URGENT MINI POD: Car finance mis-selling confirmed: Will you get your money back?
The Martin Lewis Podcast
BBC
4.4 • 929 Ratings
🗓️ 30 March 2026
⏱️ 21 minutes
🧾️ Download transcript
Summary
In a special, urgent edition of the podcast, Martin explains what you need to know right now - as the financial regulator sets out its redress scheme for millions of motorists who were mis-sold finance deals.
The scheme will apply to more than 12 million deals - and will cost lenders 9.1 BILLION pounds.
So - who is included? Should you put in a complaint now? What vehicles are eligible? How do I know if it was mis-sold? Martin answers all those questions - and more.
If you want to ask Martin a question, you now can! His Question Time podcast lets you ask Martin absolutely anything and everything (within reason!) – so if you’ve always wanted to know what colour his eyes are, what he's planning to do in his eventual retirement, or have a very complicated question about your personal finances, email it to MartinLewisPodcast@bbc.co.uk.
Transcript
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| 0:00.0 | BBC Sounds, music radio podcasts. |
| 0:08.5 | I got meals. |
| 0:11.0 | I got to pay. |
| 0:12.9 | So I'm going to work for it. |
| 0:16.0 | I got a meal. |
| 0:18.6 | I got a fee. |
| 0:19.6 | I got to feed. |
| 0:20.5 | So I'm going to make sure everybody eats. Hello and welcome to this special car finance misselling episode of the Martin Lewis podcast. |
| 0:31.3 | The regulator, the FCA, has just announced that 12 million agreements were missold and the average payout will be £830. |
| 0:39.3 | That's a slightly bigger average payout and a slightly lower number of agreements than we thought. |
| 0:44.3 | So the total payout is now thought to be around $9 billion, whereas it was $11 billion previously. |
| 0:50.3 | So to get you through this, as this is not long after the announcement, I've just |
| 0:55.3 | done a news interview on Radio 5 with Claire McDonald's. She spoke and had a clip from the boss |
| 1:00.0 | of the FCA first. So I'm going to play you that, and I'm going to go into it with more detail |
| 1:04.3 | just between us, podcast only afterwards. |
| 1:07.6 | This is Five Live Drive with Claire MacDonald and Chris Warburton. |
| 1:12.3 | Listen on BBC Sounds. |
| 1:15.4 | Thanks so much for joining us. It is Five Live Drive. It's Chris and it's Claire. Good to have your company. |
| 1:20.5 | Let's talk about this. Millions of drivers who are missold car finance between April 2007 and November 2024 will get an average payout of £829. |
| 1:32.8 | A new scheme has been announced this afternoon by their Financial Conduct Authority, |
| 1:37.5 | but the rules are being tightened up, so only those who were treated unfairly will be eligible. |
| 1:43.8 | Nick Hill Raffey is the chief Executive of the Financial Conduct Authority. |
... |
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