Classic Cars

Classic Cars Information

In the UK, classic cars vary in terminology depending on the era they were built in. Veteran classed cars have to be built before the First World War. Vintage Cars were built between 1919-1930, and Post Vintage cars were built during the 1930's.

In the UK there is no real definition for a classic car. However, there are two taxation related issues that lead people to believe there to be certain dates of when a car can be determined as a classic car. The first is, all cars built before January 1st 1973, these cars as exempt from paying road tax, instead of the usual tax disc they will display 'historic vehicle' The other is HM Revenue & Customs as they define a classic car a car that is over 15 years old and has a value of £15,000 or more. This terminology is used for the purpose of defining company taxation. Classis cars status is all subject to matter and opinion.

The reason why many people by classic cars is to avoid and depreciation in value and are more thought of as investments for the future. The flip side of the coin is that classic cars can be expensive to maintain and run as parts can be hard to get hold of, the technology and parts may also not be not as well built as some more modern cars.

The current record paid for a classic car was set in August 2011. $16,390,000 was paid for a 1957 Ferrari 250 Testa Rossa.

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