martin lewis explains what the car finance consultation means for you

The judges argued that secret commissions are not automatically illegal and car dealers do not have a duty to act solely in the customer’s interest when arranging finance.

This drastically limited who can receive compensation,leaving one being floated by the FCA as the remaining option.

Yet Lewis warned that the industry ‘could fight this,and could fight it hard’.

‘Now I would urge people in the industry,this is a fair compromise,’ he added.

‘You’re going to be paying out far less than you would have done had the Supreme Court upheld what the Court of Appeal said.’