When Marcus Johnson clicked on a Facebook ad about car finance mis-selling, he had no idea that his spur of the moment decision could cost the car finance industry £13 billion and bring the sector to a standstill.
Johnson, 34, a factory supervisor from Cwmbran in south Wales, bought a £6,500 Suzuki Swift from a dealership in Cardiff in 2017 after he passed his driving test.
He couldn’t afford to buy it outright so he took out a finance deal through MotoNovo that cost £154 a month over five years, plus a £100 deposit. What he didn’t realise was that his car dealer received a commission payment of £1,651 on the deal.
Marcus Johnson said he would not have accepted the deal had he known about the commission
Johnson was not told that the dealership had an agreement with MotoNovo that