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Millions of UK car buyers could be set to be awarded hundreds of pounds in the biggest compensation scheme since the mis-selling of payment protection insurance. ‌

Earlier this week, the city watchdog, the Financial Conduct Authority, announced proposals for a redress scheme of more than £8 billion for people who were mis-sold car finance . Compensation payouts on around 14 million unfair motor finance deals could start as early as next year, at an average of about £700 each, under the UK financial watchdog’s proposed scheme. ‌

Money saving expert Martin Lewis previously branded the scheme 'the biggest one we've seen since PPI". ‌

With so many people believed to be affected, it has left many desperate to know more details. Why is it being launched, and could y

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