Landmark opt-out class action against UK car finance businesses for overcharging consumers


Competition and Regulation

Nicholas Gibson is acting for the class representative seeking to bring a claim against three major UK car finance businesses for overcharging approximately 1 million consumers across the UK for used car finance.

The opt-out proceedings claim, led by class representative, Doug Taylor, Enfield Labour Councillor and experienced consumer advocate, has been filed against Santander, Lloyds Banking Group and MotoNovo Finance in the Competition Appeal Tribunal on behalf of the consumers. The claim alleges that consumers were unknowingly charged higher interest rates – totalling nearly £1 billion – due to anti-competitive network agreements between providers of motor finance and automotive dealers. The claim seeks to recover damages for any customers who entered into finance deals with these businesses between 2015 and 2021 and suffered financial harm as a result of their practices.

Nicholas is led by Fergus Randolph KC of Brick Court Chambers, who are instructed by Belinda Hollway, Douglas Campbell and Alice Bernstein of Scott+Scott.