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The Financial Conduct Authority could slash some drivers' car finance payouts to £517. The FCA said in August that it estimated “most individuals will probably receive less than £950 in compensation per agreement”.

The FCA announced earlier in October that it expects eligible consumers to receive an average of about £700 an agreement, with many receiving more than that “and a large number receiving less”.

FCA documents suggest that for DCAs, the mean proposed payout (the arithmetical average) would be £665, while the median figure (the middle value in a dataset) would be £517.

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For the second category named above, the figures are £686 and £526, and for the third they are quite a bit higher: £1,108 and £

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