The cost / benefit analysis goes a little deeper than simply pounds.
The advantage of owner driver against hired is that you get greater choice in owner driver.
So you can buy a kart that suits you, decide how close to the edge you want to run and you get a far wider choice of where and when to race.
Now, while it not make a great deal of difference on race day, typically people want to do a bit of extra practice and unless you live close to a Club 100 venue, you may not be able to find a suitable kart to practice on.
This gives you a second problem when you realise as a novice that it's race craft not talent that makes the difference, and race craft is allied to kart control and only practice can give you that. (OK there may be one of two supremely talented novices who get in a kart and make it go so much faster than every one, but they are rare). The only way to get kart control is to do lots of practice.
There's a certain satisfaction in racing against drivers you know, regularly, so the sort of clubracing of owner drivers gives you that, but there's also the challenge of seeing how you square up to anyone else, the big grid syndrome, grids of 60 plus are not common in owner driver, local club racing.
So if the budget isn't the most critical item, then you have to take account of the other factors. It's no use hire karting if after the third race you lose interest because you hate being last, not because you have less skill but you lack the practice or opportunity.
Mind you, you can hire your racing, but have a practice kart as well. If you don't stress it tp the level of racing, just learning kart control as an owner driver can be much less expensive.
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