The UK Supreme Court is set to deliver a landmark ruling today on a £44 billion car finance case, potentially impacting millions of drivers. If you've financed a car through a Personal Contract Purchase (PCP) or Hire Purchase (HP) agreement, this decision could determine whether you're entitled to compensation. We're bringing you live updates as the judgment unfolds.

The case revolves around the way lenders calculated commissions paid to car dealerships when consumers took out PCP and HP agreements. The Supreme Court is deciding whether these commissions, which are based on the amount borrowed, created an incentive for lenders to push customers towards more expensive finance deals. Essentially, it's being argued that lenders failed to disclose these commissions, potentially leading to consumers paying more than they should have for their cars.

Millions of drivers across the UK could be affected. This includes anyone who took out a PCP or HP agreement between April 2008 and January 2020. The key criteria is whether the dealership commission was linked to the interest rate or amount borrowed. If so, you *might* be eligible for compensation. It's important to note that this is a complex issue, and not everyone will be entitled to a payout.

If the Supreme Court rules in favour of the claimants, it could trigger a massive wave of compensation claims against major lenders like Lloyds, Santander, and Volkswagen Financial Services. The total payout could reach a staggering £44 billion. Lenders may be forced to offer refunds to customers who were overcharged, and potentially pay interest on those refunds.

* Don't Panic (Yet): The Supreme Court's ruling is just the first step. Lenders will need to assess the implications and decide how to respond.

* Gather Your Documents: If you have PCP or HP agreements from the relevant period, keep them safe. You may need them if you decide to pursue a claim.

* Stay Informed: Keep an eye on news updates and official announcements from the Supreme Court and the Financial Conduct Authority (FCA).

* Consider Seeking Advice: If you're unsure whether you're affected or what to do, consider seeking advice from a financial advisor or consumer rights organisation.

We'll be providing live updates throughout the day as the Supreme Court delivers its judgment. Check back regularly for the latest news and analysis. This is a developing story with potentially huge implications for drivers across the UK. The FCA will likely issue guidance shortly after the ruling, outlining how lenders should handle potential claims. We'll keep you posted.

Disclaimer: This article provides general information only and should not be considered legal or financial advice. Always consult with a qualified professional for advice tailored to your specific circumstances.