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The Guardian - UK
The Guardian - UK
Business
Rupert Jones

Claim sooner rather than later, experts urge, after £7.5bn car loan compensation scheme launched

Car for sale showing £89 monthly finance deal at a dealership
Technically there are two schemes, one for older motor finance, another for more recent motor finance agreements. Photograph: Matt Cardy/Getty Images

Complain now to be at the front of the queue. That is the message from the City regulator and the consumer champion Martin Lewis as a scheme gets under way to pay out about £7.5bn in total to millions of motorists mis-sold car loans.

More information emerged this week about how much money the different categories of people might get and how it will all work after Monday’s announcement that an industry-wide compensation scheme for victims of the UK’s car finance scandal is definitely going ahead.

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