Car finance mis-selling payout scheme could be worth billions

The financial regulator said that a compensation plan for the incorrect sale of vehicle loans for drivers could cost 18 billion pounds.

On Friday, the Supreme Court decided that the secret commissions on car loans were not illegal, so millions of drivers will not be able to claim.

However, the decision, the Supreme Court said that it was unfair, especially for the great commissions, the possibility of compensation allegations have left open.

Following the decision, the Financial Behavior Authority (FCA) said it would make a payment plan that is estimated to be between £ 9 billion to £ 18 billion.