Martin Lewis issues car finance mis-selling update as customers left fuming

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Martin Lewis issues car finance mis-selling update as customers left fuming
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The FCA is investigating the mis-selling of loans for vehicles to people and anyone who bought a car, van or motorbike on finance between April 2007 and 28 January 2021 could be owed money

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Martin Lewis has provided the latest update on the car finance mis-selling scandal. The Financial Conduct Authority had previously confirmed earlier in the year that it was delving into cases of potential mis-selling of vehicle loans.

The experts over at Money Saving Expert reckon that the average reclaim could amount to £1,100 per customer. They are calling for people to put forward their claims by the end of today, September 24.Read more: Belfast woman's 'wee swap' event to reuse kids clothes and toysBack in January, the FCA had aimed to share its observations by this September.

In a recent update on his social media page, Mr Lewis stated: "Motor finance misselling update: @TheFCA just announced while it'll announce its ruling in May 2025 firms will have until December 2025 to deal with complaints." @Frances38594528 expressed exasperation, saying: "For goodness sake. They know people have claims so why are they delaying payment? " Meanwhile, @charlie_suth added to the criticism: "Disgraceful. They will just keep kicking the can down the road."

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