Experts Say – Why Investing in Vintage Cars is a Bad Idea?
Everybody loves all things vintage, so it’s not surprising why people go weak in the knees when it comes to vintage cars. In India itself, hundreds of car enthusiasts are proud owners of vintage cars. Although many people tell you about the advantages of owning a vintage model, not many convey why investing in vintage cars is not such a good idea after all.
- The High Price of Maintenance
Vintage cars give out an old-school charm as almost all are manufactured decades ago. Even though maintenance cost is high, yet car collectors beg, borrow and steal to lay their hands on vintage cars. The rarer or older the car, the more difficult it is to find experienced mechanics, and original spare parts. Even car manufacturers or showrooms no longer manufacture or supply these parts, so it gets all the more difficult.
- A Causative Factor of Air Pollution
Vintage cars do seem to play their part in air pollution. As stated by many, these cars are mostly diesel-fueled vehicles that give out toxic emissions which adversely affect human health. The NGT (National Green Tribunal) had even banned the commuting of these vehicles on the roads, but the decision rolled back after facing opposition from these car owners.
- Lack of Passion to Maintain these Vehicles
Vintage cars are a priceless possession, but you cannot own possessions like these with money alone. You need to have the passion for preserving the historical importance of these vehicles too. Demanding work hours and the rising cost of living leave you with very little time to spare. Without enough passion and will, the vintage cars may take a backseat, in the long run, making you regret about your investment at a later stage.
- Special Permission to Drive These Cars
Owning a vintage car is one thing and attempting to drive these models on Indian roads is another. Owners of these vehicles need special permission from the higher authorities before driving these cars on the road. Apart from official permit, they also need to pay tolls and taxes.
- Consumes Humongous Amounts of Fuel
Vintage and classic cars drink up a lot of fuel and can even use up to one litre of fuel for every two kilometers travelled. This again raises the expenditure of owning such a vehicle. Running costs of these vehicles need to be kept in mind.
The acquisition cost of a vintage car comes into play too. Obtaining a proper loan for these cars is tough. Usually, these loans come with a high rate of interest, so investing in a vintage car means tackling the burden of acquisition cost, labour and parts. You also need to take into account insurance besides paying proper attention to its storage as well.
Considering all of these factors make collecting vintage cars an expensive and time consuming hobby. If you are not going to put in proper effort and time to maintain this vehicle and keep it in top, working condition at all times, investing in one is a bad idea.