Motorists who bought cars on finance could share in billions [Yahoo! Finance]
FIRSTRAND LTD UNSP/ADR (FANDY)
NASDAQ:AMEX Investor Relations:
firstrand.co.za/investorcentre
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Source: Yahoo! Finance
When Marcus Johnson, 34, from Cwmbran, Torfaen, bought his first car - a Suzuki Swift - in 2017, he was not informed the car dealership was being paid 25% commission, which was added on to what he had to pay back. In a landmark case with two other claimants, the Court of Appeal ruled in October that the finance company should pay the hidden commission plus interest back to Mr Johnson, and he is now due to receive just over £3,200. Trade Centre Wales and MotoNovo finance's parent company FirstRand have not responded to requests for comment. Lloyds sets aside £450m for car finance probe Mr Johnson said he was “furious” when he found out what had happened, adding: “I paid £1,650 for what I can only describe as showing me around the showroom for 10 minutes and then printing off a bit of paper. "I signed a few documents and then drove away in the car." He said he had no option but to use finance when he bought the car, describing it as "heart-breaking" to find out so much extr
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