car loan

Those who have already complained do not need to do anything, the FCA said, advising those who have yet to complain to contact their car loan provider rather than using a claims management company.

They also concluded that a car dealer had a "fiduciary duty" towards the car buyer when it came to arranging a car loan.

That ruling put million motorists in line for compensation depending on how their car loan interest rate was set, and exposed lenders to potentially billions of pounds worth of payouts.

Answer: A car loan might boost your scores, especially if you don’t already have an installment loan such as a mortgage on your credit reports.

If not, then it still meant there could be compensation for 40% of car loan agreements with discretionary agreements.