months have been somewhat unpredictable. I am intrigued to see that the new norm will be.
Dealers wanting to start using Motorway Pay can apply today to begin the onboarding process, by completing the waiting list form here.
Main image: Tom Leathes, Motorway co-founder and chief executive