Martin Lewis has issued a stark warning to motorists tempted to sign up for help in securing compensation over the car loan misselling scandal. The money-saving expert advised against ticking the 'terms and conditions' box, cautioning that it could result in people losing out on hundreds of pounds of compensation.

The Financial Conduct Authority (FCA) has revealed that many motor finance firms failed to comply with legal regulations and its own rules when selling car loans over a period of roughly 17 years. This means that millions of drivers who purchased a car between 6 April 2007 and 1 November 2024 could be eligible for compensation from their lender.

However, Mr Lewis highlighted that individuals are being inundated by companies offering to handle the process for them. He added that

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