MoneySavingExpert Martin Lewis has issued a new warning about potentially 'mis-sold' car finance, suggesting vehicle owners could be owed over £1,000. The alert follows the Financial Conduct Authority's (FCA) decision to investigate car financing practices and assess whether customers have been overcharged on interest.
Martin Lewis ' MoneySavingExpert has issued a new warning about 'mis-sold' car finance , suggesting that vehicle owners could be due over £1,000. This primarily concerns anyone who purchased a car, van, campervan or motorbike between April 2007 and January 28, 2021.
If you're unsure whether a DCA was included in your policy, there's no need to worry. The complaints procedure only considers two types of finance taken over the 14-year period. This includes Personal Contract Purchase and Hire Purchase , but leasing is not covered. Remarkably, MSE asserts that 74% of those who have previously utilised this tool discovered they had a DCA. However, potential complainants are advised to act swiftly.
Car Finance Mis-Sold Reclaim Martin Lewis Moneysavingexpert
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