Sign up to FREE daily email alerts from Mirror - money Subscribe Thank you for subscribing We have more newsletters Show me See our privacy notice Invalid EmailChoosing to pay monthly for your car insurance could add £257 to the total cost for young drivers, new figures show. Research from GoCompare Car Insurance shows, between them, British motorists pay £544million extra by choosing to pay in in instalments - with the average driver able to save £55.36 by switching to a lump sum. But it's something almost one driver in three does, with people on lower incomes far more likely to pay this way despite it generally costing more. (Image: Getty)He added: “People paying monthly may see having to cancel a direct debit and set up a new payment as an additional hassle. How to break free from the monthly instalment trapGoCompare has the following tips for people looking to stop paying in instalments:

Source: Daily Mirror January 20, 2020 12:45 UTC