FCA launches nationwide car finance campaign

Millions of car finance customers who may be owed compensation can get help making a complaint for free, as the Financial Conduct Authority (FCA) launches a new national advertising campaign. 

Research by the FCA found that 27% of car finance customers lack confidence to make a complaint without using a claims management company (CMC) or law firm, despite free tools from the FCA being available.  

Many car finance customers are already acting – 59% have made or are considering a claim – but a significant group (23%) say they are unsure of their options.

The campaign – running across TV, radio, print, billboards and social media until 6th September – directs people to a free template complaint letter on the FCA website. More than 80% of those surveyed said this would make them more confident complaining directly to their lender. 

Sheree Howard, Executive Director at the FCA, said “Many people who may be owed compensation aren’t sure where to start or don’t realise they don’t have to pay someone to make a complaint. Our free tools are there to help people feel claim confident – so they can get any money owed back without it costing them a penny.”