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UK motorists may receive compensation from car finance firms

express.co.uk —

Many UK motorists may be owed compensation due to unfair practices by car finance firms. A consumer rights group, Consumer Voice, claims that drivers have lost billions from inflated prices linked to secret commission charges. The Financial Conduct Authority (FCA) is investigating these practices and is expected to conclude its review soon. Compensation payouts could reach thousands of pounds for affected drivers, with estimates suggesting amounts around £1,100 to £1,400. Research shows that 84% of surveyed individuals are concerned about commission payments to dealers. Many drivers are unaware of these charges, with 23% discovering them only after signing finance agreements.

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