Regulators have announced that compensation for millions of drivers mis-sold car finance agreements will be delayed until at least 2027 due to ongoing legal challenges. The Financial Conduct Authority (FCA) estimates average payouts of approximately £829 per affected agreement, with total costs potentially reaching £9.1 billion.
Compensation is expected for those who took out loans between April 2007 and November 2024, but the timing of payments remains uncertain. The FCA has urged consumers to contact their lenders directly regarding their claims.