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UK financial ombudsman reports record number of car finance complaints

A car showroom in the UK
A commission fee paid by banks to brokers in return for car finance arrangements has been judged unlawful by the Court of Appeal. Photo: Justin Sullivan/Getty Images

Hameed Shuja

2 min read
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The Supreme Court is set to hear an appeal next month which could shake up the entire UK motor finance industry.

The UK’s Financial Ombudsman Service (FOS) has said it received a record number of complaints in relation to car finance arrangements between October and December 2024.

In a press release, the FOS said: “The most complained about product this quarter was hire purchase (motor) which has risen due to complaints

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