Victims of mis-sold car finance set to get less than £950 per deal

Martin Lewis explains what the car finance consultation means for you

Open the article to view the coverage from Metro News

Martin Lewis details who's due up to £950 from car finance compensation

Some customers were given higher levels of interest on their finance deal so dealers could receive bigger commission.

Car finance scandal: will you get compensation?

Drivers could be paid next year under a fresh consultation – here’s how much you could be owed

FCA considering compensation scheme over car finance scandal - raising hopes of payouts for motorists

The FCA estimates the cost of any scheme, including compensation and administrative costs, to be no lower than £9bn - adding that a total cost of £13.5bn is "more plausible".

Victims of mis-sold car finance set to get less than £950 per deal

The financial services regulator will consult on a redress scheme for motorists following a court ruling, though many drivers will be ineligible.

Car finance scandal could see drivers get up to £950 each - check if affected

The Financial Conduct Authority has confirmed it will launch a consultation on an industry-wide scheme after evidence found some motor dealers selling cars on finance were getting commission from the bank or finance house providing the loan, and that the size of the reward could be linked to higher interest rates.