 banned this type of commission, so drivers who took car finance from then on aren't affected. The claim is being led by consumer advocate Doug Taylor and supported by litigation specialist Scott+Scott. It has been filed at the Competition Appeals Tribunal. Santander told The Sun it did not comment on legal claims against it. A Black Horse spokesman said the lender is "committed to ensuring customers have clear and transparent information". He added: "New rules were set out for the industry in 2021, which we have implemented." The Sun has contacted MotoNovo and is waiting for a response.){kind=link}
MILLIONS of drivers who took car finance before 2021 could be in line for thousands of pounds in compensation.
A legal action has been lodged against the UK’s three biggest car finance providers – Black Horse, MotoNovo and Santander Consumer.
Lawyers believe they can get up to £1billion in damages after car dealers ramped up interest rates on car finance to earn themselves a fatter commission.
It meant some people who took a loan to buy their car paid more interest than they should have.
It also saw car finance lenders earn bigger profits.