Thinking about buying a classic car? The reality of owning a classic car can be very different to admiring one in a showroom, so before you make the decision, here are a few pros and cons to give you a better idea.
There’s something fantastic about owning a car that, at best, maybe a few other people have. Getting to own and drive something unique can give you a real buzz and make you really appreciate the vehicle you own. Each different classic car has its own personality and joy can be found searching for the perfect make and model to match your own.
Classic cars don’t handle the same as modern vehicles. They just don’t. And that’s part of the fun. Many classic car owners will tell you the joy of having a classic vehicle is the drive – it really doesn’t matter where you’re going!
Increase in value
Any modern car you purchase will depreciate in value as soon as you drive it from the dealership. But many people collect classic cars and use them to make money. Even if that’s not you, it’s nice to know that your prized vehicle will appreciate in value over time, as long as its properly are maintained and taken care of.
Owning a classic car can evoke such a strong emotional response that’s pretty hard to ignore. Many classic car owners love the style and feel of cars from a particular era, or have childhood memories of a certain model. Whatever the reason for you choosing your particular make of classic car, you really can’t put a price on the feeling it gives you.
High running costs
Owning a classic car comes with many associated costs. Initially, classic cars are generally more expensive to purchase because of their rarity. But maintenance costs are usually higher on classic cars. You may need to take your vehicle to be repaired more frequently than with a regular car, as classic cars are more likely to breakdown given their age. Additionally, repairs can be more expensive as you may have to take your car to a specialist garage, and spares can be quite expensive if they have to be custom parts fabricated specifically for your car.
Or should we say unreliability. As we mentioned in the point above, classic cars can breakdown more frequently than modern cars which can be a major downside. It’s not so bad if you only take your classic car out for a spin for short drives on the weekend. But it can be a pain if you’re a fan of taking long, cross-country trips.
As classic cars were made in a time when many health and safety standards were not in place as they are today, there can be an issue of safety. However, you can make modifications and upgrades to make your classic car much safer for use on modern roads and if you want to take it on a motorway. You’ll need to ensure there are working seatbelts, the tires are upgraded and you can even add airbags.
Due to the age and type of engines they have, classic cars are not eco-friendly and can therefore be a contributing factor to pollution. Additionally, these classic cars are subject to the recently implemented green tax which would be an additional running cost.
It’s important to put some real thought into whether you’re going to purchase a classic car, but at the end of the day, if the joy you’re going to get from owning one outweighs and drawbacks then we say go for it!