Why buy a Classic Car?
Every year thousands of new car models are released into the automotive market offering new and exciting features. With the amount of varied new cars on the road it raises a key question, why are some classic cars still highly sought after?
Classic cars are purchased for a number of reasons; some people appreciate the look and style of an older vehicle, some enjoy the feeling of nostalgia a classic car can give them and others prefer a unique vehicle than those seen on the road today. The list is endless and each person will have their own reasons for buying an older vehicle, but what are the key benefits of purchasing a classic car?
Financial benefits – Whilst it may not appear to be a financially viable decision at first, they can actually save you money on annual motoring costs. Although these cars may understandably need parts replacing from time to time, their design often means that their parts are interchangeable with similar parts from the same time period that could be considerably cheaper. With the introduction of the internet, it is now easier than ever to research similar parts and find where to buy them from.
Depreciation – Classic cars tend to hold onto their value much better than modern cars which will potentially lose thousands during the first few years, that’s providing that the classics are well maintained, or restored. In some cases, a classic car may even go up in value as seen in cases like the Ferrari F40 and Bentley Turbo R.
Tax – There is money to be saved on Road Tax or Vehicle Excise Duty as cars that were created before 01/1/1973 and are registered as a ‘Historic’ rather than ‘Private Light Goods’ will qualify for Zero-rated Road Tax. Similarly, MOTs are also no longer required for a vehicle built prior to 1960 which could save a large amount each year if they decide to opt for a truly classic car.
Use – Low mileage is generally a desirable factor for the modern car buyer, but with classic cars it can be the reverse. The most reliable classic cars are the ones that have been used regularly due to the simple fact that inactivity can deteriorate a car. It’s only when a classic car is used regularly that its weaknesses are revealed.
Social and enjoyment – One of the major reasons for buying a classic car comes from the enjoyment of owning and driving it. A classic car is one to be proud of, they each have their own personality that has allowed them to survive multiple decades against the competition. As a result, many clubs have been set up where owners can browse, appreciate and discuss other classic vehicles creating a fun hobby for owners.
As listed above, there are many benefits a classic car can offer you. Check out our stock to see if there is something you’d like to pull parts from at our car breakers yards in York and Edinburgh.
