Barclays to offer early car finance compensation while the FCA scheme is delayed

[CMPunk_Mike]

Some car finance customers could get compensation sooner than expected. MoneySavingExpert reports that Barclays Partner Finance, part of Clydesdale Financial Services, will make early offers to some customers whose complaints it acknowledged by 1 October 2026

All offers will go out by the end of November. Customers will have a month to decide, and payments should arrive within a month after that, so by 31 January 2027 at the latest

The offers follow the Financial Conduct Authority's method, averaging around £830 per agreement. Accepting is full and final, so anyone who accepts would miss out on any increase if a court challenge raises payouts, which MSE suggests could be 20 to 30 percent

The FCA's wider redress scheme is on hold while several firms challenge it in court, with a hearing scheduled from 16 February to 3 March 2027, and scheme payouts are unlikely before late 2027. Martin Lewis said that if you have complained and are offered money by Barclays, you should take it, and 64 percent of people he polled said they would accept an early offer

An average of £830 paid within weeks is attractive compared with waiting another year or more. The risk of missing a small uplift seems worth it for most people. Anyone with a Barclays car finance complaint should watch out for their offer

Would you accept an early car finance offer or wait? And have you made a car finance complaint?

Car Finance Barclays Settlementwww.moneysavingexpert.com