The classic car market has been booming in recent years. Whether it’s a whim or a true love of mechanics, there are some things you should know before acquiring your future piece of jewelry. How to maintain your vehicle? Which classic car insurance to choose? We explain to you.
What are the criteria for a car to be classified as a collection?
Since July 1, 2009, the conditions for a vehicle to be declared a collector’s item have changed. The car must be at least 30 years old, instead of 25 years old.
Invest in a classic car
More and more, the classic car attracts buyers. It is undoubtedly the diversity of choice that makes you want to invest in an old jewel. It’s easier to opt for an old car in 2017 than it was in 1980, simply a matter of age.
To buy the classic car of your dreams, you have several options:
- go through one of the many websites that offer this type of sale, from individual to individual.
- buy at auction: a rather interesting system so as not to spend too much. Unless, of course, your preference is for a very popular car that will start at an astronomical price.
- opt for the professional market: from consignment to the collection branch of a brand.
By buying at auction or through a professional, you are guaranteed a product whose legality has been verified. On the other hand, when you buy from an individual, you must be careful to check that the gray card is in the name of the seller and that it corresponds to the vehicle sold.
Caring for your little gem
Registering a classic vehicle is quite simple, but maintaining a vehicle over 30 years old is not an easy task.
Before purchasing your little marvel, check that there is a mechanic nearby capable of servicing it . Unless you feel capable of getting your hands dirty yourself. But whatever the case, make sure you can find parts to make the repairs, because for a vehicle over 30 years old, it’s not a foregone conclusion .
How to insure your vintage car?
The good news is that if you want to insure a collector’s vehicle, it will cost you much less than conventional insurance. On the other hand, you must be at least 21 years old and have had no claim for at least 2 years.
Note that you do not need to have a collection gray card to take out such insurance. Registration and insurance are two totally independent things. If insurance is less expensive than for a modern vehicle, it is because insurers are not mistaken. They know that you will pay more attention to your wonder and that it is only a car for occasional use. That said, to insure a classic car, you will need to prove that you already own a car that is insured in the normal way.