There are many reasons why buying a vintage car is better than a brand new one. Apart from the nostalgic charm and individuality of classic cars, there are also sound financial and practical reasons why purchasing a vintage car makes perfect sense, especially if you love tinkering with old engines and are a dab hand with a spanner.
1. Low running costs
Older cars are easier and cheaper to repair and maintain than modern cars, which need to be taken to a garage when yet another warning light shows on the dashboard. Despite the common perception that new cars are extremely fuel-efficient, vintage cars are often also surprisingly economical to drive. Vintage saloons from the 1960s, for example, will easily achieve 35 mpg on unleaded petrol
2. No Depreciation
A brand new car will instantly lose value the moment it is driven off the forecourt, and will continue to quickly fall in value in the first two years of ownership. Classic cars, on the other hand, will hold their value at the very least.
3. Lower Insurance Costs
Rightly or wrongly, insurance companies assume drivers of vintage cars to be safer than drivers of new cars, leading to lower premiums.
4. No Road Tax or MOTS
Cars that were made before 1960 are no longer required to have an annual MOT, and cars constructed before 1973 are eligible for a zero-rated road tax i.e. one that is absolutely free.
5. Environmentally Friendly
Keeping an old car on the road and repairing it from time to time has to be better for the environment than consigning it to the scrapheap. Most classic cars were also produced in the UK and not shipped from abroad. Buying a classic car is recycling in action!
6. Social Benefits
Vintage cars are always a talking point and a great way to make friends. In the summer, there are many vintage car rallies across the country, which make a fun day out for all the family and a good way to meet other like-minded enthusiasts.