6 reasons to buy a classic as your first car
25th November, 2020
Everyone remembers their first car – some stick in the memory for good reasons, while others are remembered less fondly. If you’re in the market for your first car, make sure you choose wisely – and that includes considering a classic.
Although you might not get the reliability that comes with a modern car, you get so much more for your money.
Plus, it might also be a hack for cheaper car insurance. Generally, classic car insurance is often cheaper due to the mileage being lower than that of a standard car, the understanding that most classic cars are a ‘second vehicle, and because the car is more likely to be well looked after by its owners.
We’ll touch more on the benefits of classic car insurance at the end of the article – but before that, let’s look at some of the other reasons you might make a classic your first car.
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You won’t have to take out credit to buy a classic
The trend these days, especially among young drivers, is to go down the route of car finance to secure a new pair of wheels.
A personal contract purchase (PCP), as they are known, often involves putting down a sizable deposit of £500-£2,000 then borrowing the rest of the purchase price (minus the depreciated value of the car at the end of the agreement) which is paid back in monthly payments.
While PCP can seem an appealing way to own a new car when you can’t afford to pay for it outright, it’s an expensive way to go about it. You can pay thousands of pounds on a three-year contract and not own the car at the end of it.
On the other hand, a classic car can be picked up cheaply. Even if you did decide to pay out hundreds of pounds each month – as you would with PCP – on doing it up, you’ll be adding value to it for when you come to sell.
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Classic cars can appreciate in value
When we talk about new cars, we often talk about how quickly they depreciate in value – “as soon as it’s driven out of the showroom” – but a classic car can go up in value over time.
It depends what the car is, of course, how in-demand it is and how well it’s been looked after. But you can usually expect to at least get back what you paid for a classic car, provided you treat her right and don’t put too many miles on the clock.
Even if you do decide to run your classic car into the ground, you can do so with a feeling like you’ve got your money’s worth.
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Classic cars provide a better driving experience
Modern cars are built to be safe and reliable – but that often comes at the detriment of the driving experience.
It can be a little boring and predictable driving a new car, which can be good for when trying to pass your test, but less fun when you’ve got your licence and you’re ready to explore!
Classic cars don’t have all the mod cons, but that just makes them more challenging and rewarding to drive. Put your driving skills to the test – you’ll be a better driver for it at the end of the day.
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You’ll learn a lot about car mechanics
In a recent survey, almost three-quarters of the millennials quizzed admitted they have no idea how to change a tyre.
More than a third of the respondents also admitted they would struggle to confidently open a car bonnet while 63% said they have never tried to fix, repair or modify a car they have bought.
The findings might be a consequence of many millennials driving modern cars which simply don’t need much maintenance.
But it’s handy to know how a car goes together. Then, if something does go wrong, you stand a chance of being able to fix it, rather than having to pay through the nose for a garage to do it for you.
As a classic car owner, you’ll quickly find yourself learning about car mechanics as you make tweaks and improvements to your pride and joy.
With so many tutorials now available on YouTube and the like, you’ll quickly find some new mechanical skills.
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A classic car can reflect your personality
Given how generic many of today’s modern cars are, it’s hard to find one that truly reflects your personality.
In contrast, classic cars are so much more characterful – you can find one that really speaks to you and your personality.
For example, if you’re a fun and carefree person, you might find a kinship with something like a Mazda MX-5, which is fast becoming a firm favourite among the classic car community. There’s a classic car for everyone – you’ve just got to find it.
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You’ll meet new people
Speaking of the classic car community, it’s a vibrant and welcoming world where people want to help each other – sharing tips on just about everything car-related so owners can bring their projects to life.
With a shared interest, you can quickly get to know new people. In the digital age, it’s so easy to keep in touch with those kind and helpful enthusiasts who can guide you in the early days of classic car ownership.
Protect your investment with classic car insurance
If you decide to opt for a classic for your first car, you’re going to need specialist classic car insurance.
Whatever model you end up buying, we can offer cover to match. Lancaster Insurance is the classic car insurance broker of choice for owners all across Great Britain.
Like you, Lancaster is passionate about classic cars. Drawing on the recommendations from our panel of specialist underwriters, we will search for the best classic car insurance for your cherished auto.
Policy benefits, features and discounts offered may very between insurance schemes or cover selected and are subject to underwriting criteria. Information contained within this article is accurate at the time of publishing but may be subject to change.
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