The start of 2008 brought great pleasure for those closely watch the motoring industry - and especially those settle to nothing but a super car. First, through the internet and email I received a picture of a garden shed on wheels- with a clever fake press release heralding the launch of the new Daewood car. This looked quite funny.
Then, in India, Tata Motors launched the world's cheapest new car...the $2,500 Nano. Keen industry-watchers were amazed at the "breathtaking innovations in manufacturing technology in the global automobile industry based on severe cost-cutting". Others with conservative approach especially in USA described the car as "a golf cart crossed with a jelly bean."
But both events got me thinking - why will somebody buy new 'Eurobox car' when one has the option of fantastic classic vehicle? This comparison baffled my colleagues at Sureterm Direct - the UK's leading specialist classic car insurance company - along with them here I jogged 7 reasons to buy a classic car instead of a faceless, cheap, under-powered, Euro-shed muscle cars for sale.
1. Better insurance deals. The country's leading specialist classic car insurer says, the costs of insuring a classic MGB can be considerably less than cover for a new hot hatch and the difference can run to hundreds of pounds. Classic car insurance quotes can be very competitive.
2. Zero road tax. In the UK historic cars built before 1973 qualify for zero-rated road tax. You need to display a tax disk which cost nothing.
3. It makes financial sense. The moment you drive your cheap low quality car you lose 30% of its value straight away in depreciation and it no longer remains a new car. But if you invested in a classic car in good condition - and kept it smart - its value remains same and in some cases it might even increase.
4. Cheaper repair bills as it can get repaired anywhere any parts are easily available.
5. The classic cars are more environmentally-friendly. Buying and using a classic car is recycling par-excellence. Spare parts for older cars are readily-accessible, so keeping your classic running is very environmentally sound.
6. In a classic vehicle you are driving around in something that is instantly recognizable and draws attention.
7. Social networking. There are lots of classic car club and you can join the elite group. For example, there are events for VW Beetle owners almost every weekend.
