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The Independent UK
The Independent UK
Business
Anna Wise

Millions who were mis-sold car loans to get average £829 payout in final scheme

FCA
Compensation payouts are due on around 12.1 million unfair motor finance deals, at an average of £829 each (Yui Mok/PA) - (PA Archive)

Compensation payouts are due on around 12.1 million unfair motor finance deals, at an average of £829 each, the financial watchdog has said as it unveiled the final plans for its redress scheme.

Motorists are expected to get a higher payout than the £700 estimated under previous proposals by the Financial Conduct Authority (FCA).

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