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Martin Lewis has issued a warning to millions of drivers who may be entitled to a refund for unfair car finance commission.
During his ITV show on Tuesday, 6 February, the MoneySavingExpert founder highlighted that a portion of car finance agreements made before 28 January 2021 included “discretionary commission arrangements”, which allowed dealers to alter the interest rates offered to customers and increase their commission – a practice that has since been prohibited by the Financial Conduct Authority.
A recent investigation has revealed that individuals affected by this could be reimbursed for overpaid interest, Lewis revealed, potentially resulting in millions of drivers receiving money back.
