Car buyers may be owed £1,000+ due to mis-sold finance with hidden commission, FCA investigates; deadlines for claims may apply after May 2025.

Car buyers who financed vehicles between April 2007 and January 2021 may be owed over £1,000 due to mis-sold finance linked to hidden commission arrangements. The Financial Conduct Authority (FCA) is investigating these practices, which allowed dealers to raise interest rates without customer knowledge. Complaints can be filed now, but a potential "time bar" could limit claims after May 2025. Martin Lewis' MoneySavingExpert offers guidance for those seeking compensation.

September 21, 2024
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