It all started with a copy of The AA Book of The Car and then I dismantled my first engine at age 9. A lifelong love of cars has followed, and I have owned quite a few; Mk 1 Escort, Minis, an Alfasud, five Subaru Imprezas, and an Evo VIII MR are some of the good ones. But the one that sticks in my mind was a two-year-old Nissan R35 GTR I bought in 2012 for £45k. I took it to tracks all around the UK as well as several trips to the Nurburgring and Spa. Fun times! But what was an eye-opener to me was selling it four years later for £41,500 – to a dealer. I had no idea that a modern car could be almost depreciation free. So, I became an avid watcher of the classic and modern classic market – I bring all of this to the Bidding Classics – to list the right appreciating classics for your collection.
I have said it before and I will say it again. Look to tax policy to see where cars are going – it has a huge effect on buying behaviour.
Take electric cars – they have a company car tax rate of just 2%. So there are lots and lots of electric company cars on the roads. That tax rate increases to 37% for the most polluting cars, so you pay almost 1/20th of the tax for an electric car. It is no surprise that a contrast like that changes people’s buying behaviour!
And I am a big proponent of the 40 year rule for classic cars. Buy a car from 1983 or earlier and you:
That is a big bunch of benefits to encourage you to keep an older car running on the roads. And there is a wide variety of cars to choose from 1983 to keep most people happy.
But if you think we have it bad, spare a thought for Singapore. You can’t just go and buy a car there.
First you have to bid on a dreadfully named ‘Certificate of Entitlement’.
These come in various classes, the chepest of which currently costs £62,000 for a car up to 1,600cc. An unlimited certificate costs an incredible £91,000.
Once you have the correct certificate you are then able to buy or import a car. But it doesn’t end there. The certificate isn’t open ended, it only lasts 10 years.
After that you have to start all over again and buy a new certificate.
Wow, I don’t imagine there would be 30 million cars registered in the UK if we had to pay £6,200 per year to own one. Having said that . . .
The recent London ULEZ expansion is causing people a lot of problems. £12.50 per day may not seem much but 250 x £12.50 costs £3,125 per year and 365 x £12.50 is £4,562 per year. Not a million miles away from the £6,200 per year in Singapore. This tax policy is going to have a huge effect on voter behaviour in future elections.
If you want to avoid all of this, buy a pre 1983 car. Like our:
1967 Austin Mini Countryman or
1980 Citroen Acadiane van