CAR FINANCE SCANDAL

Car finance industry scandal is estimated to cost £11bn in compensation. But what does this number mean to their industry?

The Car market biggest source of income is the Motability scheme, where people with disabilities can get support to lease a vehicle. Some estimates say that one in five cars is purchased this way, at a total annual cost of just under £12bn per year to the UK taxpayer. Take that away, and they will be in real trouble.

If the firms collected the data centrally, and reported it honestly to their Boards, then this would arguably never have happened. Data is your guide. That’s why I started BAT. Charlie Palmer