The real value of Classic Cars

As anyone can imagine, classic vehicles are and will always be the greatest objects of desire for collectors. This is mainly due to the fact that they offer a privileged view to the automotive industry ofother times in vehicles that are no longer manufactured today.

Year after year thousands of people make the decision to get rid of their classic vehicles for different reasons, but above all it usually happens because they no longer have the ability to circulate correctlyor are no longer repairable. Over time, the value of many classic models increases, as can happen for example with the works of an artist or a good wine.

Note, however, that there is no concrete and exact definition for "classic vehicles". For this reason, cars with different antiques are treated differently by the authorities in terms of technical inspections, taxesand other related issues.

Tax exemptions for classic cars

Let's start with the basics: in the UK, vehicles are treated differently when it comes to determining whether or not they have to pass a technical inspection and whether or not you are required to payroad tax, based on the age of the car.

If you are the owner of a car with more than 40 years under your belt and you have not made excessive modifications to it in the last 30 years, you will be exempt from the MOT test.

You should also know that cars over 40 years old are exempt from paying vehicle tax. However, keep inmind that you must request this exemption from the authorities so that they place you in the so-called “historical tax class”.

It is important for you to know that historic cars must be kept in perfect condition for road use. It is true that they are exempt from passing the ITV tests, but this does not exempt the owner from keeping them fit for public roads, with penalties that can in some cases reach £ 2,500.

Classic car parts and repairs

You should know that even a classic vehicle unable to circulate may have some value to collectors if itis sold as "parts and repairs". This happens because there are usually enthusiasts of these cars interested in renovating their car with original parts of the same make and model, especially if the year of manufacture also coincides.

The excessive dismantling and accumulation of classic vehicle parts in garages, basements or private gardens has certain damages for the environment. If this is your case and you are dismantling a historiccar to recover its parts, from here we advise you to carry out these tasks in a safe place and store theparts in a safe place, avoiding risks to the environment and theft as much as possible. Sell the parts that you will not need as soon as possible, this way you will save space, improve your security and obtain funds that you can later reinvest in your favorite hobby.

Removal of historic vehicles

Whether you have used parts from a historic car or you intend to fully recycle a vehicle, ideally you should contact a reputable scrap yard specialized in classic vehicles in your area.

Obviously no one wants to dispose of their historic vehicle unnecessarily, but it may be the case that the end of its natural life comes and it is impossible to repair it. In a situation like that, it is better to getsome value for your parts and at the same time recycle any pollutants that can get into the environment, such as motor oil or battery. 

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