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Four weeks ago, the regulator the Financial Conduct Authority (FCA) announced a huge investigation into widespread misconduct in car, van and motorbike finance - not something it does, unless it already has substantial evidence.

It's specifically looking into hidden discretionary commission arrangements - where lenders allowed brokers & car dealers to make up their interest rates, increasing what you paid in order to increase their commission - so YOU OVERPAID, WITHOUT KNOWING. That means the first step is to find out if it happened to you, but don't worry, our free tool helps you do that.

Being blunt, you're far better to jump to the guide

If it looks like this may be you, rather than reading my bite-sized summary below, just go to my...

Car finance commission reclaiming full guide, help & FREE TOOL

Plus I want to talk you through it, so I'm dedicating tonight's (Tue 8pm ITV) The Martin Lewis Money Show Live to it (Miss it? Watch back on ITVX).

Here though, let me give you a brief overview. You're likely eligible to complain over discretionary commission arrangements if you...

Bought a motor vehicle on finance...
... with a finance agreement before 28 Jan 2021.
The vehicle was for mainly personal (incl commuting), not biz, use.
It includes Personal Contract Purchases (PCP) and Hire Purchase.
It doesn't include Personal Contract Hire.
If doesn't include interest-free finance.
It applies even if the car is now paid off.
Had multiple eligible car finance? You may be due multiple payouts.

More details on all of these in our are you likely to be affected? checklist. The FCA thinks about 40% of motor finance agreements had these arrangements and, on average, car buyers paid £1,100 more interest on a typical £10,000 four-year car finance deal, when discretionary commission arrangements were used.

Motor finance may also have been mis-sold in other ways

The investigation is only into one type, though it's likely to be the biggest. You may have also been separately mis-sold due to a lack of clarity in your contract and poor affordability checks. These aren't covered by the new FCA investigation, but the team have a separate guide to help on that. See Car finance mis-selling: are you affected?

Complaining is on hold, but you should still do it now

When the FCA launched its investigation, it paused the requirement on firms to deal with complaints until at least 25 Sept 2024, when the investigation is due to report.

Yet as we don't yet know how far back complaints will be allowed, and a time-bar is likely, in my view (and it can only be my best estimate) the safest thing to do is to log your complaint now, which hopefully reduces the risk of you being timed out. Again, our free discretionary commission complaint tool is designed to do that.

How much will payouts be?

It's too early to say authoritatively, it all depends on the results of the FCA's investigation, but the Financial Ombudsman has already ruled on some cases (I've simplified this one so it's easier to understand)...

A Blackhorse (part of Lloyds group) borrower bought a £7,619 car with a 100% loan and paid 5.5% interest (£2,096 over five years), when the cheapest rate available was 2.49% (£949 over five years). The ombudsman ordered Blackhorse to repay the £1,148 difference paid out in commission, plus interest.

The elephant in the room

I have assumed that when the FCA completes its investigation, it will rule there has been widespread mis-selling and set up some type of mass-scale redress system. After all, to launch such a public, wide-scale investigation it will already have substantial evidence. What it'll be doing now is building that at a micro firm-by-firm level using its investigatory powers.

Of course, until the ruling comes we don't know for sure, so there is a chance (albeit small) this'll be a damp squib. Regardless, it's best to assume it's happening, and jump to the full Car finance discretionary commission reclaiming guide.

DON'T believe the fake 'Martin Lewis' or 'MSE' ads
Lots of scam ads litter social media and even newspaper websites - some of these lie that we or Martin promote Bitcoin, binary trading etc. See Fake ads warning.

Cheap pet insurance
You'd be barking if you don't check
Cats, dogs, canaries, rabbits etc. Hot deals comparisons miss too, eg, £75 Amazon

Vet bills (already sky high) and general pet care costs have risen a further 13% in the year leading up to September 2023. So much so that the Competition and Markets Authority (CMA) has stepped in to investigate. The outcome's unlikely to be speedy, so in the meantime here are our top tips for those who want to cut the cost of pet insurance, to ensure you're not left facing tough decisions in the event of an unexpected trip to the vets. Our full Cheap pet insurance guide has a litter of tips to reduce costs, here's a brief walkies through it...

Cats & dogs. Prices are bespoke, so the key is to get as many quotes as possible in the shortest time.

1. Combine comparison sites. Try as many as you've time for, as they search different insurers and sometimes have different prices for them, and most let you get multi-pet quotes. In order of how many insurers they compare, try MoneySupermarket* | Compare The Market* (single pet quotes only) | Gocompare | Confused.com*.

2. Check deals not on comparison sites. Big providers Petplan* and Direct Line don't appear on comparisons, plus there are also promo deals in our top deals that comparisons don't list (some as we've blagged exclusive extras). So check them and compare to the comparison site winners, of course factoring in the level of cover (though we don't have much feedback on some of them):

- Animal Friends* via this link offers a £75 Amazon voucher paid after 90 days of cover.
- Waggel* via this link offers a £60 Amazon voucher per pet insured (up to £180) paid after 90 days of cover.
- Agria* via this link offers a £75 (dog) or £40 (cat) Amazon voucher paid after 120 days of cover (max £155).
- Tesco* offers 3,000 Clubcard points if you buy a new standard, premier or extra policy & enter your Clubcard number.
- And check cashback sites too to see if you can get cashback on the comparison's winner.

3. Cats are seen as free spirits, dogs aren't. So you're liable for your dog's behaviour if it causes damage or injury to other people or property. Always check 3rd-party cover (as a min, get it standalone from Dogs Trust).
Horses, rabbits, parrots, reptiles & other pets. As comparisons sites don't usually work for these, you'll need to manually compare quotes directly with specialist insurers.

- For horses and ponies: Try SEIB, Petplan Equine* and NFU Mutual.
- For rabbits, budgies, guinea pigs, parrots, lizards and more: Try Exotic Direct* and British Pet Insurance (+ Sainsbury's and Petplan* for rabbits).
WARNING: Beware switching insurance if your pet has an existing condition. Most new policies won't cover past issues, whether you've claimed for them or not. Yet if you stay with your old insurer, you're likely to pay more to cover that condition in future. So it's usually a hard choice between switching to a cheaper policy with no cover for the specific condition, or sticking and likely paying more. Full help in existing problems.
Pet insurance NEED-TO-KNOWS...
1) It generally covers big issues (such as broken bones and tumours), not check-ups. See what's covered.
2) Need cover but can't afford it? If you're on certain benefits, charities such as the PDSA may help with vet bills.
3) Could you self-insure? For smaller animals, you could put cash in savings to cover fees. See self-insuring help.
4) Keep your routine jabs up to date. Or it may invalidate your insurance.
5) Always check the policy is right for you. It's not easy, as insurance is about protection from the unknown, but do check the policy details, what's excluded, and that the firm's regulated by the Financial Conduct Authority.
6) If your claim's unfairly rejected, take the firm to the Financial Ombudsman. Once you've complained to the firm, you've then a right to go to the free independent Financial Ombudsman Service for its help to settle the claim.

£120 Hoover cordless vacuum (normally £269). MSE Blagged. Via code. 5,000 available. Hoover

New. Please report "sorry, we are experiencing unusually high call volumes" messages. We want to test if some firms have this for EVERY call. If you call a bank, broadband, mobile, credit card, energy, water or sewerage firm, please take 30 seconds to report it via our unusual call volumes tool. In some cases, it may be a breach of the Consumer Duty (please bookmark this for when you need to use it).

£1 to £6 ex-high street shoes, clothes & accessories via rare 10% off code plus free delivery. MSE Blagged. Everything5pounds (well, it's not all £5) sells a mix of ex-high street & non-branded items. Everything5pounds

Martin debunks credit scoring: Three quick videos... how credit scoring works (the pub version) | 12 tips to boost your credit score | how lenders actually analyse you. Or watch the full credit scoring Martin Lewis Money Show and read the How to boost your credit score guide for a detailed explanation.

'My wife saved £7,000 and boosted her state pension after reading your Child Benefit article.' Our success of the week comes from David, who said: "My wife has a low-paid job, so doesn't contribute to national insurance (NI), leaving her state pension record with a 10-year gap. We'd been thinking about making voluntary contributions, then I read your Child Benefit missing years article and realised as I'd been claiming Child Benefit, I could transfer all the Child Benefit credits to my wife and plug her NI holes. She got 10yrs' worth of free pension credits, which would have cost us approx £7,000. A huge weight off our minds. Thanks." If we've helped you save (on this, or owt else), send us your successes.

New. How much will your water bill rise in April? Some 20 out of 22 water and sewerage firms will raise prices for bill & meter customers. See how much your water bill will rise and our How to slash £100s off water bills guide.

Be my (cheap) Valentine - yes, it's Wed next week...

Romance is lovely, but over-commercialised pressure to show your love ain't. Many will want to spend anyway, and if so, THIS WEEK is usually the time to buy, as leave it later and you may pay more last minute. Yet don't overspend, and try our free Valentine's gift cheques to promise something special.

♥ Dozen roses from £25 couriered, from £4 in stores. See Valentine's roses round-up.
♥ Personalised A5 card for £1.59 delivered. MSE Blagged. Via Card Factory code. Or 33% off cards via Scribbler.
♥ Free build-your-own Lego heart at Lego stores this weekend. A fun freebie for the one you click with.
♥ Valentine's meal deals, eg, starter, main, two sides, dessert & drink £12 at Asda. See dine-in deals.
♥ Lots more, including £5 prosecco and £12 champagne. Check our full Valentine's Day 2024 guide.

Boots 70% off 'end of sale clearance', eg, £20 Soap & Glory for £6. Limited stock - find a Boots bargain

ITV 8pm tonight (Tue) - The Martin Lewis Money Show Live. Over to Martin: "I'll be brief because, as I've already written above, tonight I'm leading on the huge new car finance reclaiming campaign, plus loads more news you can use. Do watch, or set the Betamax (and catch up via ITVX)."

BLAGGED FOR MSE

- £269 Hoover vacuum for £120 via code 5,000 available
- Extra 10% off £5ish coats, shoes & more Ends Sun 11 Feb
- Card Factory personalised card for £1.59 Ends Mon 12 Feb
- Scribbler 33% off Ends Sun 11 Feb
- Free 4mth Day Out With The Kids discount card Ends 29 Feb
- 30% off Grind coffee Ends Tue 13 Feb

DID YOU MISS?

- Martin vid: Will house prices, mortgages & rents rise or fall?
- Ends Wed. Doritos 23p etc - extra 10% off past 'best before' food
- £135 Ted Baker specs £37
- £107 'I Am Proud' beauty dupes set £35
- Are you one of 1.1m pensioners missing out on £3,500/yr?

Can't afford to clear your debts? You can't afford NOT to check if you can shift 'em
The longest 0% balance transfer gets worse on Thursday. Paying credit card interest? CHECK NOW if you can get 29mths 0% (3.45% fee) & £25 cashback

Last week, we gave you 24 credit card need-to-knows, including how to slash interest rates to 0%. No apology for a bit of repetition this week, as it was hugely popular and we've learned the longest card is losing its promo cashback. As a reminder, a 0% balance transfer is when you get a new card that pays off debt on your existing card(s), so you owe it instead but INTEREST-FREE. This means your repayments clear the actual debt, not just mostly cover interest. Two tips first...

1. Don't 'just apply', as that can hit your ability to access credit. Go via an eligibility calc. In two mins, our 0% eligibility checker shows your card-by-card acceptance odds, so you can home in on those most likely to accept you.

2. If you've a choice, go for the LOWEST FEE within a 0% time long enough to clear your debt. Generally, the longer the balance transfer, the bigger the one-off fee, eg, 3% of the amount transferred (so £30 per £1,000). So if you can clear your debt quicker, go for a shorter deal to minimise fees. UNSURE? Play safe, go long, like the Barclaycard.

Top pick newbies' 0% balance transfers (longest first)
Barclaycard Link goes via eligibility or apply direct*	- Up to 29mths 0% (some get 14mths) - 3.45% fee - Ends Thu. £25 cashback on £2,500+ transfers - 24.9% rep APR after	Longest 0%, £25 cashback for some, but an 'up to'. So whether you get the full 29mths 0% depends on your credit history (if our eligibility calc shows you're pre-approved, you WILL get the full 29mths). If not, you could get just 14mths.
M&S Bank Link goes via eligibility or apply direct*	- Up to 28mths 0% (some get 20mths) - 3.49% fee (min £5) - 24.9% rep APR after	Long 'up to' with better back-up 0% length. Again, whether you get the full 28mths 0% depends on your credit history (if our eligibility calc shows you're pre-approved, you WILL get the full 28mths). Yet if not, here you get 20mths, so if you've a decent chance of both but are not pre-approved, this may be a better bet.
Santander Link goes via eligibility or apply direct*	- 26mths 0% - 3% fee (min £5) - 23.9% rep APR after	Longest DEFINITE 0% - all accepted get 26mths. A slightly lower fee (£3 per £1,000), so a good safe option especially if 26mths is long enough for you to clear your debt.
NatWest Link goes via eligibility or apply direct*	- 13mths 0% - NO fee - 24.9% rep APR after	Longest NO-FEE 0%. If you can clear the debt within 13mths, this NatWest card (also offered by sister banks RBS* and Ulster) is the winner as there's no cost at all.

Getting a card? ALWAYS follow the Balance Transfer Golden Rules:
a) Never miss the minimum monthly repayment, or you could lose the 0% deal and it'll cost far more.
b) Aim to clear the card (or balance-transfer again) before the 0% ends, or the rate rockets to the higher APR.
c) Don't spend or withdraw cash. It usually isn't at the cheap rate and withdrawals may hit your ability to get future credit.
d) If you don't transfer at application, you've usually only 60 to 90 days to get the 0%. Do check with your card.

Quick balance transfer FAQs (click links for Martin's answers)
Q. Is it worth applying if my eligibility odds are low? | Q. What if my credit limit isn't big enough? | Q. Can I shift debt to existing cards too? | Q. Should I try to pay off my biggest debt first? SPOILER: NO.
Full help and info, including options for poorer credit scorers, in Best balance transfers.

New podcast: In the wrong council tax band? 100,000 are, and are due £1,000s back. With news that council tax is to rise (see below), this a very timely podcast from Martin. It includes council tax discounts for students, single parents and some with dementia, low incomes. Plus landlord tips for renters, money mastermind and more, all in the new The Martin Lewis Podcast. Listen via BBC Sounds, Spotify, Apple Podcasts or wherever you like to get your Martin fix.

News. Council tax in England set to rise by 5% on 1 April. See council tax hikes.

Tesco shopper? You've a month to use/extend £18 million of expiring Clubcard vouchers. The deadline is 29 Feb. Full help in Tesco alert.

Absolute last chance. Unmarried with kids and partner died since 2001? Claim up to £40,000 bereavement help. The deadline is THU 8 FEB and many MUST apply via post, so it really is the last-moment chance. Spread word, and get full info in our bereavement help.

Free 4mth days-out pass (norm £4/mth) for 40% off cinema tix, 20% off Laser Quest and more. MSE Blagged. Other attractions include 40% off Drayton Manor, 30% off SeaLife and Legoland Discovery, 10% off Go Ape. For Day Out With The Kids pass newbies. Related: Free & cheap half-term ideas.

Grind coffee 30% off code. MSE Blagged. Valid on ground coffee, beans and pods. Grind

Live in Scotland or a park home & claim benefits? Apply for the £150 warm home discount ASAP. It's worth £150, but it's paid on a first come, first served basis, and some suppliers have already closed their applications. Full info in Warm home discount. Related: Final £299 cost-of-living payment paid from today - check if you're eligible.

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AT A GLANCE BEST BUYS

Longest 0%: Barclaycard (check eligibility / apply*) - up to 29mths 0% + possible £25 cashback, 3.45% fee (24.9% rep APR interest)
No-fee 0%: NatWest (check eligibility / apply*) - 13mths 0% (24.9% rep APR)

1% cashback on bills/travel: Santander Edge

Top easy access: Coventry BS 5.15%, min £1
Top one-year fix: SmartSave 5.16%, min £10,000

Try our Compare+ Car Insurance tool

Cheapest for £5,000 to £7,499: Santander (check eligibility / apply*), 7.3% rep APR
Cheapest for £7,500 to £15,000: TSB (check eligibility / apply*), 5.9% rep APR

Fast fibre (55Mb+): Vodafone '£23.17/mth'
Superfast fibre (100Mb+): Vodafone: '£21.59/mth'

On Universal Credit or similar? Check all discounted social tariffs

Up to 3GB data: Lebara, '£3.20/mth' for 3GB
4GB to 9GB data: Lebara, '£3.45/mth' for 5GB
10GB to 30GB data: iD Mobile, '£4.50/mth' for 30GB
31GB+ data: iD Mobile, '£7.50/mth' for 100GB

THIS WEEK'S POLL

How much mobile data do you use in a month? Mobile phones are an essential part of everyday life for many, with streaming, gaming, social networking and more all increasingly done on data-hungry handsets. When we last did this poll in 2022, three-quarters of MoneySavers used less than 3GB/mth. We want to see if this has changed. Vote in this week's poll.

Almost a third of people pay at least £50/mth for TV or streaming services. Last week, we asked how much you spend on TV and streaming, and more than 8,000 responded. After a TV licence, the most popular services are Netflix and Amazon Prime Video, with around half paying for at least one of these. And while more than half say they spend less than £30/mth on TV, a third are spending £50+/mth, with almost 9% spending £100+/mth. See the full TV and streaming poll results.

MSE NEWS

- Top story: Bank of England holds base rate at 5.25% yet again - what it means for your savings and mortgage

MONEY MORAL DILEMMA

Should I accept an expensive birthday present from my boyfriend who owes me money? My boyfriend, who has been trying to sort himself out financially, got me a beautiful bike that cost £1,500 for my birthday. He says it's a larger-than-normal gift to say thank you for finding us our flat and helping him sort his life out. Yet he owes me a month's rent and half of the deposit on the flat we recently moved into, and has been stressed about finding money to buy things his daughters want. Do I accept the bike to avoid hurting his feelings, or decline to continue helping him with his finances? Enter the Money Moral Maze: Should I accept an expensive present from my boyfriend who owes me money? | Suggest a Money Moral Dilemma

- Win a London hotel stay and dinner
- Win a box of chocolate-covered frozen fruit
- Win a Bobbin bike

- Win a £55 hamper
- Win a cinema and dinner date for two
- Win 50 red roses and a £500 holiday voucher

MSE TEAM BLOG

- MSE Forum highlights: Wallpaper, wine & water bills

MARTIN'S APPEARANCES (TUE 6 FEB ONWARDS)

Tue 6 Feb - The Martin Lewis Money Show Live, ITV1, 8pm (watch previous episodes)
Wed 7 Feb - Ask Martin Lewis, BBC Radio 5 Live, 1pm

MSE TEAM APPEARANCES (SUBJECT TBC)

Fri 9 Feb - BBC CWR, Mid-morning with Mollie Green and MSE's Molly, from 10.40am

BENDY BREADKNIVES & NEXT-LEVEL BARGAIN HUNTING - MONEYSAVING HACKS FOR NEW HOMEOWNERS

That's all for this week, but before we go... what are your MoneySaving tips for someone about to move into their first home? One user goes everywhere armed with a notebook of measurements for all their windows and walls, so they know if any bargains will fit. Another writes on the wall how many rolls of wallpaper they used before applying the last sheet, as a reminder for when they come to re-paper. Making long-term choices is a recurring theme, with Forumites avoiding cheap toolkits and 50p bendy breadknives in favour of quality tools and cookware that'll last a lifetime - one says their 80-year-old woodworking chisels are still as good as new. Share your tips for anyone kitting out their first home in our MSE Forum thread.

We hope you save some money,
The MSE team

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More about MoneySavingExpert and Martin Lewis

What is MoneySavingExpert.com?
Founded in February 2003, it is now the UK's biggest consumer help website, with more than 12 million users each month and about 8.5 million receiving this email. In September 2012 it became part of the MoneySupermarket Group PLC. Its focus is simple - saving cash and fighting for financial justice on anything and everything. The site has over 80 full-time staff, more than a third of whom are editorial - researching, analysing and writing to continually find ways to save money. More info: See About MSE.

Who is Martin Lewis?
Martin Lewis CBE is the founder and executive chair of MSE, as well as the founder of the MMHPI charity. He's an ultra-focused MoneySaving journalist and consumer campaigner with his own prime-time ITV programme The Martin Lewis Money Show, Radio 5 Live Wednesday show Ask Martin Lewis and weekly slot on This Morning, among others. More info: See Martin Lewis' biography.

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barclaycard.co.uk, bank.marksandspencer.com, santander.co.uk, natwest.com, rbs.co,uk, moneysupermarket.com, compare the market.com, confused.com, petplan.co.uk, animalfriends.co.uk, waggel.co.uk, agriapet.co.uk, tescobank.com/pet-insurance, petplanequine.co.uk , exoticdirect.co.uk, tsb.co.uk

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