FCA Car Finance Redress Scheme Explained: Claims, £829 Payout & 2027 Deadline

Guide 1 April 2026

headshot of Chris Roy, Product and Marketing Director of Reclaim247 Chris Roy

FCA Car Finance Redress Scheme: Claims, Compensation, Payouts 2026 and Deadlines Explained

The FCA car finance compensation scheme covers around 12.1 million agreements made between 2007 and 2024. The regulator expects around £7.5 billion to be paid in compensation, with an average payout of about £830 per agreement. Payouts are expected to begin in 2026, and lenders will contact eligible customers by late 2026 or early 2027. The final deadline to submit a car finance claim is 31 August 2027, with most claims expected to be resolved by January 2028.

FCA Car Finance Scheme Explained 829 Average Payout 2027 Deadline

Guide 31 March 2026

headshot of Shannon Smith O'Connell, Operations Director at  Reclaim247 Shannon Smith O'Connell

FCA PS26/3 Explained: What the Car Finance Compensation Scheme Means for Your Claim

FCA PS26/3 introduces a UK wide car finance compensation scheme for mis-sold car finance, including PCP claims and hire purchase agreements. The FCA estimates around £7.5 billion will be paid to consumers, with an average payout of £829 per agreement. Claims relate to undisclosed commission and unfair pricing. Payouts are expected across 2026 and 2027, and the final deadline to make a car finance claim is 31 August 2027.

FCA Car Finance Claims 829 Compensation Payouts 2026 Explained

News 31 March 2026

headshot of Andrew Franks, expert in automotive and finance, and co-founder of Reclaim247 Andrew Franks

FCA car finance compensation: £829 payouts confirmed in £9.1bn scheme

The FCA car finance scheme will pay an average £829 to millions affected by mis-sold car finance. With payouts in 2026, drivers can submit car finance claims or PCP claims to receive compensation and refunds linked to hidden commissions.

FCA Car Finance Claims Payouts 2026 Decision Imminent

News 30 March 2026

headshot of Andrew Franks, expert in automotive and finance, and co-founder of Reclaim247 Andrew Franks

FCA Car Finance Decision Imminent as Millions Urged to File Claims Now

Millions could qualify for car finance claims as the FCA prepares to unveil its redress scheme. Drivers affected by mis-sold car finance may be eligible for compensation, PCP claims and payouts in 2026.

How to Claim Against Black Horse Finance 2026 PCP Refunds Compensation Guide

Guide 30 March 2026

headshot of Shannon Smith O'Connell, Operations Director at  Reclaim247 Shannon Smith O'Connell

How to Claim Against Black Horse Finance in 2026: Step-by-Step Guide

If you had a Black Horse finance agreement between 2007 and 2024, you may be eligible for a car finance refund. This 2026 guide explains how to claim against Black Horse Finance, how PCP claims work, when payouts may happen, and how to check your eligibility using a refund checker before starting your claim.

Ford £155m Car Finance Claims Boost Amid Mis-Sold Car Finance Scandal

News 30 March 2026

headshot of Chris Roy, Product and Marketing Director of Reclaim247 Chris Roy

Ford sets aside £155m as car finance claims surge in widening mis-selling scandal

Ford has increased provisions to £155m as car finance claims grow in the mis-sold car finance scandal. With payouts 2026 approaching, motorists may be eligible for car finance compensation, PCP claims, and refunds linked to hidden commissions.

Lloyds Faces 66m Car Finance Claims as Payouts 2026 Debate Grows

News 28 March 2026

headshot of Shannon Smith O'Connell, Operations Director at  Reclaim247 Shannon Smith O'Connell

Lloyds faces £66m legal challenge as car finance claims shift to courts

Lloyds is facing a £66m legal challenge as thousands pursue car finance claims over mis-sold car finance. While FCA payouts in 2026 may average £700, some consumers are turning to court action for higher car finance compensation and PCP refunds.

Car Finance Claims FCA 8bn Compensation Scheme Payouts 2026

News 27 March 2026

headshot of Andrew Franks, expert in automotive and finance, and co-founder of Reclaim247 Andrew Franks

Urgent April window for car finance claims as FCA set to confirm £8bn compensation scheme

Millions may be eligible for car finance claims after a major mis-selling scandal involving PCP and HP agreements. With FCA payouts expected in 2026, drivers could claim compensation if their agreement included hidden commission or unfair terms. Find out how to start your car finance claim today.

11bn car finance compensation battle as FCA set for March 30 update

News 26 March 2026

headshot of Andrew Franks, expert in automotive and finance, and co-founder of Reclaim247 Andrew Franks

Banks and regulator face showdown over £11bn car finance compensation scheme

The FCA will unveil key updates to its car finance redress scheme on March 30, with payouts 2026 potentially reaching £11bn. As the car finance scandal grows, millions could be eligible for car finance claims and PCP refunds but concerns remain over who will qualify.

FCA car finance compensation update Millions could claim payouts in 2026

News 25 March 2026

headshot of Andrew Franks, expert in automotive and finance, and co-founder of Reclaim247 Andrew Franks

FCA to unveil car finance redress plan as billions in compensation loom

Millions of UK drivers could be entitled to car finance compensation as the FCA prepares to reveal its redress plan for the car finance scandal. The scheme will address mis-sold car finance, including PCP claims, with payouts 2026 expected to begin soon. Motorists may be eligible for a car finance refund or PCP refund if they were overcharged due to hidden commissions.

© Claimsline Group Ltd 2025

Reclaim247.co.uk is a trading style of Claimsline Group Ltd, registered in England and Wales, Company registration number 09071409. Registered Office: C/O Burton Varley Ltd, Suite 3, 2nd Floor, Didsbury House, 748 - 754 Wilmslow Road, Manchester, United Kingdom, M20 2DW. VAT registration number 217654795. Registered with the Information Commissioner's Office; registration number ZA059156. You can find our terms of use, privacy policy and our cookie policy here. Claimsline Group Ltd is a claims management company. Any solicitor we recommend you to is an independent professional from whom you will receive impartial and confidential advice. You are free to choose another solicitor. Claimsline Group Ltd is authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activities FRN Number is 831196.

1 Where No Win, No Fee is offered - You pay nothing unless your claim is successful. A fee between 18 - 36%, including VAT applies on successful claims (fee dependent on level of redress secured), and a cancellation fee may apply outside the 14 day cooling-off period.

3 The FCA currently estimates that most individuals could receive an average of £829 in compensation per agreement. We find an average of 2 car finance agreements per client, giving a potential total claim value of £1,658.

4 Free Online Checker refers only to the live soft-credit check completed online to identify your car finance agreements.

5 All three examples of compensation clients have received are examples from our working partners Bott&Co. These claims were all won before the FCA’s pause on motor finance claims.