Drivers could receive £1,000 payout in 2025 – | Tech News

The specialist at the leading consumer rights group encouraged individuals to send off a complaint letter to finance firms if they feel they could be impacted. 

Speaking exclusively to Express.co.uk, a spokesperson for Consumer Voice said: “Car finance customers could be owed around £1,100, based on a four-year £10,000 motor finance loan that used a discretionary commission arrangement.

“​​The financial regulator has signalled it will allow motor finance providers more time to consider how to deal with complaints about all secret commissions, not just those that are discretionary.

“The FCA extended its review until December 2025 so it is unlikely people will receive any compensation before then but providers are responding to complaints to confirm whether you had a DCA or not on your loan. So you should still be making your complaint now.”

Last year, the FCA confirmed they would extend the complaint-handling deadline for firms until December 4, 2025. 

This is the deadline for firms to respond to customers who have raised concerns about a previous car finance policy. 

However, the FCA will likely present its findings in a review scheduled for May 2025. 

At this stage, motorists should know whether they will receive compensation and how much could be made available.

Money Saving Expert founder Martin Lewis previously warned the delay could be a good sign for motorists hoping to secure compensation. 

He previously posted on Twitter: “It does signal it’s still looking favourably on ruling it is mis-selling and a payout is due – even though finance firms have been pushing back hard both publicly and through the courts.”