DRIVE AN INVESTMENT, NOT A LIABILITY

+ Click to Enlarge CLASSIC CHIC: The Citroen DS has timeless styling and incomparable ride quality.

November 13, 2008

The modern auto industry might be having a tough time but the UK's market for classic cars is buoyant as they continue to rise in value on the back of that same tough time.

Many classics are bought as investments but now there's the extra element of buying appreciating assets that can be used as everyday wheels and maintained in your own garage.

Pre-1973 cars don't pay road tax in the UK.

So, smart owners and potential buyers from across the UK and continental Europe will bring or browse among more than 1000 classics at Birmingham's National Exhibition Centre this weekend (November 14-16).

"Modern cars can be viewed as boring and people like the fact that classics are different,” said James Szkiller from the Classic & Sports Car Centre, an exhibitor at the show.

"Although some classics are not for everyday use, we are selling a lot of cars to people as investments; they are looking at the banking crisis and they want to put their money into something not only safe but which they can also enjoy."

Classic cars values are soaring and the cream of the crop – such as Aston Martins and Ferraris – are setting price records and taking the rest of the classic car market with them.

Simon Charlesworth, editor of classic car website www.dep-o.co.uk explained: "People who would have bought a £100 000 Aston Martin DB5 eight years ago can no longer afford today’s £250 000 price so they’re looking elsewhere – and it's this demand that is dragging everything up.

"At the top of the market people are buying classics as investments and at the entry level they are turning to classics because they are more affordable to run and maintain – and we’re not just talking about pre-'73 cars being exempt from road tax...

"More and more people are turning to classics because of the recession. They are far simpler and owners can maintain and repair them themselves. Even a specialist classic agreed-value insurance policy will cost you a lot less than a policy for a modern car!

"We know of a mint Austin/Morris Maxi from the 1960's that's being advertised for £8495 (more than R130 000!) when a while ago it might have been worth only a few hundred pounds.

CLASSIC BIKES, TOO

“It’s incredible, but then it’s always been the case that if you look after a classic it will appreciate in value – unlike a new car. Drive a modern car out of the showroom and you stand to lose 40 percent of its value instantly."

The the Classic Motor Show also hosts more than 300 trade stands and new for 2008 is a Classic Bikes section with more than 200 two-wheelers on show.

Up to £5000 to spend?
Morris Minor 1000 - Not sexy but so tough it feels as if it’s made from cast iron. How many other 60-year-old classics are still on the road and grafting for a living? The Moggy is a British legend with good handling.

MG Midget - It may be small but there’s more interior room than you think. Fantastic parts back-up (you can even buy a new body). Not fast in a straight line but you might overdose on the fun-factor.

Up to £15,000 to spend?
Citroën DS - Smooth-riding icon that is groovier than ever. Handily, its height-adjustable suspension makes it impossible to clamp or tow away. Magnifique.

Triumph TR6 - Six-cylinder sports car that was the last of the real Triumph TR's. Great spares back-up and an exhaust note that embarrasses some V8s. A real live wire.

Up to £25,000 to spend?
Bristol 401/403 - Classy, understated beauty with aerospace build-quality and a sweet two-litre, six-cylinder engine. Years ahead of its time and a serious contender for the coolest car of all time.

Alfa Romeo Giulia Sprint GT - Eye-popping Italian looks, a legendary twin-cam engine and handling that will bring tears to your eyes. One of the truly iconic Alfa Romeos.