Home » The Pros and Cons of Investing in a Classic Car

The Pros and Cons of Investing in a Classic Car

We all love the cars of time gone by, whether it’s the car that reminds you of your childhood, or the car that featured in your favourite cult classic film. If you’ve saved up the money but you’re still unsure as to whether or not you should go ahead and bite the bullet by purchasing a classic car, we’re on hand to help you make your decision. We’ve weighed up the pros and cons of investing in a classic car so that you can decide if you want to take the leap of faith!

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Purchasing a classic car isn’t the cheapest option to get around, but unlike modern cars, their value increases over time. This is a dramatic contrast to the top of the range new cars that decrease in value from the moment that you drive out of the show room! 

Classic cars were not made in the same way that modern cars are mass produced today and modern cars are not built with the same attention to detail that was used in the past when designing classic cars. Additionally, given that most classic cars are considered rare and are often well looked after, many classic car owners are asked to rent out their vehicle for weddings, car shows and other events! This could mean that you can earn back some of the money that you spent on buying the car initially. 

Maintaining Your Car

Keeping your classic car running can be time consuming and expensive, since most of these cars are out of production and their car parts aren’t produced anymore. You’ll have to be willing to dedicate some time to searching the internet and be willing to travel around the country to find the right car part for your car, should something go wrong with it! This is particularly the case if you decide to purchase a classic car that was produced outside of Europe, such as North and South America.

However, if your car is old enough, you might not have to pay for an MOT as it is exempt, nor will the car tax be as high. These savings could outweigh the potential difficulties that you’ll have if you run into trouble and need to replace a piece of your car or get it repaired, which can be covered by car insurance anyway.

Storing Your Car

With such a beautiful and precious car, you’re going to need to be able to store it somewhere safely where it won’t be damaged, stolen or exposed to the elements. Whilst having to store your car might seem a pain and costly, it means that you can have peace of mind knowing that your car is safe. 

However, it isn’t hard to find affordable and secure storage options. Jennings Storage are on hand to ensure that your car is protected with CCTV, security lighting and discreet storage facilities. Jennings Storage is a cheap car storage provider that is available for both short-term and long-term use. When you know that you aren’t going to need to use your vehicle for an extended period, you can lock it away securely, or store it there permanently if you do not have space in your garage for your classic car. If you’d prefer to have it at home instead of storing it with a company and don’t have the space, you could consider installing a metal car port, or even a new garage if you have the space. There are companies like Choice Metal Buildings who can build and provide the right size space for you to store you car on your premises, so at least then you have peace of mind knowing its safe at home.

No matter which classic car you go for, you know that you’re going to experience driving a vehicle like you never have before. Be prepared for passers-by to stop and ask questions or take photos, as classic cars are true historical spectacles and are moving pieces of art. If you haven’t already bought that car you’ve been dreaming of, what are you waiting for?