One of the areas that differs considerably between modern and classic cars is deprecation. This is perhaps one of the most frustrating facts for those driving a modern car – the knowledge that all of the money they spend keeping their car roadworthy is having no impact on its overall value. In fact, nearly all modern cars will depreciate a considerable amount during their lifetime. For example, a brand new, entry model VW Polo, purchased for just under £8000 will be worth a tad over £3000 in four years time, that’s a deprecation of over £1000 a year!
A well looked after classic car thankfully, will not share this same painstaking truth, in fact in some cases, albeit rare cases, they even appreciate.
Secondly there’s the insurance, which can work out considerably less when compared to a policy for a typical modern-day car. In most cases you will have to be over 25 years old to insure a classic car however, when you do, expect to pay no more than a couple of hundred pounds. This can be slashed even further if you opt for a limited mileage policy, which is advised if you do not intend to use your classic as your main method of transport.
Road tax is another area those driving classic cars reap the benefits of; as if their vehicle was built before 1973 then they are not required to pay a penny. This can save roughly £160 a year alone! It’s worth noting that a tax disc still needs to be displayed, essentially just to prove that your vehicle had a valid MOT and insurance.
As you can see there is a great deal to be saved when investing in a classic car, with regards to insurance, MOT costs and overall car value. If you need classic car insurance, then the internet is an excellent place to source and compare quotes as well as finding out all you need to about classic car insurance.
#1 by joe america on September 28, 2009 - 7:56 pm
I would go with the Classic Car Insurance because other wise you might not get as much as you want for your car if it is ever totaled or stolen. I know some classic car insurance is stated amount & regular insurance is ACV (Actual Cash Value)
#2 by Ronnie B on September 28, 2009 - 8:01 pm
I have read in many magazines including Hot Rod and Street Rodder….. that "The Golden era" which ended 1973 is the cutoff of a classic. Sorry 1986 is not a classic year….. even though many nice cars came out of the later 70's and 80's…… I see classics as 1960's and earlier….. nothing special about a 1979 mercuy marquis……
#3 by IRONSEAN7 on September 28, 2009 - 8:49 pm
that ELDO is a sexy ride
#4 by all4mac on September 28, 2009 - 9:22 pm
You got that right !! Hell after 6 months they won’t ))
#5 by jacquebalderas on September 29, 2009 - 11:26 am
I would suggest that you have your car appraised and then insure it on a stated value policy through a mainstream insurance company. Ask your insurance agent about stated value policies to see of they have them available.
#6 by mikeshotrodshop on September 29, 2009 - 4:03 pm
According to various sources, sometime between 1895 and 1898 Gräf & Stift built a voiturette with a one-cylinder De Dion-Bouton engine fitted in the front of the vehicle, powering the front axle. It was thus arguably the world’s first front-wheel drive automobile, but it never saw mass production, with only one copy ever made.
The first successful application of front-wheel drive was the Miller 122 racecar designed in 1924 by Harry Arminius Miller of Menomonie, Wisconsin.
#7 by geoffdundee on September 29, 2009 - 7:42 pm
ALL BEAUTIFUL CARS……i especially liked shape and look of the first black one..bonnet was HUGE too.
#8 by qaligula on September 30, 2009 - 1:21 am
that 55 cadi is the car of my dreams!
#9 by Abby on September 30, 2009 - 1:59 am
I'm not sure what you mean by 'classic' so I'll just assume older than what is currently a daily driver on the road and maybe a bit of "muscle". If that is your definition, I would suggest you first visit eBay Motors and scroll through the makes and models. Ford Mustangs circa 1964 1/2 to 1973 have good appeal and parts for restoration are readily available. If you or someone you know is "into" restoration, old mustangs can be had relatively cheap, and in running condition. Then, they can be customized or the engine upgraded with performance features to make a true muscle machine. Pontiac Firebirds, Chevrolet Camaros, and others are out there but the more authentic and number matching, the more expensive the hobby. If you're talking 1930'ish cars, then that is another story. Good luck in your quest.
#10 by Bosmob on September 30, 2009 - 5:41 am
I want a 1950’s Series 62 pretty bad
#11 by mikser6666 on September 30, 2009 - 9:07 am
god damn that car is beautiful classy both of them wow so preserved and keept in perfect condition
#12 by fluffy1 on September 30, 2009 - 1:08 pm
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#13 by danielmbyrne on September 30, 2009 - 7:31 pm
craigslist, myspace classifieds, and ebay
#14 by Eric on September 30, 2009 - 9:00 pm
restoring cars is about what you love
it is not a money making endeavor or a wise investment
find a car that you've always wanted
the hours and time you spend will not be worth the money you'll get at the end
the things you learn along the way or the time spent with you Father will probably be the biggest benefits.
VWs are bringing really high prices these days.
I've always wanted to own a 1973 Cadillac Fleetwood Eldorado convertible ever since seeing the Clint Eastwood movie Thunderbolt and Lightfoot.
#15 by mikeshotrodshop on September 30, 2009 - 11:55 pm
emdb1981— Actually the Cord was a long time AFTER the first FWD. The Gräf & Stift was the first.
#16 by argh.pirate on October 1, 2009 - 1:49 am
Depending on the year of the car, Broadway Title in Alabama can get you a legal title. Alabama used Bill of Sales for many years. I know for any Antique or
Vintage automobile and also for some classic cars they can get you documents to legally title your car. You can look them up on the internet and they will show what years they can title cars. I have used them several times to get me titles for 1920 and 1930 cars and cut through all the red tape most states put you through to title classics or antiques with no titles. It costs about $100 to $150 dollars to get all the paper work, but they provide everything you need.
#17 by chazfensk on October 1, 2009 - 11:03 am
Wow! What a find!
#18 by Eli on October 1, 2009 - 7:34 pm
Hi. It basically depends on how much u want to spend to restore it. Concours to keep in a museum, show car or driver. I always restore to "driver" quality……i am a working man, just as long as i get in the show in my ride i am happy. Many old cars inspire "emotions" but only a few are worth what you put into them or more. The "JH" is a neat car……keep your costs low and just restore it enuf to drive and enjoy. I have always had a classic "toy" car. I may win a trophy here and there for something meaningless at a car show…….i don't really care; i drive my trophy!!!! Just get it running and driving safely, maybe slap on a new coat of paint, enjoy it as much as u can as cheaply as you can……and sell it to someone who makes you a rediculous offer; if u get lucky. Good Luck!