The Latest on the Car Finance Mis-Selling Scandal with LBC News

We’re back on LBC News with the latest update on the car finance mis-selling scandal, following our last discussion on how millions of UK drivers may have been affected.

Sentinel Legal, reveals what’s changed since we last spoke, including:

In this LBC News interview, Sam Ward from Sentinel Legal reveals:

• How car dealerships secretly increased finance payments to boost their own commissions
• A shocking case where a Land Rover buyer paid over £16,000 in hidden fees
• Why the Court of Appeal ruled these practices unfair and how the upcoming Supreme Court hearing in April could change everything
• Which banks are involved and why they’ve already set aside £2 billion for compensation

Timestamps:

• [00:00] The UK’s biggest car finance mis-selling scandal explained
• [00:58] How the FCA’s 2021 ban exposed hidden finance costs
• [01:53] How dealerships artificially increased car finance payments
• [02:54] Case study: A Land Rover buyer unknowingly paid over £16,000 in hidden fees
• [03:06] Why the Court of Appeal ruled these finance agreements unfair
• [03:50] What the upcoming Supreme Court hearing means for consumers
• [05:03] Banks setting aside £2 billion for potential compensation, could this reach PPI levels?
• [05:59] What happens next? How to check if you’re owed a refund

If you’ve ever had a PCP or HP car finance agreement, you could be affected. Are you owed a refund? Learn how to check your eligibility and what happens next in this major financial scandal.