Martin Lewis issues update for millions of drivers now 'more likely' to get compensation
manchestereveningnews.co.ukMartin Lewis says a new landmark court ruling means millions of drivers are now "more likely" to be awarded compensation over car finance mis-selling.
The MoneySavingExpert.com founder explained how a new Court of Appeal finding - which has sent "shockwaves" through the car industry - has the potential to be "precedent-setting" in terms of payouts.
The court ruled that customers must be fully informed about commissions when taking out car loans before an agreement can be entered into.
The Court of Appeal said in a summary of its ruling that brokers cannot lawfully receive a commission from lenders "without obtaining the customer's fully informed consent to the payment". READ NEXT: DWP PIP changes that don't need to be reported - and those that do The outcome of a major investigation from the Financial Conduct Authority (FCA) into car finance mis-selling is due in May 2025.
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