Claim sooner rather than later, experts urge, after £7.5bn car loan compensation scheme launched

The key takeaways for who is eligible and how to seek redress from the new FCA motor finance scheme

Complain now to be at the front of the queue. That is the message from the City regulator and the consumer champion Martin Lewis as a scheme gets under way to pay out about £7.5bn in total to millions of motorists mis-sold car loans.

More information emerged this week about how much money the different categories of people might get and how it will all work after Monday’s announcement that an industry-wide compensation scheme for victims of the UK’s car finance scandal is definitely going ahead.