Up to 14m car loan scandal victims in line for average £700 payout, City regulator announces

The GuardianTuesday, October 7, 2025 at 5:21:31 PM
Up to 14m car loan scandal victims in line for average £700 payout, City regulator announces
The UK's Financial Conduct Authority has announced a compensation scheme for up to 14 million motorists affected by unfair car loans from 2007 to 2024, with average payouts expected to be around £700. While the compensation amounts are lower than initially anticipated, the total bill for lenders could reach as high as £9.7 billion. This initiative is significant as it addresses long-standing grievances of consumers who were misled in their car financing deals, providing them with some financial relief.
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