The Martin Lewis Podcast Car Finance Compensation Special
Aug 2, 2025
The discussion kicks off with a deep dive into the Supreme Court's recent ruling on car finance agreements and its implications for compensation claims. Listeners learn about the reduced scope for compensation and who may still qualify. There's also a cautionary note to avoid immediate claims, as a redress scheme is on the horizon. The podcast further tackles car dealers' responsibilities and sheds light on the struggle of vulnerable consumers navigating complex financial transactions.
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Supreme Court Limits Car Finance Claims
- The Supreme Court ruled against the idea that non-disclosed commission arrangements were invalid bribery.
- They also rejected the notion that car dealers have fiduciary duties to act independently for buyers.
Wait Before Claiming Compensation
- Do not contact claims firms or take actions yet if you might have had discretionary commission arrangements.
- Wait for the regulator's consultation, as redress could be automatic and claims firms may charge unjust fees.
Excessive Commission Causes Unfairness
- Excessive commission combined with misleading lender panel claims constitutes unfair treatment.
- This unfairness can lead to a refund of the cost of finance, including commission.