Owning and driving a Classic Car is of particular
benefit for Ireland as you can avail of the following exclusions if
your car is over 30 years old:
No VRT duty on imports
Only £29 Road Tax
Cheap Insurance
Exempt from compulsory NCT test!
Classic Cars retain their
value
No VRT duty on imports
VRT is the tax that you pay when you import a
car into Ireland. This is an extra 20% of the current market
value (not neccessarily the price you paid for it) of a car with an engine volume up to 1.3 litres, 25% of the market value on cars from 1.3 to 2.0 litres, and
30% of the market value of a car with an engine volume
over 2.0 litres. The VRT office determines the actual VRT levy, which
CANNOT be challenged.
As you can imagine this will mean a substantial
increase in the purchase price of any car imported from abroad!
However, if the car is older than 30 years (i.e younger than 1971)
there is NO VRT charged, but only a small registration fee of
40 pounds. This suddenly makes importing a Classic Car a great way to
find a good deal, and this is why we at Classic Cars Ireland tend to
mainly focus on cars that are 30 years and older.
If you think that perhaps there won't be any
interesting cars of that age, have a look at our "Showroom" and think
again!!
Only £27 Road Tax
If your car has an engine volume of 3.8 litres, this
would set you back nearly £900 in Road Tax a year. However, if
your car is 30 years or older, you would only have to pay
£29, whether your engine volume is only 1 litre or 6.7
litres.
The choice is yours!
Cheap Insurance
There are a number of Insurance companies in Ireland
that offer reduced rates for Classic Cars on limited mileages. This
would make sense, as Classic Car owners are known to really care for
their car, and the car would almost certainly be used much less than
the regular Vectra's and Mondeo's.At present, there are only two
insurance companies offering Classic Car policies, but as popularity
grows, Insurance companies should soon realise the developing market
potential and more policies will become available in the near
future.
Exempt from compulsory NCT test
In January 2000, the
long awaited (and dreaded) compulsory testing of every vehicle older
than 3 years will come into effect. This procedure is already
commonplace in all other European countries, but Ireland has been
able to ward of this type of compulsory testing, year after year.
Designed to make the roads safer, it will have great impact on the
standard of the cars on the road. It will however mean greater costs
for owners of older cars. The biggest benefit for Classic Car Owners
is, that if your car is older than 30 years, it will be exempt from
the compulsory testing scheme. Another benefit for classic cars that
are over 30 years old.
This doesn't mean however, that any old car will do,
as we firmly believe that NO car should be passed on to you as a
potential buyer, if it is not strictly Safe and Roadworthy! We will
make sure of that, before we buy it.
Classic Cars retain their value
When you buy a new car,
the moment you drive it out of the Showroom, you will have lost
thousands of pound off the value of the car. Not a nice thought, when
you are supposed to be happy about the purchase of your new car.It's
a different story with Classic Cars.In the late eighties, Classic
Cars were being seen as investment schemes, and as a result of that
prices went absolutely crazy. Since then, prices have come tumbling
down and a lot of people lost a lot of their investments.
Prices have been steady now, over the last couple of
years, and are not expected to fall any further. This means that if
you care for your Classic Car, and keep it in good condition
throughout, you will certainly NOT loose any money on it. Some
dealership even offer a 1 or 3 year guaranteed Exchange price, which
means that when you exchange your car within that period, you will
get the same amount back that you paid for the car in the first
place.
Now where can you get a deal like that in a mainstream car dealership? |