# Car finance saga: Millions of motorists to find out how they will be compensated

By Danni Hewson — 2026-03-30

Danni Hewson, head of financial analysis at AJ Bell, said: “The day of destiny for companies like Lloyds and Close Brothers caught up in the motor finance mis-selling scandal is finally here, as details of the regulator’s redress scheme are announced.

“It looks like industry lobbying and legal efforts have been successful in at least limiting the damage, with average payouts of £700 expected.

“Though investors will be watching closely to see if companies are forced to set aside any extra cash after today to help fund compensation.

“News of an omnibus claim being pursued by borrowers from Lloyds, who are waiving their rights to the FCA’s compensation scheme, and the threat of more to come against other lenders suggests this issue, like a nagging rattle in the dashboard, might not be done and dusted even after today.”

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