Selling your classic car? It's FREE to list your car on Honest John Classics | No thanks

More Classic Car Investors Could Mean Higher Prices

Published 07 April 2015

Glass's Guide has predicted that changes to pension rules that came into effect on Monday could lead to more retired people indulging and investing in popular classic cars.

With hundreds of thousands of older people expected to draw a tax-free lump sum from their pension pot, some of this money will inevitably be spent on cars.

That way, they can have their cake and eat it. The fact is that over the past 5 years, the right classic cars have proven to be far better investments than stocks, shares, bonds, ISAS, even property. So, as well giving themselves something to do that they enjoy, pensioners can also build up their nest eggs.

The lovely 1960 MGA 1600 roadster in the photo sold for £17,360 at Historics Brooklands auction in March, against a top estimate of £16,000.

With TV exposure such as Quentin Willson's Classic Car Show bigging up prices for the right classics and interest rates remaining low, as QW says, "classic car prices have only one way to go."

And with a fantastic UK club scene, pensioners who don't fancy spending all of their retirement in their gardens can get out and about to events almost every weekend while their investment appreciates around them.

Rob Donaldson, Glass's Guide Car Editor, said: "There is really no precedent for this, so it is difficult to forecast the exact effect that it will have on the new and used car sector, but it seems likely that a proportion of older people will use the new rules to treat themselves."

The best ways to apreciate where money is best spent is to watch the Classic Car Show avidly for Quentin's tips. 

And to consult Classic Car Price

Comments

Add a comment

 

Ask Honest John