Martin Lewis has issued a new update for everyone who has used an online template tool on MoneysavingExpert.com to generate a complaints letter for possible car finance refunds worth around £1,100. Earlier this year, the consumer champion revealed that millions of people who bought a car, van, campervan or motorcycle on finance before January 28, 2021 may be owed thousands of pounds after being charged ‘hidden commission’.
Mike posted on X: “Martin I emailed vauxhall finance in Feb about the FCA concerns. They have yet to reply. What can I do?” The financial guu’s last big update on the issue - which he said could become the “UK’s second biggest reclaim after PPI” - hinted that compensation could be coming as Lloyds, owner of Black Horse, has set aside £350m for potential costs and payouts.