Car insurance news
Motorists who form part of Guernsey’s Old Car Club are calling for changes to be made to car tax rules on the island. At present classic cars in Guernsey are taxed just as newer cars, unlike in the UK where cars built pre-1973 are exempt.
The legislation on car tax in Guernsey is currently being reviewed, and classic car drivers are taking this opportunity to call for classic cars to be made exempt from tax, mirroring UK laws. Members of the Guernsey Old Car Club state that their cars are part of the heritage of the island and are a moving display of history.
Besides the issue of private car tax, classic cars can be a sensible financial choice in the UK because even though garage costs are higher and parts often cost more than for newer cars, the value of older cars does not depreciate and if kept in good condition, a car will be worth exactly the same 5 years after it was bought.
Classic cars in the UK qualify for company car tax rates based upon how much the vehicle cost new, which pre-1973 was much less than nowadays. Classic cars also often qualify for cheap car insurance because they are less likely to be targeted by thieves and owners tend to be more careful.