Martin Lewis issues 'two week' warning to drivers and says 'be patient'

Martin Lewis has issued a "be patient" warning to drivers, motorists and road users in the wake of a car finance scandal update. The BBC Sounds and ITV star spoke out on Twitter/X in the wake of the development on Wednesday (November 13).

Mr Lewis said: "Again to those asking me practical questions about today's car finance FCA announcement. Pls be patient we do not have the consultation doc yet & it will take two weeks. My team and I will rewrite our guide & templates on the back to answer all questions. Just watch this space."

In reply, a Twitter/X user said: "Don’t understand this. People entered into a finance agreement and paid what was agreed upon. Now it seems some commission was included and not disclosed? So? When say people give to charity it’s not disclosed how much the CEO takes from that donation."

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A second said: "When the details drop, Martin Lewis and his team will have all the info ready to navigate the changes. Stay tuned for the ultimate guide." A third said: "Hi Martin so if one has had it confirmed previously that DCA was not an issue but may be able to have it looked into again in future, it’s best waiting 2 weeks for this outcome to see about next steps?"

"Isn’t this just going to increase the prices of car finance in the future, or a reduction in companies willing to offer such products akin to PPI?" another asked. It’s subject to a possible Supreme Court appeal, but Mr Lewis said: "If the hold is extended, almost everyone who has had car finance deals may have a complaint and be potentially due money back.

"This potentially more than doubles the number of people involved, and would really start to look more like PPI scale of payouts, and a substantial threat to the car finance industry." Millions of people could get an average of £1,100 back if they make a complaint to the finance company they used.