Your favourite car has come a long way with and now when you look at it, it seems to be a used car. Taking to the garage, you come to know that the repair cost will not prove to be an economical affair.
Are you considering it to a classic car? Let’s explore on the facts that makes a car to be a classic car.
The major criterion to categorise a car under the classic vehicles is it should not be in production anymore. Many hold the opinion that if the car becomes old, it comes into the classification of classic car, but the correct definition is different.
As per the definition of HM Revenue & Customs, the car over the age of 15 years with a value more than £15,000 is categorised under classic cars. Many car insurance companies consider a car under classic insurance policy irrespective of the value, the only criterion being it should over 5 years.
The car built before January 1973 is catergorised under classic cars. The license disc as historic vehicle is issued once the built date passes the verification from an authorised body like British Motor Heritage Foundation.
Once you establish your car as classic car and wish to sell it, you may enjoy better price as there are many people interested in owning a classic vehicle to restore it. There are many car restorers who intend to buy the car for it parts. To know about specialists car restorers, there are specialist car magazines and online car selling resources like ebay.
If you just love making your classic car a part of a road show, there are insurance brokers available to advice you on vintage automobile insurance quotes, cover and car valuation in case the car meets an accident. The broker being specialist in classic car insurance makes you aware of the quotes during total loss.
