New MoneySavingExpert car finance tool to help reclaim £1000s now live

MoneySavingExpert, the site whose founder and chair Martin Lewis popularised both bank charges and PPI reclaiming – prompting over 10 million free template downloads and getting over £10 billion back – has launched its latest mammoth reclaiming campaign, this time for motorists. Full information can be found in MSE’s car finance commission reclaim guide.

The UK’s biggest consumer website has today launched a free car finance reclaim guide and tool, which generates a bespoke letter drafted by Martin Lewis, to help those who purchased a vehicle using finance claim back hidden and unfair commission. Anyone who bought a car, van or motorbike with a finance agreement before 28 January 2021 could be affected and should look at getting a complaint logged as soon as possible.

Martin Lewis, founder of MSE, said: "A back of the envelope calculation shows this will likely end up being the second biggest ever UK reclaim campaign, after PPI. The average payback will likely be over a grand.

"The big question, if the regulator rules as expected, is whether it’ll be single or double digit billions that’ll have to be paid back to people. I’d urge anyone who had car finance before January 2021 to read the guide and use the free tool as soon as possible to ensure if payments happen, you don’t miss out."

Please consider directing your readers to MSE’s free new tool when writing about the issue going forward, which can be found at www.moneysavingexpert.com/carfinance.

Please note, the template letter generated by MSE’s car finance reclaiming tool is for personal use by readers only. Any other publication, without the prior written approval of MoneySavingExpert, is strictly prohibited.

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