Car finance reclaim - FCA investigating

[ReacherSaidNothing]

Anyone else been reading up on this and think they might have a claim?

Saw something on tv about this and looked into it further, Martin Lewis has recently posted up a topic stating that about 40% of car finance deals between 2007 and 2020 had hidden charges and people can try to claim back later this year once the investigation is fully complete. They've made a list of the companies suspected of doing this and mine is on it (VW Finance). Anyone got any thoughts on this? Ta

FCA will announce its findings at the end of Sept 2024.

Until then, everything is speculative - we have to wait to see what the FCA will say and what way people can be compensated, if at all.

I sent an email to my finance company and they have confirmed that no commission was paid on the deal. So no payout for me

Renault Finance

We had one with vw and also elsewhere, both have sent us letters saying they are waiting on the outcome of the investigation like @HelplessSoul has said. So we will just wait and see.

Yes we have had communication from 3 lenders advising they was a 'mark up' applied to us however can not move the complaint forward until after the FCA decides in September.