There could be financial benefits to switching to a pay-as-you-go driving scheme, it has been claimed.

Paul Johnson, spokesperson for car hire firm Streetcar, observes that "there is a big financial driver" to taking advantage of the company's scheme.

With locations in six UK cities, Streetcar allows a driver to hire a vehicle for a set period of time then simply park it in a designated location.

However, for many motorists the desire to own their own car could remain a deciding factor.

Secured loans may be an option for Britons looking to purchase a vehicle, rather than to hire.

Mr Johnson adds that there is an extra financial burden to joining a car club as the necessary insurance must be in place.

"From 21 there is an excess on it and you can choose to pay a little bit more per year to help the excess drop," he explains.

But for those who prefer their extra expenditure to contribute towards a car of their own, secured loans may prove a wiser option.ADNFCR-1287-ID-18363271-ADNFCR

Request a Callback

Fill in your details and we'll call you back