Car Finance

It's "improbable" that a major investigation into hidden, unfair car finance commission will find no evidence of wrongdoing, the boss of the financial watchdog behind the probe has said. It's another indicator that millions of drivers could be in line for payouts. To check if you could be due £1,000s back, use our FREE car finance reclaim guide and tool.

MoneySavingExpert.com now has 1,080,000 car finance complaint letters submitted since 6 February 2024 when its founder and executive chair Martin Lewis launched its free car finance reclaim tool. That equates to a staggering 30,000 per day. A back-of-the-envelope calculation means this could be at least £480,000,000 back for those consumers, or more, as over 25% of complaints are from people with multiple agreements.

If you bought a car or van on motor finance from the likes of Barclays Partner Finance, Blackhorse and Santander, and you think you were overcharged, you could be due a payout as a major mis-selling investigation has been launched. MoneySavingExpert.com founder Martin Lewis is also warning anyone affected to lodge a new complaint now, so it's in the queue for when any action is taken.

If you're a More Than car insurance customer with auto-renewal turned on, you should look out for a letter explaining that you'll be switched to Swinton Insurance. Meanwhile, if you're not on auto-renewal, you'll need to arrange new cover when your policy ends as More Than is pulling out of the market.

The financial regulator has announced it will ban commission models that give car finance dealers an incentive to raise customers' costs from next year.

Some car finance customers are paying more than £1,000 extra in interest charges due to certain commission incentives, the Financial Conduct Authority has said. 

Learner drivers are wasting £100,000s each year and instantly failing their driving tests for reasons such as forgetting their L plates, having vehicles that aren't up to scratch and that they're turning up without a car.

Drivers paid over £500,000 in fines last year for not applying to tax vehicles which cost nothing to tax, data obtained by MoneySavingExpert.com shows.

The number of parking tickets issued to motorists by private firms has hit a new record high and risen by almost a million in the past year, new figures published on Friday suggest.

Car finance firms are to be tested on if they give enough information to buyers about risks involved, and whether the commission paid to dealers could harm consumers.