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Glasgow Live
Glasgow Live
National
James Rodger & Laura Ferguson

Martin Lewis' important advice to car owners during lockdown

Advice has been issued to drivers with cars sitting on the driveway during the lockdown.

Martin Lewis, founder of MoneySavingExpert.com has given guidance on owning a car during the nationwide lockdown.

Mr Lewis has his own show, The Martin Lewis Money Show, which airs weekly, reports our sister title Birmingham Live.

He is also regularly seen during stints on the likes of Lorraine, This Morning and Good Morning Britain.

Mr Lewis is renowned for his financial tricks, tips and hacks, and in an update to his followers, he issued guidance over cancelling insurance.

The lockdown has seen many cars out of use, with the roads eerily quiet around Glasgow.

On cancelling car insurance, Mr Lewis says: "The difficulty is we don't know how long lockdown will last.

"If it's just weeks, this'd be a faff for a small saving."

But he adds: "Yet if you don't think you'll drive much anyway even when the rules relax, then, for example, if you've two cars and are only likely to use one, it could save you cash.

"Though do remember if you've no car insurance, your car isn't covered for damage or theft."

Even if you're not driving at all due to the lockdown, you'll still need car insurance, unless you keep your vehicle on private land in which you will need a SORN.

Mr Lewis also says people could request payment holidays from next Wednesday, May 13.

He said it applies to car instalment payments, revealing: "The Financial Conduct Authority has announced proposals, likely to be rubber stamped this week and in place by next Wednesday, that mean people can get several things."

These include payment holidays for 1-3 months on request, this is for those paying monthly insurance and struggling because of coronavirus.

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