Although many of us dream of owning a classic motor, however, the cost of purchasing and maintaining one often proves prohibitive. We’ve all heard of the increased price of parts, the difficulty of sourcing them, and the specialist insurance that we’ll need, and lots of us are put off by these unfortunate truths.
But if owning a classic car is your dream, then here are a few benefits that might make you think twice about discounting it so quickly…
There are lots of fun benefits to owning a classic car, but there also a number of practical ones, such as their exemption from tax. For those looking to save money, it helps to balance some of the more exaggerated costs attached to classic car ownership, and gives you at least one good reason to pursue your dream.
Tax exemption isn’t the only benefit for those seeking to justify the difficulties of owning a vintage motor; you might also want to consider their ability to hold their value long-term. Although most vehicles will rapidly depreciate with age, a true classic only becomes more sought after, driving up its price year after year. Provided that you’re willing to view it as an investment rather than an outlay, it can actually make a lot of financial sense to add a classic to your garage.
Of course, where would the fun be if you didn’t get to enjoy your classic? For enthusiasts, purchasing a vintage motor can help you to realize a long-held dream, and there are few things more worthy of having money spent on them than that. If you delight in the thought of driving your perfect car along unending stretches of country road, then it’s almost certainly worth your time to invest.
One deterrent for many classic car enthusiasts is the higher maintenance costs associated with owning one. However, although this is accepted as an unfortunate reality of keeping a vintage motor, the true degree of cost involved is frequently exaggerated. Indeed, although parts are usually more expensive to buy, and are harder to get hold of, old-fashioned engines are often a lot simpler than their modern counterparts, and many drivers are capable of carrying out simple maintenance and repairs by themselves.
If your dream is to own a classic, why not consider indulging today? We guarantee that you won’t regret it.
Posted by Yanira Farray on 12:57 pm, With 0 Reads, Filed under Investing, Personal Finance. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.