Martin Lewis sees one million complaints as car finance payouts likely
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Martin Lewis has seen more than one million complaints over car finance, raising the possibility of major compensation payouts. The money-saving expert and consumer champion said car finance mis-selling has the potential to be the “second biggest reclaim payout in UK history” after the PPI scandal. “To frustrated complainers, I’d say for now we should be prepared to give companies some wriggle room on timings, but firms need to urgently step up their complaint-handling resources.” He also said the motor finance issue “feels like it is building up even more quicky” than the PPI mis-selling scandal which rocked UK lenders in previous years, based on the number of complaints. “In value terms, car finance mis-selling is potentially going to be the second biggest reclaim payout in UK history – possibly over £10 billion repaid – which could even provide a fillip to the economy as PPI did,” Mr Lewis said.