Martin Lewis has confirmed over 1.2 million are seeking compensation for overcharged interest when funding a vehicle on PCP or HP finance between 2007 and 2021.
Lewis said the tool is now averaging over 30,000 complaints a day and he spoke on breakfast TV today to say that millions could be owed around £1,000 each in compensation, with the total bill reaching “billions of pounds”.
The free tool was launched in February for consumers to use in logging a complaint about discretionary commission agreements (DCAs) in their car loans.
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Author:
Tom Seymour
Freelance writer
Freelance writer for AM, Tom Seymour has been a specialist B2B journalist covering the automotive sector for over 14 years. He started his freelance career in 2015 and currently writes for a variety of automotive, business and technology publications.
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