This regulator-led scheme offers a clear path if your motor finance arrangements were unfair The Financial Conduct Authority found lenders failed to disclose key information such as commissions and interest terms and denied many consumers the chance to negotiate That resulted in higher costs per agreement and widespread harm You may be eligible for redress without court fees The scheme aims to be free for claimants quicker than court or the Financial Ombudsman and designed to deliver fair outcomes promptly Estimates put average redress at about per agreement with total payments around bn and overall cost near bn Time matters the process runs on set windows and lenders must respond Review your paperwork for agreements commissions and other information so you can decide next steps with confidence Key Takeaways The FCA found rule breaches that led to unfair motor finance results for many people The scheme is free faster than courts and built to simplify claims for consumers Headline figures average per agreement and bn total compensation Check your agreements and commission details lenders must reply within set timeframes Millions may be affected so review documents soon and keep records ready What the car finance scandal means for you right now A regulator s review has uncovered that many dealership-arranged loans raised rates through hidden broker incentives Why millions in the UK may be due refunds on motor finance The scheme covers motor finance agreements taken between April and November where a lender paid commission to the broker The FCA... Login to read full