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As classic car owners, we’re really just temporary custodians of vehicles that have seen many previous owners and will hopefully see many more in the future. So, what are the options for finding a new home for your precious classic car after your death?

 

Owning a classic car is not for everyone

Leaving a classic car to a loved one in your will is a nice idea, but you should be sure that the gift will be welcomed by the recipient before going ahead.

As a classic car lover, you will know that the storage and maintenance of old cars can be expensive and time-consuming, with significant overheads such as repair costs and insurance for a classic car.

Even if your loved one is enthusiastic about classic cars, they might not be ready to take on the responsibility of owning and caring for one.

Technically, classic car insurance lapses the moment a policyholder dies. Most insurance companies offer a grace period while your estate is sorted out but your will administrator may wish to buy temporary insurance to ensure the vehicle is not uninsured, particularly if it is kept on the road.

Moving the vehicle to a secure location until the new owner can take possession of it and register their ownership with the DVLA may be a good idea.

If you don’t want to leave your classic car to someone you know, there are plenty of other options.

There are even several schemes that ensure your vehicle finds a new loving owner as well as benefiting a good cause.

Donating your car to a museum

You might be able to find a museum that is willing to take your vehicle as a stunning new item to add to their display. However, bear in mind that museums often only showcase the rarest and finest vintage vehicles - your car might not be what they are looking for.

As there are costs involved in taking on a vehicle, museums have to be picky about what they accept.

If you think your classic might be a good candidate to join the roll of honour in a motor museum, contact them to check if they would be interested before confirming this in your will.

You might want to consider the National Motor Museum, the British Motor Museum, the Haynes Motor Museum or another collection nearer to your home.

Museum collecting policies often take into account what they already have in their collections and what your car could add to the story they’re trying to tell. For example, the British Motor Museum is very British Leyland-centric.

So they’re always particularly keen on vehicles that offer a fresh perspective on that period of British motoring history.

And while it’s not unusual for classic car collectors to donate vehicles to their favourite museums, have you also considered other things you own that might be of value to such institutions? For example, many collectors have a variety of books, user manuals, advertising brochures and other paper ephemera about the make and model or even the individual car itself.

These unique and rare items all help add to the story of your car and others – don’t ignore this fascinating element when considering museum donation.

 

Donating your car to a car club

The UK is a hub for classic car enthusiasts of every make and model. And the backbone of this is the network of classic car clubs to be found throughout the country.

While many of these clubs are simply there to support owners and share information some are actively dedicated to the preservation of certain cars.

For example, the Standard Motor Club is dedicated to the preservation of Standard Cars produced between 1903 and 1963 and aims to rescue as many cars as possible. They accept donations of cars, car parts and materials in a whole range of conditions.

From those still running to those which will require a tow or even a trailer to transport them, there could be a great new home awaiting your beloved classic.

Donating to a classic car club could be particularly useful for owners whose cars are still very much a work in progress.

It’s never nice to leave the world with unfinished business. So, what better way to find peace than to feel that someone else is to take on the task of restoring your vintage beauty back to the condition it deserves.

Also, remember that all those spare parts you might have amassed over the years could be the missing piece in another member’s classic car restoration project. What a great way for your love of cars to live on in someone else’s labour of love.

Donating your car to an apprenticeship scheme

Vintage car mechanics have to learn their trade somehow, otherwise there will be no specialist workers to take care of classic cars in the decades to come.

Vintage specialists tend to be on the older side, leading to concerns about a shortage of skilled mechanics in the future.

Having a vintage car for young enthusiasts to work on is a real asset for colleges and apprenticeship organisations, but as you can imagine they are usually strapped for cash.

Donating your vehicle could be a wonderful teaching tool and a great way to ensure that the love and care for such classics is carried on for generations to come. 

 

Donating your car to a charity

A popular way to donate a classic car is to find a charity close to your heart and donate it directly in your will.

Just last year two rare Ferraris gifted to the Royal National Lifeboat Institution (RNLI) funded a brand-new lifeboat station in Pwllheli in North Wales and vital new equipment for the Hastings lifeboat station.

The sale of the 1960 Ferrari 250 GT SWB and 1967 Ferrari 275 GTB/4 raised an incredible £8.6m at auction for the RNLI. While your donation might not reach those dizzy heights, charities are always looking for donations to fund their vital work.

Another popular way to give cars to charity is through a car donation organisation. Giveacar and Charity Car are two not-for-profit organisations that drivers use to give their cars away to charities.

While cars that are beyond help are recycled for scrap value, dismantled and sold for spare parts, other more valuable cars are taken to auction. The profits of the auction are then passed on to the charity chosen by the car’s donor. 

While both organisations aim to maximise your donation for their charity partners, if you think your vehicle holds significant value, then give them a call before donating to check you're happy with their assessment of its potential value.

Remember, if you’re not sure how much your classic is worth, Lancaster can offer two-year agreed valuations as well as classic car insurance. Ask the team for more details.

Selling your beloved classic

If none of these options is for you and you’re worried about what will happen to your car following your death, it might be worth selling your classic car now. That way, you are in full control and can then use the proceeds as you would like.

From a holiday for you and your close family, to gifting the money to family, friends or a charity the choice is then up to you. 

There are several options to consider when it comes to selling your classic – each with their own pros and cons.

 

Private sale

Selling the car privately through a website like Autotrader or an auction website like eBay, is relatively straightforward (if you know how) and will often result in a sale that reflects the true market value of the car.

However, in either case, there’s a degree of work that needs to be put in and it can take time to sell.

From arranging photos and adverts to dealing with potential buyers, there’s plenty to do. Another unfortunate problem is the number of scams and dodgy buyers out there.

 

Via a dealer

If you don’t want the hassle of a private sale, then arranging to sell it through a classic car dealer could be an attractive option. This route offers convenience and they deal with the whole process for you. However, this can take longer and is unlikely to yield the best price for the car.

If you’re thinking of selling your car to a dealer then be aware that they will drive a very hard bargain!

 

At auction

In the case of more valuable or classic cars, you might be better off contacting specialist auction houses to ask their advice on a valuation. Don’t be put off by some of the myths of car auctions, many of them aren’t true.

Selling a car at auction does mean you’ll get a relatively quick sale and it won’t cost you too much in terms of time. However, this does come at a financial cost.

Not only might you have to pay to get your car into the sale but you’ll also need to pay commission on the final sale price (many charge around 5% plus VAT).

Also be aware that you might need to pay a fee if the car fails to sell, and there are often other additional costs that auction houses charge. For example, they may charge you for a pre-sale valet or for pre- and post-sale storage. Do your research and check the fine print to avoid any nasty surprises.

Classic cars to drive before you die

While you might be thinking of what to do with your classic following your death, that doesn’t mean your years of classic motoring are behind you.

Some of the best experiences may still lie ahead, just make sure you’ve got the best classic car insurance to deal with any bumps and scrapes along the way.

How about putting together a bucket-list of the classic cars you’ve always wanted to drive? Perhaps one of these takes your fancy?

Any Lamborghini – Whichever Lamborghini you choose there will be superlatives a plenty heaped upon them. From the sexy Miura to the iconic Countach these really are what dreams are made of.

Chevrolet Corvette – We have to make space for some hairy-chested American muscle on this list. You’re unlikely to go quietly into that good night behind the wheel of this beast.

Aston Martin DB5 – Who wouldn’t want to feel like James Bond?

Porsche 911 – Whichever generation you choose, they’re pretty much the epitome of lustful classic car thoughts and represent vintage driving at its best.

Jaguar E-Type – Enzo Ferrari called this the most beautiful car ever made. And it’s easy to see why, these are classic British sports cars at their best. With a combination of exceptional performance, luxury and class you won’t want to hand back the keys!

McLaren F1 – As close as you’ll ever get to a Formula 1 experience. With an astonishing top speed of over 200mph, don’t have a heavy lunch!

Mini – With personality and character to spare it might not turn too many heads compared to the others in this list but it’s a fun little car that needs to be driven, if you haven’t done so already.

 

Finding the right classic car insurance

Whatever you decide to do with your classic car, it needs to be covered by the right classic car insurance.

From beloved Morris Minors to cherished Minis, for over 35 years Lancaster has been the broker of choice for thousands of UK classic car owners. Finding you the right cover, at the right price is what we do. So, give us a call.

Our aim is to make sure that as many classics as possible are kept on the road for future generations to enjoy.

Choosing cover from Lancaster entitles you to a range of benefits including:

• Classic Car Club member discounts up to 25%
• Static show cover
• Historic rally cover
• Choice of repairer
• Salvage retention
• Two-year agreed valuation
• Laid up cover available for £18
• Limited mileage discounts

You’ll also have 24-hour access to our claims helpline and UK-based call centre.

Get a quote for classic car insurance today.

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.