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Martin Lewis Says Do One Thing Now to Get £700 Car Finance Payout - Nottinghamshire Live
Up to 14.2 million UK car loan borrowers could receive an average £700 each after brokers failed to disclose commissions, costing lenders about £8.2 billion, FCA says.
- Around 14 million car finance agreements may receive compensation due to non-compliance by motor finance firms, according to the Financial Conduct Authority .
- The FCA estimates that about 44% of the 32 million agreements reviewed may qualify for compensation, which averages £700 per agreement.
- Martin Lewis emphasizes that this will be the simplest redress scheme seen for a large-scale issue.
- Consumers are advised against using third-party claims management companies to avoid unnecessary fees, according to Auto Express.
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Evening Standard+3 Reposted by 3 other sources
Car finance mis-selling: Am I eligible for compensation, and what do I do?
Millions of motorists could be in line for compensation from their lender.
·London, United Kingdom
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Total News Sources11
Leaning Left5Leaning Right1Center4Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 40%
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