By Classic Yorkshire contributor Tony Lofthouse
Did you know? Nice things happen to cars reaching 40 years old.
They officially become ‘historic’ and owners no longer have to pay road tax and MOT them.
These classics also become more valuable and can enjoy some heady and unexpected values.
In the 80s Fords like the Escort XR3i and Sierra XR4i and cars with a GTI badge were built and sold in their thousands to younger drivers who could afford them. It’s fair to say that in a few years many were either scrapped, thrashed, smashed or stolen.
Forty years on, if you have a good condition ‘fast ford’ or German equivalent stored away you are looking at a fast appreciating investment.
Even mass-produced Toyotas are seeing prices go north! The lively Toyota Corolla GT AE86 attracted spirited young drivers in the 80s prepared to pay £8,800 new only to see prices tumble. Today, if you can find one expect to pay double as historic status beckons.
High-end cars like the Porsche 944 or Jaguar XJS also nose-dived in value in the 90s but these are seeing a resurgence in prices.
Back in the 80s, the ‘Yuppie’ years got a bad press but 40 years on some canny owners are now sitting on ‘upwardly-mobile’ values.
So does a 1993 tvr chimera qualify for this tax relief and how do you claim it?
Lovely car Roy. For more on applying see this link:
https://www.fbhvc.co.uk/mot-exemption-information#:~:text=You%20can%20tax%20your%20vehicle,in%20the%20DVLA%20leaflet%20INF34.