Protect yourself from scams

The FCA has confirmed that scammers are pretending to be car finance lenders to get personal information including names, addresses, dates of birth and banking information. They’re claiming that they need this information to process compensation payments.

Please note, we’re not contacting customers regarding commission complaints at this time.

If someone calls you claiming to offer compensation, please hang up immediately and do not provide any personal information.

You can learn more about how to protect yourself from scams on the FCA website.

You can also report scam calls to Ofcom for action.

Please note, we’re not contacting customers regarding commission complaints at this time.

If someone calls you claiming to offer compensation, please hang up immediately and do not provide any personal information.

You can learn more about how to protect yourself from scams on the FCA website.

You can also report scam calls to Ofcom for action.

March 2025

Latest Update

Commission Compensation — What you should do

Our regulator, the FCA has confirmed a compensation scheme for some motor finance customers.

The scheme is currently being challenged through legal action. Because of this, some parts of the scheme have been paused until the legal action is complete. A hearing is expected in late 2026 or early 2027.

We’ll continue to follow FCA requirements and share updates when they become available. If we can provide an outcome, we’ll contact you or your authorised third party directly.

The compensation scheme covers two issues:

Unfairness – there are a number of factors that could mean there was an unfair commission relationship between the customer and lender.

Discretionary commission arrangements – this is where the broker could adjust the customer's interest rate, which would impact how much commission the broker was paid.
We would like to remind you that we have never used the Discretionary Commission Arrangement (DCA) commission model, so none of our customers would be eligible for compensation related to this arrangement.

Discretionary commission arrangements – this is where the broker could adjust the customer's interest rate, which would impact how much commission the broker was paid. We would like to remind you that we have never used the Discretionary Commission Arrangement (DCA) commission model, so none of our customers would be eligible for compensation related to this arrangement.

Q&A:

Will I be getting compensation?

The proposed scheme could impact some customers who took motor finance agreements out between April 2007 and November 2024.

As a lender, we did not use discretionary commission arrangements, but some customers may still be eligible if the agreement involved a high commission and there was inadequate disclosure.

The proposed scheme could impact some customers who took motor finance agreements out between April 2007 and November 2024.

 As a lender, we did not use discretionary commission arrangements, but some customers may still be eligible if the agreement involved a high commission and there was inadequate disclosure.

Do I need to raise a complaint?

You don’t need to take any action. If the scheme goes ahead and you’re eligible, we’ll contact you directly with clear next steps. It will be free and straightforward to manage.

If you have already made a complaint, you will be considered under the new scheme if you are eligible.

You don’t need to take any action. If the scheme goes ahead and you’re eligible, we’ll contact you directly with clear next steps. It will be free and straightforward to manage.

If you have already made a complaint, you will be considered under the new scheme if you are eligible.

Should I appoint someone to deal with this on my behalf?

You don’t need pay anyone to act on your behalf.  If you use a claims management company, you may have to pay up to 30% in fees out of any compensation you receive.

When will I be contacted?

At the moment, we're unable to progress some complaints because of a legal challenge to the FCA’s compensation scheme.

If we can provide an outcome, we’ll contact you or your authorised third party directly.

We continue to follow FCA requirements and share updates when they become available.

Where can I get more information?

To learn more, visit: fca.org.uk/carfinance and Martin Lewis's website at moneysavingexpert.

For other account-related matters, please go to our mobile App. You can download our app from your App Store by searching for Oodle Car Finance.