MARTIN Lewis has warned drivers who are owed £1,100 from dodgy dealers to "log a complaint now and then you can chill".
The MoneySavingExpert highlighted during his ITV show, how much of the country could have been deceived on their car finance deal.
Martin explained that millions of motorists have overpaid in fees without knowing due to "hidden commission".
If you bought a car, van, campervan or motorbike on finance before January 28 2021, Martin says you may be affected.
Martin revealed that around 40 per cent of these purchases had hidden "Discretionary Commission Arrangements".
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Lewis' key point was that lenders let brokers and car dealers make up interest rates to increase commission.
Brokers could then hike up interest and charge more in order to receive more commission.
It meant that those purchasing vehicles did not know it was not a fixed-interest rate and could actually be negotiated.
He urged anyone who took their car out on finance to check their terms and if effected, put in a complaint as soon as possible.
Your complaint should be made to the lender that provided the car finance.
This is the firm you actually paid each month – not the broker or car dealer.
Doug, who was in the live audience of the Martin Lewis Money Show on Tuesday, said his daughter took Martin's advice after he first spoke about it two weeks ago.
Doug said: "Our daughter, she took out a finance loan with a company five years ago.
"She took your advice and got in touch but hasn't had a response. What do we do now?"
Martin said companies have been inundated with emails but they should reply within 28 days.
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He added: "If it's not been 28 days give them time to respond. If they don't, I'll be putting advice on social media with what you can do then.
"But until that time, just chill."
This practice was banned by the Financial Conduct Authority (FCA) in 2021 - but the regulator has now launched a new investigation that could lead to overpaid interest being paid back to anyone who is affected.
The investigation will look into personal contract purchases and hire purchase, but it won’t include personal contract hire, also known as leasing.
Martin said that billions of pounds could be returned to millions of drivers.
He further explained that the earlier you put a complaint in, the less chance you will be timed out with the deadline for complaints.
And he added that there is no need to use a claims management firm to complain, because it would take a cut of any money you're due.
It also doesn't matter if the car's now paid off, so the agreement is over.
The Money Saving Expert says you are still eligible to reclaim, even if the car was repossessed.
Of course, if your purchase was interest-free you cannot claim for any cash.
