The car finance mis-selling scandal has rocked the industry, with lenders facing up to £30 billion in liabilities, according to Moody’s. Yet, Anthony Coombs, a former Conservative MP and Chairman of S&U plc, has publicly downplayed the scale of harm caused to consumers.
Coombs, whose company owns Advantage Finance, a major player in the UK’s subprime car finance sector, recently released a trading update in which he claimed that the harm to consumers is “marginal” and suggested that the Supreme Court should take a “pragmatic” approach in dealing with the ongoing legal fallout.
But let’s be clear: this isn’t just a case of a business executive giving his opinion, this is a direct conflict of interest.
Not only does S&U plc own Advantage Finance, a firm that has provided over 250,000 hire purchase agreements, but Coombs also sits on the Executive of the Consumer Credit Association (CCA), a body supposedly dedicated to protecting consumers.
How can someone who profits from car finance mis-selling and helps shape the industry’s regulatory policies be expected to give an unbiased assessment of the damage done to consumers?
The Real Financial Damage - What Sentinel Legal Has Uncovered
At Sentinel Legal, our investigations over the last four years have exposed the true cost of hidden commissions in motor finance agreements.
£14.96 Million in Advanced Commissions
Santander paid £14.96 million to a dealer network, tied to a £75 million loan commitment.
This deal created a clear conflict of interest, as dealers were incentivised to push Santander’s finance products, even if they weren’t the best option for consumers.
£16,049 in Hidden Commissions on a Single Finance Agreement
In one case, a customer financed an £81,509.05 Land Rover, unknowingly paying £16,049.14 in hidden commissions, including:
£9,781.09 in scale commission (12% of the credit amount)
£4,279.23 in head office commission (5.25%)
£1,988.82 as an outcome bonus (2.44%)
This means that 19.69% of the total amount financed, and an astonishing 61% of the total cost of credit, was undisclosed dealer commissions.
🔗 Read how Santander structured its commissions to benefit dealers over consumers here.
Does this sound like “marginal harm” to consumers?
S&U plc, Advantage Finance & Anthony Coombs’ Influence
S&U plc isn’t just another lender, it’s a key player in shaping motor finance industry policies.
Advantage Finance’s Influence in the Industry
Member of the Finance and Leasing Association (FLA), the UK’s leading trade body for the finance industry.
Represented on the FLA Board, Deputy Chair of the Motor Finance Division, and Chair of the Credit Risk Committee—positions that give it direct influence over regulatory discussions.
Operates in the subprime motor finance sector, providing hire purchase finance to over 250,000 customers—many of whom were never told about hidden commissions.
Regulatory Conflict: Who Is Anthony Coombs Really Representing?
Anthony Coombs also sits on the Executive of the Consumer Credit Association (CCA) and chairs its Public Relations Committee, a group allegedly set up to protect consumers.
Yet, instead of advocating for consumer redress, he is:
Minimising the scale of financial harm, despite clear evidence of inflated interest rates and hidden fees.
Lobbying for a more “pragmatic” approach to Supreme Court rulings, likely to favour lenders over consumers.
Downplaying the financial damage, even as Moody’s estimates the industry could face £30 billion in liabilities.
This isn’t consumer advocacy, it’s industry protection.
🔗 Read more about the FCA’s role in motor finance mis-selling here.
Anthony Coombs: A Multi-Millionaire Defending Car Finance Mis-Selling?
Anthony Coombs isn’t just an industry insider, he’s one of Britain’s richest lenders, with an estimated personal fortune of £145 million, according to Business Live
As Chairman of S&U plc and Advantage Finance, Coombs has profited heavily from the motor finance industry, particularly in the subprime lending sector. While millions of consumers were unknowingly charged hidden commissions and inflated finance costs, Coombs and his company built their wealth from these very practices.
His trading update attempts to downplay the scale of harm caused to consumers, calling the impact “marginal.” But for the average consumer, the reality is very different.
Sentinel Legal’s investigations have uncovered:
£16,049.14 in hidden commissions on a £81,509 Land Rover finance agreement, where 61% of the total cost of credit was undisclosed fees.
£14.96 million in advanced commissions paid by Santander to dealers to push finance agreements—meaning consumers were paying for lenders’ backroom deals.
It’s easy to call consumer harm “marginal” when you’re worth £145 million and sit at the top of the finance chain.
🔗 Read more about how Santander structured its commissions to maximise lender profits here.
Sam Ward, Director of Sentinel Legal, Responds to Anthony Coombs’ Comments
"Calling the harm suffered by mis-sold car finance consumers 'marginal' is disgraceful. We’ve uncovered cases where over 60% of the cost of credit was hidden in dealer commissions, how is that minimal harm?"
"Advantage Finance, owned by S&U plc, is one of the major players in the non-prime motor finance sector. Coombs isn’t just commenting on the industry, his company is a key part of it. He has a direct financial interest in minimising redress."
"With £30 billion in potential liabilities, lenders are scrambling to control the narrative. The car finance industry is lobbying hard to limit compensation payouts, but we aren't going to let that happen without a fight."
What This Means for Consumers
If you’ve had car finance since 2007, you could be owed thousands in compensation.
The financial industry is already lobbying to reduce redress, meaning consumers need to act fast.
🔗 Find out how the FCA’s intervention will impact consumer claims here.
Frequently Asked Questions (FAQ) About Anthony Coombs & the Car Finance Scandal
1. Who is Anthony Coombs, and why is he involved in the car finance scandal?
Anthony Coombs is the Chairman of S&U plc, which owns Advantage Finance, a major UK motor finance lender.
He is also a former Conservative MP and sits on the Executive of the Consumer Credit Association (CCA), an organisation that claims to protect consumer credit rights.
However, Coombs has publicly downplayed the financial harm caused to consumers in the £30 billion car finance mis-selling scandal while leading a company that profits from it.
2. What is the £14.96 million advanced commission scandal?
Santander paid £14.96 million in advanced commissions to a dealer network that had a £75 million loan commitment tied to it.
This means dealers were financially incentivised to push Santander finance agreements, regardless of whether they were in the best interests of the consumer.
3. How much of the cost of car finance agreements has been hidden in commissions?
Sentinel Legal’s investigations uncovered that in a single Land Rover finance agreement, the total cost of hidden commissions was £16,049.14—which made up:
19.69% of the total amount financed (£81,509.05).
61% of the total cost of credit.
This shows that many consumers have been paying far more than they should have without being informed.
4. How can I check if I have been mis-sold car finance?
If you have had a PCP, HP, or lease agreement since 2007, there is a high chance you have been mis-sold car finance.
Hidden commissions, unfair dealer incentives, and inflated interest rates were common industry practices. Sentinel Legal can investigate your agreements for free and determine if you have a claim.
5. How do I start a car finance claim?
Starting a claim is simple:
Sign your Conditional Fee Agreement (CFA) - it only takes a minute.
Sentinel Legal will investigate your finance agreements.
If you have a claim, we will handle everything on a no-win, no-fee basis.
What Should You Do If You’ve Had Car Finance?
Sign Your Conditional Fee Agreement (CFA)
it only takes a minute.
We Investigate Your Agreements
we’ll uncover any hidden car finance commissions.
Get Your Money Back
we handle everything on a no-win, no-fee basis.
The Bottom Line
Anthony Coombs is attempting to downplay one of the UK’s biggest financial scandals while leading a lending company that profits from it.
Consumers should be wary of industry leaders who claim to protect them while lobbying against full redress.
🔗 Read more about how lenders structured hidden commissions to profit off consumers here.
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