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Thinking of buying a classic car? Fantastic idea! But before you dive into the world of Morris Minors or MG Midgets, it’s wise to take a moment to think.

Buying a classic is not the same as buying a modern car. You need to be fully aware of the cons as well as the pros, so we’ve put together a quick guide for you below.

Of course, at Lancaster Insurance, we can’t pretend we’re not biased – we arrange insurance for vintage vehicles, helping fellow enthusiasts to enjoy many years of happy motoring. We hope you’ll join us soon.

 

Pro: It’s uniquely stylish

All doting parents know their baby is beautiful – and all classic car owners wax lyrical about the style and flair of their retro wheels.

What’s not to love about the Toyota MR2’s pop-up headlights, the Capri’s long, sweeping front end or the classic curves of a Beetle?

In a sea of modern cars, your classic’s retro styling will undoubtedly help it stand out from the crowd.

Today’s cars are great for reliability and efficiency but if you’re looking for something a little more unique, classics are the way to go.

Con: It’s not as safe

There’s no denying that older classic and vintage cars were made for an age with fewer vehicles on the road and a somewhat lax attitude towards safety.

However, they’re also generally lower in power, so you’re unlikely to be travelling at dangerous speeds. You can get safety features such as seatbelts retrofitted into many models.

Most owners take such good care of their vehicles that they’re always in tip-top condition. And you’ve probably got a modern car for a regular run-around, saving your classic for special weekend trips.

For these very reasons and others, classic vehicle insurance tends to be lower than regular vehicle cover as providers recognise that you’re less likely to have an accident in these vehicles.

 

Pro: It has history

Some people like their cars factory fresh. Not classic car enthusiasts. We love a good story – and older vehicles are crammed full of them.

Our classic cars connect us to a different age – perhaps one we remember from our younger years, or one we know only through books and films. 

Your make and model will have a fascinating story about its origins and development. It might be an icon of a particular era, like the Austin Mini from the swinging sixties.

And your actual vehicle itself will most likely have been on a few adventures with a series of owners. Your vehicle is living history.

Make sure it’s protected with an insurance policy, so it can continue to fly the flag for years to come.

Con: It’s not as environmentally friendly

As we’ve all become more aware of the ecological impact of driving, modern vehicle manufacturers have worked hard to find ways to improve the carbon footprint of their cars, particularly by improving fuel efficiency.

However, to be truly eco-minded, you need to use things for as long as possible before replacing them – and that includes vehicles.

Plus, there are many ways you can drive down the ecological impact of your classic. Maintaining it well, inflating tyres properly, driving at sensible speeds, and keeping mileage low are among the actions you can take.

 

Pro: It could increase in value

They say that the moment you drive a new car off the forecourt, you’ve reduced its value by 25%. If you sell it at the end of its first year, you’re likely to see its price slashed by up to 40%.

Not so with many models of classic car. If you maintain yours scrupulously, you’ll see its price rise. That’s because classics are valued by their history and rarity value.

Whereas five-year-old Volkswagen Golfs are ten-a-penny at used car showrooms, 25-year-old or even 45-year-old Golfs are another matter entirely.

They’re classics – and, like a fine wine, many have aged wonderfully (just make sure you find a good one).

Con: It can be expensive to run

Increased fuel efficiency and lower maintenance costs do mean it’s cheaper to run a modern car. But that’s only half the story.

With classic cars, the journey is as important as the destination. You’re paying not just for a means of transport, but for a hobby – even a passion! In that sense, the cost of keeping a classic car on the road is well worth it.

And if you learn to carry out some of the maintenance yourself, you can reduce the number of costly trips to the garage you need to take.

You can pick up lots of advice, tips and tricks at car shows and exhibitions so make sure you get out and about.

 

Pro: It’s a great hobby

Rainy day? Tinker on your vehicle in your garage. Sunny day? Take it out for a spin along the country lanes.

Want some quiet time? Devote yourself to your restoration project for a few hours. Feeling sociable? Go to a show or rally and meet fellow enthusiasts.

Classic cars really are a fantastic, varied hobby that will teach you new skills and get you meeting new friends. Plus, you can involve your whole family – or escape them!

Con: It can be unreliable

True, standing by a roadside in the drizzle with jump leads does take the shine off owning a classic car. And there’s no denying that many classic vehicles do show their age – often at the most inconvenient moments.

However, most owners reserve their classic car for occasional trips, limiting the likelihood of having to return home courtesy of a breakdown truck.

Plus, many are avid amateur mechanics, more than capable of changing a tyre in a layby themselves.

If you maintain yours well, there’s no reason why it can’t take you on some incredible adventures. Just make sure you’ve packed a toolbox and have taken out car insurance for your classic!

 

Get a quote from Lancaster Insurance today

Here at Lancaster Insurance, we’re eager to show owners that the pros of owning a classic certainly outweigh the cons.

We arrange cover for classic and vintage cars, including rallies, shows, and EU trips of up to 90 days.

We also offer discounts for limited mileage and club members, helping drive down the costs of classic car ownership. Contact us today for a quote for classic car insurance.