Martin Lewis has explained two ways that millions of people affected by the car finance scandal can claim compensation. Approximately 12 million drivers are now in line for a payout, at an average of £829 each, the Financial Conduct Authority (FCA) has said. The financial regulator has now published the final details of its long-awaited redress scheme for people who were treated unfairly when they took out a motor finance agreement. An estimated £7.5 billion in redress is expected to be paid out, the regulator said.

The City regulator will outline how millions of people can claim compensation for mis-sold car finance.

An estimated 14 million people are due payouts

Payouts are set to be worth £830 each on average

Martin Lewis has explained two ways that millions of people affected by the car finance scandal can claim compensation. Approximately 12 million drivers are now in line for a…

The scheme will cost lenders £7.5 billion in redress costs