A polo-playing student escaped with a £55 fine after smashing into a former regional editor’s £60,000 Range Rover.
Banks was fined and given three penalty points after admitting driving without due care and attention at Exeter Magistrates’ Court earlier this month.
Marc told his old newspaper it was lucky “in a way” that Banks hit his large vehicle rather than a smaller car in front in which a young child was travelling.
He said: “The lady behind me was in a much smaller vehicle and had a child in the rear seat. If the Defender had crashed into her and not me I dread to think what the consequences might have been.
“Also, If I had not been in the way I think it would have gone through the hedge and overturned in a garden,” he added.
“If you take in to account the potential lost business, the time I spent chasing the repairs and the money I lost on exchanging the car, I am thousands of pounds out of pocket.
“The only upside is that no one was seriously hurt. It could have been far more serious.”
The court heard Banks, a student in urban planning at University of the West of England, had “clipped a kerb” and lost control of the Land Rover on the A3072 in Devon on 7 March.
Jeremy Wickham, defending Banks, said: “There is no suggestion he was travelling above the speed limit – it was a momentary loss of concentration, a mis-judgement.”
Marc, who now runs his own PR firm Astley Media, had been travelling to a meeting to give a presentation and potentially lost out on a £20,000 contract as a result of the incident.
His car required extensive rebuilding work, including a new gearbox and chassis legs.