With the 2030 ban on the sale of new petrol and diesel cars fast approaching, the value of second-hand vehicles is skyrocketing. But this isn’t the only reason to hold onto your old banger!
Many older vehicles are becoming popular classics for those looking for a hardier make and model to go about their daily business. Older makes and models are often seen as more robust than newer car brands, but when does an old car officially become a classic? In this blog post, we answer that very question!
Whether it’s an old vehicle that has been wasting away on your drive for more years than you care to admit, or a treasured car that’s been well used within your family or stowed away for safe keeping, you could just be looking at a future classic!
Genuine classic cars are highly prized and particularly valued in the UK and the rest of the world, but what makes them classic?
Age is the main factor that determines a vehicle’s classic status. As a rule of thumb, a vehicle that’s aged 40 years or over is considered a classic. At this age, you also won’t have to pay car tax, as ‘classic’ cars aged 40 years or older are exempt. This is however not the only definition of a classic vehicle.
One person’s old car is another person’s treasured classic, which makes defining the age of a classic car particularly difficult. HMRC for instance states that any vehicle that’s older than 15 years is a classic, whilst car insurance providers have their own criteria for categorising classic cars.
Other industry experts define classic vehicles by more than just age. An old car could be a classic if it boasts a timeless design, holds nostalgic value, or features a certain type technology. Classic cars are usually desirable, but are more often than not no longer manufactured in the mainstream. Older, first generation models are also deemed to be more classic than next generation cars of the same make.
There’s such a thing as a modern classic, which make things even more confusing. The Audi TT for example, released back in 1998, is quickly gaining notoriety as a modern classic.
For cars that are even older, there’s more precise definitions available. Veteran vehicles are cars made before World War I. Cars classed as vintage are manufactured prior to 1930, whilst post vintage vehicles were made from 1930 to 1945.
Whether you have a classic, modern classic, veteran, vintage, post vintage or simply an old car, exploring our car storage options will give you the safety and security needed to protect your investment for the long or short term.
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