Owning a classic car is a pleasurable and challenging cauldron of emotions that cannot be matched by owning any other car. One moment you can be enjoying the thrill of a country ride with the roof down, wind blowing in your hair, and 30 minutes later, it won’t start. Alas, it’s all part of owning a classic car: you have to take the rough with the smooth.
You'll find all the former presenters of Top Gear own classic cars, while Chris Evans owns a few very expensive classic Ferraris, but why do we car enthusiasts love the classics so much?
I think it’s because classic cars have real character, and a history that sets them aside from all other cars. They're sometimes challenging to drive but for me, one of the biggest reasons to own a classic car is their beauty, and they can be a great investment. These days, they're often seen as a smarter investment than a savings account.
"If you were lucky enough to buy an Aston martin db5 twenty-five years ago, you'd have seen its value increase 10 times."
Similar to buying shares or a house, the best time to buy a classic car is when a car is undervalued or rises in price may be expected. It’s important to do your research and decide what you want, as well as considering all the other costs associated with owning a classic car such as insurance
, storage and having any work done to the car.
Have a look out for people selling rusting, dusty old sports cars from garages. Despite their poor condition, so-called barn finds can go for mega bucks, even if it means spending money on it to bring the car up to mint condition. An Aston Martin DB5 that sat in a barn down where we live in the South West for nearly 30 years recently sold for £320,700
– the owner paid £1,500 for it in 1972.
What car to buy?
If I could recommend buying a classic car right now as an investment for the future, it would be the MGB/B GT (1962-1980). Cost-wise, you’re looking at £3,250 to £10,000 depending on its condition. The MGB roadster and B GT coupé are extremely popular and highly valued so it would be a strong classic car investment.
Finally, if I could own any classic car today it would be a 1963 Ferrari 250 GTO
. Why? Not only does this classic Ferrari look stunning, it’s also worth a few quid - it’s the most expensive car ever sold
, going under the hammer for approximately £25 million!
Car enthusiast and blogger Mark Shaw lives in Cornwall and runs the popular cool cars blog