Martin Lewis has issued an urgent car insurance warning to motorists across the UK regarding how they pay for their car insurance amid fears they could pay hefty charges.
Posting on social media site X, formerly known as Twitter, the money saving expert asked drivers how they paid for their car insurance.
The results of the poll, which had almost 35,000 votes, found that 42.7 per cent of Britons pay "annually from the bank", compared to 32.2 per cent paying with a monthly direct debit.
More than 20 per cent of people said they pay annually via their credit card, while 4.4 per cent admitted that they do not have car insurance.
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Martin Lewis said it was a better choice for drivers to avoid using direct debit to pay their car insurance
GETTYFollowing the results of the poll, Martin Lewis issued an urgent warning to motorists, saying: "Monthly direct debit is a LOAN.
"They pay the year for you and loan you the money often at 20 - 40 per cent APR way more than a credit card.
"I'm shocked by how many pay by monthly DD [direct debit]. Avoid if at all possible, more help in [the MSE newsletter]."
He clarified his previous post, saying that it would be "way more" than a typical high street credit card.
According to the latest data from Confused.com, the average annual cost of car insurance in the UK is £882, a slight drop compared to the £924 paid on average in the third quarter of 2023.
While this is a fall compared to last year, drivers are still paying close to £1,000 to insure their vehicles, with certain motorists paying even more depending on their circumstances.
Those in Inner London can expect to pay an average of £1,404 per year, while 18-year-olds are quoted an average of £2,960
Motorists are frequently advised to shop around when looking to renew their car insurance as this could help them save hundreds of pounds a year.
Martin Lewis later added that many drivers would be "far better" putting the cost of car insurance on a zero per cent card and repaying it over 12 months.
He even suggested that motorists would benefit from a standard high street card with an APR of 20 per cent as it would undercut many big insurers who charge up to 40 per cent APR.
The money saving expert has frequently spoken about how Britons can save when it comes to their car insurance policies, including by renewing during one specific week.
Previously, Lewis has told motorists that the cheapest time to find the best car insurance prices would be between three and four weeks before their renewal.
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Drivers are encouraged to look around before automatically renewing their car insurance
GETTYAfter analysing more than 1.2 million car insurance quotes, the money saving expert team said the optimum time to save money before their coverage starts is 26 days before renewal.
Regardless of their timing, they are likely to see major savings between 20 and 27 days before their renewal date.