FCA’s car finance review

On 30 March 2026, the FCA shared an update on its review into car finance. 

They found some customers may have been overcharged, and they’re introducing a scheme to put things right. 

The scheme looks at three main types of arrangements: 

1. Discretionary commission: Where the broker could adjust the interest rate you paid to increase their commission. 

2. Limited lender relationships (sometimes called 'contractual ties'): Where a broker only worked with one lender or gave one lender the right of first refusal on your loan.  

3. High commission: Where the level of commission paid was high compared to the cost of your loan. 

Could this affect you?

You might be affected if you: 

• Took out car finance between 6 April 2007 and 1 November 2024 and weren’t told about the arrangements mentioned in 1-3 above. 

• Your agreement was either a Hire Purchase (HP) or Personal Contract Purchase (PCP). 

• You’re more likely to be affected if you arranged your finance through a dealer or broker. 

You’re unlikely to be affected if: 

• Your agreement falls outside the dates above. 

• There was little or no commission. 

• You had a high value loan. 

• We can show the arrangement was fair. 

How to make a complaint

If you think you were affected, you can complain for free – it’s quick and straightforward. 

You don’t need to use a claims company. If you go through them, they may charge up to 25% of any compensation (plus VAT). If you’re using a claims company, cancelling doesn’t always mean no fees – check your agreement carefully as fees may still be charged.  

You can contact us in a few ways: 

• Use Martin Lewis’s free tool (this sends your complaint straight to us): 
  https://www.moneysavingexpert.com/reclaim/reclaim-car-finance/  

• Call us 

• Email us at complaints@zopa.com  

Once you get in touch, we’ll review your case and confirm next steps. 

What happens next

We’ll review your complaint and keep you updated in line with the FCA’s timelines. 

• Most outcomes and payments are expected between 2026 and 2027.  

• The deadline to make a claim under the scheme is 31 August 2027.  

Once you receive our final response, if you’re not happy, you can take your complaint to the Financial Ombudsman Service. 

You’ll have 6 months from our final response to do this. 

You can find out more information about the FCA review on their website.