Car finance firms could be seeing an issue "on par" with the PPI scandal, according to one consumer compensation expert.
15.03.2024 - 13:17 / manchestereveningnews.co.uk
Martin Lewis has dished out his latest advice to help mobile and broadband customers save money as companies get set to hike prices.
Most mobile and broadband providers will be increasing their rates, ranging from 6 per cent to nearly 9 per cent with an average of 8 per cent. On this week's episode of the Martin Lewis Money Show Live, he explained that on average, someone paying £40 a month now will pay £43 a month from April.
However, he highlighted that roughly seven million people in the UK are out of contract and because of this, could halve their mobile costs while also doubling their speed.
Read more: Martin Lewis issues message to anyone with £5,000 in their bank accounts
Martin said: "Remember most of you are paying over £40 for bog-standard broadband. So, the cheapest deals out there are normally short-lived promotional deals on comparison sites - not direct from the firms - because the firms are allowed to put marketing spending into attracting new customers."
He also highlighted that customers claiming Universal Credit or some other benefits could be entitled to save even more cash. He explained: "There are social tariffs.
"Four million of you could be on those. That's from £12.50 a month for 30Mb - if you're on that, go check out what your provider offers it can be far, far cheaper.
"As for the speeds they advertise, actually, 50 per cent of people must get them at peak times, it's much better than it used to be. You don't normally need an engineer if you want to switch broadband so it's pretty easy to do unless you're switching to or from Virgin that can be slightly different sometimes.
"And if you don't want to switch, well go on a comparison site, benchmark the cheapest price and then haggle!"
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Car finance firms could be seeing an issue "on par" with the PPI scandal, according to one consumer compensation expert.
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