CLASSIC CAR

Classic car is a term frequently used to describe an older car, but the exact meaning is subject to differences in opinion. Some are very inclusive, considering any older car in fine condition a classic. Others, including the "Concours d'Elegance" and the Classic Car Club of America maintain that 1948 is the last year for the true classics.

There is no fixed definition of a Classic car. Two taxation issues do impact however, leading to some people using them as cutoff dates. All cars built before 1 January 1973 are exempted from paying the annual road tax vehicle excise duty - this is then entered on the license disc displayed on the windscreen as "historic vehicle" (if a car built before this date has been first registered in 1973 or later, then its build date would have to be verified by a recognized body such as British Motor Heritage Foundation to claim tax free status). The government Revenue and Customs define a classic car for company taxation purposes as being over 15 years old and having a value in excess of £15,000.

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Another division of classic cars is Modern Classics. These vehicles are generally older, anywhere from 15-25 years, but are not accepted as classics according to The Antique Automobile Club of America. These cars are rather enjoyed as classics by auto enthusiasts, and are generally rare, and out of production.