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If you bought a car in 2007 with a loan organized through your car dealer, you may be eligible for payment.
The regulator, the Financial Conduct Authority, consults a remuneration plan – and it is thought that up to 40% of motorists who have concluded personal contract purchase agreements (PCP) or rental between 2007 and 2021 will be eligible for payment.
Niall Paterson talks to the Sky sales correspondent, Gurpreet Narwan, who could be eligible.
He also speaks to Adrian Dally, director of finance finance at Finance and Leasing Association, who maintains that the payment levels are too high at this stage.
Producer: Emily Hulme
Publisher: Wendy Parker