FCA Announcement 07.10.25: Payouts of £700 per claim after car finance scandal
Car finance between 2007 - Nov 2024?
You could claim £700 per agreement
Car finance between 2007 - Nov 2024?
You could claim £700 per agreement
No paperwork needed! | We will find any agreements you have taken out
Car finance between 2007 - Nov 2024?
You could claim £700 per agreement
Car finance between 2007 - Nov 2024?
You could claim £700 per agreement
No paperwork needed! | We will find any agreements you have taken out
*On average £700 per agreement although this may be higher depending on the amount of interest you were charged and the amount of any hidden charge
Consumer Claim Back is a trading style of MG Financial Limited which is a Claims Management Company. MG Financial Limited is authorised and regulated by the Financial Conduct Authority (FRN: 832131) You can make a claim yourself for free directly to your lender, and if rejected, you can take your claim to the Financial Ombudsman Service.
If the lender paid a Discretionary Commission Arrangement for your agreement, the complaint will be paused until 4th December 2025, whist they examine the issue of car finance sales that involved discretionary commission. This is to ensure that if a consumer is entitled to compensation, they get it in the best way possible. You may submit a complaint to your finance provider or to the Financial Ombudsman Service for free or via the Financial Conduct Authority’s proposed redress scheme. To find out more, visit: https://www.fca.org.uk/consumers/car-finance-complaints
See how much you could be owed
Please select the number of car finance agreements you think you may have had between 2007 - Nov 2024.
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Mis-sold car finance
What's the latest
Millions of UK drivers may be eligible for compensation after unfair car finance practices were uncovered. If you took out a car finance agreement between 6 April 2007 and 1 November 2024, you could be entitled to an average of £700 per agreement.
The Financial Conduct Authority (FCA) has confirmed that around 14 million agreements could be affected, with total compensation estimated at £8.2 billion.
Don’t wait - check if you qualify today and make sure you don’t miss out on the compensation you could be owed.
How our service works
Frequently asked questions
What is car finance mis-selling?
Car finance may have been mis-sold if the dealer charged higher interest rates to increase their commission, or if they didn’t explain the terms clearly.
Who could be affected?
If you took out car finance (Hire Purchase or PCP) in the UK between 2007 and 2024, you might be affected — especially if the dealer received undisclosed commissions.
How much compensation can I get?
The FCA’s proposed scheme estimates an average payout of around £700 per affected agreement, depending on your deal.
How do I find out if I was mis-sold finance?
Once we have located your lenders this will indicate if you were mis-sold your car finance and if you are eligible for compensation.
When will compensation be paid?
The FCA’s scheme is expected to start in early 2026, with payments made shortly after eligibility is confirmed.
What lenders were involved?
Major lenders affected include Lloyds (Black Horse), MotoNovo, Close Brothers, Secure Trust Bank, Barclays Partner Finance, Santander, Vauxhall Finance, Stellantis Financial Services, BMW Financial Services, Mercedes Benz Financial Services, Land Rover Financial Services, Jaguar Financial Services and many more.
Can I still claim if I no longer have the car?
Yes. You can still make a claim for mis-sold car finance even if the vehicle has been sold, returned, or is no longer in your possession.
Consumer Claim Back is a trading style of MG Financial Limited. MG Financial Limited is registered in England, Company Registration Number 6547196. The registered office address for MG Financial Limited is 31d, Burscough Street, Ormskirk, England, L39 2EG. Telephone 0800 633 5896.
MG Financial Limited is a Claims Management Company. MG Financial Limited is authorised and regulated by the Financial Conduct Authority (FRN: 832131) You can make a claim yourself for free directly to your lender, and if rejected, you can take your claim to the Financial Ombudsman Service. MG Financial Limited is registered with the Information Commissioner’s Office under registration number Z1711964*
The check is free but if you decide to pursue a claim with our chosen law firm/partner they will charge a fee in accordance with the Solicitor Regulation Authority fee cap. We may receive a fee from our law firm partner if we refer your claim to them.