Car firm payouts could hit £18billion

MILLIONS of drivers could be owed a share of up to £18billion in compensation after many motor finance firms failed to give relevant information about commission they paid to car dealers selling the loans.

- By Callum Hoare

The Financial Conduct Authority said it will consult on an industry-wide scheme estimated to be worth between £9bn and £18bn.

Redress

Most eligible drivers will likely get less than £950, the FCA said.