Please note: There is currently a pause in the processing of car finance claims | The FCA is consulting on a consumer redress scheme | You can make a claim yourself | Your lender may contact you directly | Please read on to see if you would prefer to use our services | See FCA Comments here

Big Banks Set Aside Over a Billion for Car Finance Payouts

Big banks don’t just stash away millions for no reason. Lloyds, Close Brothers, Barclays, and other major lenders have now set aside huge amounts in preparation for potential compensation payouts related to car finance claims.

But how did they come up with these numbers? And more importantly—what does this mean for you?

Mis-Sold Car Finance: The Story So Far

Emily receiving the keys to a matt black VW Golf at a modern car dealership

You’re about to see lots more about mis-sold car finance in 2025. If you’re unsure what it’s all about, here’s a breakdown of what’s going on.