Classic Car Investments

With the economic downturn in the minds of almost everyone within the UK, finding a reliable and suitable investment seems a hazardous task, with interest rates slashed to record lows, and the share prices of companies slumped due to low confidence and decreasing profits. It does not just stop there, the property market has been severely hit too, with those who believed the property market was as sure as bricks for investment now coming to realise their investment may have been built on quick sand. The investment of successful and wealthy people has changed in recent years, with many deciding to invest in high quality wines, paintings and sculptures. Another investment which may be on the up is that of iconic classic cars.

Enjoying the drive of an iconic classic car is only part of the perk from investing in a classic, with established and iconic brands having much sort after heritage as the modern car market becomes more technology advanced. This strong heritage results in many classics holding onto value, a sound investment which can also be enjoyed and showed off.

Antiques, wines and classic cars may also provide great tax break opportunities. Interest in art has increased, with returns on investments often proving more profitable than property. Owning a classic car also allows for exemption from road tax, if the car was constructed before the 1st of January 1973. Visit the government web site for further information regarding this. It is clear why classics have been on the up for investment purposes, with everyone watching their outgoings; most people would welcome guarding their cash from the tax man.

According to Zurichs iconic car index, the Ferrari Enzo is the most sought after modern classic, topping the charts for brand heritage, status and performance. For those who cannot afford the high price of the modern Ferrari, there are many cheaper classic cars which may prove a wise investment for reserving capital, whilst enjoying the appeal of an iconic classic. An example of a more affordable classic car is the Triumph Stag, which can be purchased for under £5,000. As with any classic car, it is important to find out about support for owners of a particular make, and how easy parts are to obtain. The Triumph Stag is great for both these aspects, with the car well supported by enthusiasts clubs, and many established owners.