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My 1967 Chevrolet Camaro failed its MoT - will it be road legal as of February 2018 anyway?

My 1967 Chevrolet Camaro failed its last MoT on having combined indicator and brake lights, i.e. red rather than amber indicators. From February 2018, cars that are 40 years or older are MoT exempt. Will this mean my car will be road legal?

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A vehicle might not need to pass an MoT test, but owners are still required to make sure their vehicles are roadworthy. This is a key part of your insurance - it is your responsibility to keep you vehicle roadworthy otherwise your policy will be invalid. If you are aware of issues with it that make it unroadworthy, you could be considered liable and your insurance invalidated.
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