Classic cars of our time are increasing in value
With cars from the 80’s and 90’s now enjoying classic status we see the less exotic becoming more valuable we take a look at the classic cars of our time.
The term classic car these days isn’t just aimed at E-Types and MGB’s, as desirable as these may be to the relevant enthusiast. Later car models are now officially classic and are only going to increase in value as the public catches on. Peugeot’s 205 GTI or VW’s Corrado VR6 and many other cars of this era are well sought after, as are Range Rover Classics or even the “poor man’s” Porsche 944 are increasing rapidly in value as they are finally being recognised for what they truly are, classic cars of our time.
Over the last few years we have seen how the “Fast Ford” market has continued to improve, with prices soaring for mostly affordable cars from the recent past. Land Rover have seen the same with the Defender model no longer in production and VW have always been collectable with prices consistently increasing for the right models. These ‘average’ vehicles are becoming more and more sought after as they offer the buyer nostalgia, a memory of their youth perhaps, or just a car that they have always associated with as being in their own lifetime.
These workaday classics are clearly more accessible than Porsche 911’s or a Ferrari Testarossa although condition is key. Anything overly modified will not fetch the big money, in fact with these lower-end cars the value increase is only being seen with original examples in excellent condition. So now would be a good time to make an investment or indeed buy one in average condition and start a restoration project. This maybe the time we see more and more of these vehicles being put back on the road as enthusiasts finish their own undertaking while popularity soars.
With the previous price rise of Classic sports cars and super cars we are now seeing the back lash. Many of these vehicles flooding the market has caused a drop in value at the same time but for different reasons we see newer cars becoming classic. As mentioned previously these cars tend to be the car of the buyers past, the car they always wanted as a youngster, the car they can now afford.
As these more modern classics are now at least 25 years old insuring them is no longer a problem. What would have cost you an arm and a leg to insure or even would have been impossible to insure 20 years ago is now at the age where classic insurance is your best bet. Also you can get Agreed Value and a limited mileage option to save you even more on your insurance. Here are some examples below of insurance for the classic cars of our time:
- VW Corrado VR6, value £7000, year 1992 Comprehensive cover £189.25 with a £200 excess
- Peugeot 205 GTI, value £6000, year 1986 Comprehensive cover £127.23 with a £50 excess
- Renault Clio Williams, value £6000 year 1994 Comprehensive cover £213.49 with a £100 excess
Quotes based on a 45 year old male and limited mileage of 3000 per annum with a main car and club member discount.
As you can see premiums won’t break the bank and all prices include Agreed Value to protect your investment. For a quotation on your ideal classic car give us a call on 0121 248 9229 now.
These classic cars are seriously fun to drive and are of an era that is now more popular than ever. Our advice at Heritage Classic Car Insurance is to buy now and you’ll reap the rewards later.