Car finance compensation explained as millions of drivers owed £700

Andreea Neblea

Ever wonder how so many people on the road are driving around in super posh vehicles? Well in the vast majority of cases, they don’t technically own the cars outright. They’ve taken out car finance to "buy" them. However, many of these vehicles may have been mis-sold, which means if you bought a car between 2007 and 2024, you could be entitled to £700 on average in compensation. This could potentially cost the industry £8.2 billion – a huge sum, but less than was first feared. But how did we

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