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Daily Mirror
Daily Mirror
Business
James Roger

Martin Lewis’ issues key advice for car owners during the coronavirus pandemic

Financial expert Martin Lewis is advising car owners to think about their usage during the Covid-19 crisis.

His latest advice relates to driving, and owning a car, during the ongoing coronavirus lockdown.

With many cars just sitting idly in driveways up and down the country, the financial guru issued an update to his followers and guidance over cancelling insurance, Birmingham Live reports.

"The difficulty is we don't know how long lockdown will last,” said Mr Lewis.

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

"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.

Drivers need to consider what to do about insurance during lockdown (stock image) (Getty Images/iStockphoto)

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

It follows previous advice issued by the consumer expert that describes how people can get an interest-free loan for a year, where he helped explain the small print on the Government's new business loan scheme.

It means anyone with a business can take an interest-free loan for a year of up to £50,000 - and use it to supplement their incomes.

He has also advised consumers on how to get refunds on holidays, childcare, weddings and festivals.

Customers have lost thousands of pounds with firms handing out vouchers, despite consumers being legally entitled to a full refund.

"But the law states you are allowed your money back," he previously explained.

Mr Lewis also laid out what people need to think about before they decide to pay the balance on any trips planned for the summer.

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