16th May 2013
PPI payouts are causing car sales to rocket in Britain – as claimants start to splash the cash.
And those scooping the windfalls are also using the money to pay for dream holidays, perfect weddings and home improvements.
Boosted by the £9billion paid by banks in PPI compensation to date, private car sales have leapt by nearly 33 per cent, with new vehicle purchases up almost 15 per cent year on year.
And the average payout for PPI is £2,750 per person, higher than the £2,500 estimate at the end of last year.
Lloyds recently revealed that they received 1.4million complaints about the mis-selling of the controversial insurance in 2012 and now those benefiting are pushing the boat out.
Source: The Sun
Posted in PPI, Mis-selling Scandal, UK economy, Banking, PPI Reclaim