When will car finance compensation be paid out and how much could you get?

Millions of buyers unknowingly paid more for their car finance than they should have done. Photograph: Jacob King/PA

Millions of victims of the UK’s car finance scandal will receive payouts this year, the City regulator has confirmed.

But the number of car loans judged to be unfair has been cut by more than 2 million, meaning fewer people will benefit, while the average payout has increased to about £830 per agreement.