Returning car to dealer - wait for refund - any way to protect myself?

sctla

Hi, I'm going to return a faulty car to a well known dealer (Cazoo). The car's value is £35k+.

The dealer will collect it at some point this week but have told me I need to wait up to 5 working days to receive the refund.

I stated I want the money in my account before they take the car but they said they can't do that.

Is there any risk in this? What happens if the dealer goes bust between taking the car and refunding my money? It's unlikely but possible. Would I be protected in any way?

ontheroad1970

It takes that long for the banks to invest it for 4 days sorry, return it to you - even in a digital world where it could be done immediately.  It could be sooner than 5 days, but this is quite a normal turnaround.  

born_again

ontheroad1970 said:

It takes that long for the banks to invest it for 4 days sorry, return it to you - even in a digital world where it could be done immediately.  It could be sooner than 5 days, but this is quite a normal turnaround.  

To rephrase that.
It takes the retailers finance section that long to process the payment.
I would guess that they also have someone check the car over as well 1st.