GenZ News

Article View

Millions denied car finance payouts after Supreme Court ruling

132d ago
Business
BBC Business
Business strategy
The Supreme Court has delivered a ruling impacting millions of car owners who believed they were entitled to compensation over hidden commission fees in car finance agreements. The court partially upheld an appeal by lenders, significantly reducing the potential payout amount. While the exact implications are still being analyzed, this decision means fewer motorists will receive compensation, and those who do may receive less than initially anticipated. The ruling centers on whether the lenders had a duty to disclose these commissions. Consumer rights groups have expressed disappointment, while lenders have welcomed the clarity provided by the judgment. The full impact on ongoing and future claims remains to be seen.
Source