Eligibility depends on your individual circumstances and the terms of your agreement. While commissions are not unlawful per se, unusually high or unexplained commissions may be unfair. Any figures shown are for illustrative purposes only. FCA timelines and scheme rules may change. This page provides general information and does not constitute legal advice.
The Financial Conduct Authority (FCA) has indicated that consumers making a car finance complaint may receive on average £829* in compensation, although actual outcomes vary depending on individual circumstances. You can read more directly on the FCA website here.
Other issues such as balloon payments, affordability concerns or hidden charges are not included in the FCA's redress scheme. In some cases, these types of complaints may not succeed. In very limited situations, other legal routes might be available, but these are uncommon and success is uncertain.
You do not need to use a claims management company or solicitors to pursue a complaint regarding motor finance commission arrangements. Consumers are entitled to submit complaints directly to their lender, use the FCA redress scheme and, if necessary, to the Financial Ombudsman Service (FOS), free of charge.
Under the new redress scheme, Lenders will refund only affected agreements. Compensation depends on eligibility and FCA redress criteria, FCA link - *Average payout figure and Redress Scheme: https://www.fca.org.uk/news/statements/fca-confirms-motor-finance-redress-scheme.
If you wish to raise a concern about our service or conduct, you can contact the SRA at sra.org.uk.
