FCA car finance mis-selling — do you have a claim?
The FCA found that millions of people were overcharged on car finance due to hidden commission. We've built a guide and checker to help you find out if you're affected.
In January 2024, the Financial Conduct Authority ruled that 'discretionary commission arrangements' in car finance were unlawful. In plain English: dealers were secretly adding commission to your interest rate without telling you, costing customers billions of pounds in overcharges.
This is one of the biggest financial mis-selling scandals in UK history — potentially bigger than PPI.
Do you have a claim?
You might, if:
- You took out car finance between 2007 and 2021
- The finance was arranged through a dealership (not directly from a bank)
- You weren't told about the commission the dealer earned from your finance deal
What you could be owed
The FCA is still working through the detail, but early estimates suggest affected customers could claim back thousands of pounds — the difference between the interest rate you were charged and what you should have paid.
What to do now
We've built a dedicated guide at /car-finance-claim that explains:
- Whether you're likely to be affected
- What information to gather
- How to make a complaint to your finance provider
- What to do if they say no (the Financial Ombudsman is currently handling thousands of these cases)
The deadline for complaints has been extended while the FCA investigation runs — but don't wait.