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Should you purchased a automotive way back to 2007 with a mortgage organised via your automotive dealership, you might be eligible for a payout.
The regulator, the Monetary Conduct Authority, is consulting on a compensation scheme – and it is thought as much as 40% of motorists who entered private contract buy (PCP) or rent buy agreements between 2007 and 2021 can be eligible for a payout.
Niall Paterson talks to Sky’s enterprise correspondent Gurpreet Narwan about who is perhaps eligible.
He additionally speaks to Adrian Dally, director of motor finance on the Finance and Leasing Affiliation, who argues the payout ranges look too excessive at this stage.
Producer: Emily Hulme
Editor: Wendy Parker
