Modern Classic Cars

Spring is a time of new life, and so Katrina McAdams our HNW Motor Technical Underwriting Lead shares her thoughts on the new breed of classic cars that are emerging: 

"Now we have entered into spring and the sound of engines past are being heard rumbling from garages across the UK as they wake from their winter hibernation, the smell of petrol filling the air, for me some classic cars of today take on a much more recent memory. 

During my late teenage years evenings and weekends were spent at 'meets' along Southend sea front, public car parks or Max Power car shows. Escort RS Turbos, Vauxhall Novas and Golf GTis to name a few, all lined up with their engines revving, sub woofers vibrating from the boot and everyone gathering around to talk cars. For me this is where my journey in the world of cars and now motor insurance began. These once 'boy racer' cars of my teenage years are now becoming a collector's item in the world of classics.

I don't know about you, but many of us can relate to the Nissan Pulsar, Renault 5 turbos and the Ford Sierra Cosworth. These cars can't help but ignite memories of happy times where we all have a story or two to tell, whether that be your first car, your first teen crush of that cool uncle or older brother who thought himself a bit of a lad with his pepper pot alloys and a "you've been 'Nova' taken" window sticker. 

However for many of us these still feel like relatively new cars when in reality are actually anything from 20-30+ years in age...Feeling old yet?

Modern classics as they are commonly known are starting to fetch money in the classic car market with more and more people opting for classic cars when looking for a good investment on their money.

In 2015 classic cars raced past art, wine and diamonds to become the best performing collectable investment. There has been an average of a 15% increase each year since 2009. 

I thought these recent statistics might interest you. These are the guide prices of some 'Fair' to 'Concours' quality cars:

With many of these cars now having been stolen, thrashed or crashed the very few left in circulation even those in poor condition, are being snapped up with guide prices predicted to keep rising, these cars are the ones to watch. 

For me they will always hold a special place in my heart, whether it's the call of nostalgia or the opportunity to make a good investment these 1980s and 1990s icons are here to stay."

-Ends-