Buying a classic car on a budget
Discussion
I won't bore you with the a long back story; I'll summarize. I'm a massive car enthusiast. I'm at uni and moving house with my parents soon. The new driveway is massive and I've got the all clear to store a car. I've wanted a classic, or at least pretty old car for a while as a Sunday driver.
Advice needed:
Any advice would be appreciated
Advice needed:
- What would be the best pre-90s (or very early 90s if it was something interesting) car to get for the incredibly modest price of £500 or less that wouldn't need a complete overhaul?
- How bad is classic car insurance for a chap of 23 with 4 years NCB and an insurance policy running currently?
- How necessary is it to know about the inner workings of cars and how hard is it to learn?
Any advice would be appreciated
I was very much in your shoes a couple of years back so I may be able to offer some assistance.
I wouldn't say it is very important about knowing about the inner working of your car to begin with. We all start somewhere. I didn't really know anything about mechanics before I got my GT6 so everything I now know has been self taught or has been passed to me from older friends or from internet forums. If you choose a relatively popular car you will always be able to find the info you need. The best thing you can do is get a simple car, that way you will be able to pick up the basics quickly. Something like a Triumph TR7 or Herald can be had for around £500 ~ £1k. Parts are cheap in terms of classic cars and readily available. Alsom always make sure you get a car with a good body as fixing panels can get very expensive.
You should be fine with regards to the insurance. I currently pay £155 a year with a limit of 3000 miles for my GT6 (25yo with 3 years no claims on my main car). The best thing you can do is get a few quotes. I have used heritage and performance direct in the past:
http://www.heritage-quote.co.uk/
http://www.performancedirect.co.uk/
Get looking around at some cars you like and join up on some owners forums as that really is the best way to find out what the owners experience is going to be like.
Hope that helps
I wouldn't say it is very important about knowing about the inner working of your car to begin with. We all start somewhere. I didn't really know anything about mechanics before I got my GT6 so everything I now know has been self taught or has been passed to me from older friends or from internet forums. If you choose a relatively popular car you will always be able to find the info you need. The best thing you can do is get a simple car, that way you will be able to pick up the basics quickly. Something like a Triumph TR7 or Herald can be had for around £500 ~ £1k. Parts are cheap in terms of classic cars and readily available. Alsom always make sure you get a car with a good body as fixing panels can get very expensive.
You should be fine with regards to the insurance. I currently pay £155 a year with a limit of 3000 miles for my GT6 (25yo with 3 years no claims on my main car). The best thing you can do is get a few quotes. I have used heritage and performance direct in the past:
http://www.heritage-quote.co.uk/
http://www.performancedirect.co.uk/
Get looking around at some cars you like and join up on some owners forums as that really is the best way to find out what the owners experience is going to be like.
Hope that helps
I am in a similar situation as yourself, as a student with little money and limited mechanical knowledge. I found my previous car was a bit to grown up for me so I got a classic mini. I had done basic things like oil changes and brake pad changes before, but this mini was going to need a bit more work.
I am nearly finished with the project now and I have managed to replace all the shocks, replace a steering rack, replace all the brakes, replace the full exhaust (inc. manifolds), give it a good service,and I am currently swapping the rear subframe, the list goes on. I know these are some fairly modest achievements compared to some on this site, but i am pleased with myself for getting this far with very limited mechanical knowledge. As a bonus I am alot more confident with my mechanical skills and will shortly have a rather tasty little mini to show off!
If I were you I would look into a mini, they are one of the cheaper classic cars to own and maintain and there is a wealth of information on the net available for them, also I only pay 400 pounds to insure mine at 21, and that includes my 8 points and modifications! You might need to increase your budget a little bit, but not a massive amount I wouldn't have thought.
I am nearly finished with the project now and I have managed to replace all the shocks, replace a steering rack, replace all the brakes, replace the full exhaust (inc. manifolds), give it a good service,and I am currently swapping the rear subframe, the list goes on. I know these are some fairly modest achievements compared to some on this site, but i am pleased with myself for getting this far with very limited mechanical knowledge. As a bonus I am alot more confident with my mechanical skills and will shortly have a rather tasty little mini to show off!
If I were you I would look into a mini, they are one of the cheaper classic cars to own and maintain and there is a wealth of information on the net available for them, also I only pay 400 pounds to insure mine at 21, and that includes my 8 points and modifications! You might need to increase your budget a little bit, but not a massive amount I wouldn't have thought.
Snoggledog said:
MGB? Plenty of spares and a myriad of owners clubs all happy to offer assistance.
...and you'er going to need lots of spares for a £500 MGB!If you can push your budget closer to the £1000 mark you are in Mk1 Mazda MX5 territory:
http://www.pistonheads.com/sales/3250346.htm
http://www.pistonheads.com/sales/3250005.htm
Thank you guys.
The Mark 1 MX-5 has nearly been on my "cars owned" list about 4 times as a between cars car. The problem lies, in this particular instance, with the insurance. If it was my only car it would be fine but it isn't.
I also worry that I don't have any of the right tools. Sadly my Dad, although liking his cars, knows nothing about them and has nothing to do with them!
I wish I could afford an old Mini, I've heard they are great for learning.
The Mark 1 MX-5 has nearly been on my "cars owned" list about 4 times as a between cars car. The problem lies, in this particular instance, with the insurance. If it was my only car it would be fine but it isn't.
I also worry that I don't have any of the right tools. Sadly my Dad, although liking his cars, knows nothing about them and has nothing to do with them!
I wish I could afford an old Mini, I've heard they are great for learning.
Robbie B said:
Thank you guys.
The Mark 1 MX-5 has nearly been on my "cars owned" list about 4 times as a between cars car. The problem lies, in this particular instance, with the insurance. If it was my only car it would be fine but it isn't.
If it is your second car, you should be able to get it on a classic insurance policy.The Mark 1 MX-5 has nearly been on my "cars owned" list about 4 times as a between cars car. The problem lies, in this particular instance, with the insurance. If it was my only car it would be fine but it isn't.
Most likely need to be a proper UK car rather than an import Eunos.
What about these suggestions.
I'd suggest Golf GTI, but they are getting a bit more expensive now, so what about a VW Scirocco mk2, they did some with carb engines, so cheaper to insure.
Early Corrado 16v? - expensive for normal insurance, but I had my VR6 insured for less than £200 on a classic policy.
E30 3 series BMW, early one with a small engine?
E28 5 series, "now old skool cool"
Mercedes W123 or 190 again a bit retro and classic insurance on my 190 is £86 per year!
They all tend to be pretty good for reliability and are generally easy to work on.
When I was your age and in your shoes I bought a Clan Crusader and my brother bought a Midas Gold. Both had glass fibre monocoque construction and proprietary engines. They were easy to work on and cheap to insure on kit car policies through MSM. I think looking at something like that might be an interesting alternative although I would endorse the TR7/Herald/MX5 suggestions also.
what I would definitely say is, don't do nothing. You only get one go....
what I would definitely say is, don't do nothing. You only get one go....
Bit left field for a classic, but Peugeot 306 ... and even more left field a 1.9 TD !! I am 45, so doesn't seem much of a classic to me, but suppose everything is relative...
Ok, ny reasons are .. it's an old school smoky diesel, should be ok for insurance, do 45mpg etc ... also cheap to buy (I just had a quick look on Ebay).
If you have never driven one, have a go. Very quick, and great handling. Also easy for DIY maintenance and learning. With a £500 budget I think you will struggle to find an old classic. The Mercedes is a great value classic, but not sure if the insurance will be expensive.
Ok, ny reasons are .. it's an old school smoky diesel, should be ok for insurance, do 45mpg etc ... also cheap to buy (I just had a quick look on Ebay).
If you have never driven one, have a go. Very quick, and great handling. Also easy for DIY maintenance and learning. With a £500 budget I think you will struggle to find an old classic. The Mercedes is a great value classic, but not sure if the insurance will be expensive.
I'm trying to think everything through as level-headed as possible.
The reason for the £500 budget is because I would need to tax/MOT there vehicle at some point and that will dip in to my funds again. I want something quite fun and it can't be too unreliable as I'm way too inexperienced mechanically to fix it. I want something for a bit of fun at the weekends, some learning and general enjoyment.
Insurance is an issue, yes. My problem at the moment is not knowing what is going to explode on arrival and what will hold out.
I've been looking at E30 BMWs (love them, always have), MK 1 MX5s and MK 1 & MK 2 Golfs.
I really want to do this but I'm just not sure if I'm going to end up with a money sink.
The reason for the £500 budget is because I would need to tax/MOT there vehicle at some point and that will dip in to my funds again. I want something quite fun and it can't be too unreliable as I'm way too inexperienced mechanically to fix it. I want something for a bit of fun at the weekends, some learning and general enjoyment.
Insurance is an issue, yes. My problem at the moment is not knowing what is going to explode on arrival and what will hold out.
I've been looking at E30 BMWs (love them, always have), MK 1 MX5s and MK 1 & MK 2 Golfs.
I really want to do this but I'm just not sure if I'm going to end up with a money sink.
For £500 my money would be on a Mk1 Golf, either a GTI or basic hatch or cabrio (if you want the open top motoring).
I have owned a Mk1 Cabrio for years now and put over 100K miles on it with very little outlay or problems. They are very reliable cars, easy to work on (and to learn to work on) and parts prices are relatively cheap. Plus they are great fun to drive. Classic insurance should be accessible for you, even in a late cabrio model.
£500 would get you a relatively run down GTI or slightly better cabrio. If you were lucky you might actually find a basic or even a 4 door model. Years ago I had a mk1 driver which had GTI looks and handling with a better on the pocket 1.3 engine. Finding one of these would be a really good catch. The more basic cars are much more rare these days and still have a cult following in the same way that the GTI or cabrio do. So when the time comes to sell you should not have lost any money and any work you have done would add value.
Going for a mini or anything traditionally classic would not get you much of a car for £500 unless you are lucky and find an unwary seller.
Cheers
Paul.
I have owned a Mk1 Cabrio for years now and put over 100K miles on it with very little outlay or problems. They are very reliable cars, easy to work on (and to learn to work on) and parts prices are relatively cheap. Plus they are great fun to drive. Classic insurance should be accessible for you, even in a late cabrio model.
£500 would get you a relatively run down GTI or slightly better cabrio. If you were lucky you might actually find a basic or even a 4 door model. Years ago I had a mk1 driver which had GTI looks and handling with a better on the pocket 1.3 engine. Finding one of these would be a really good catch. The more basic cars are much more rare these days and still have a cult following in the same way that the GTI or cabrio do. So when the time comes to sell you should not have lost any money and any work you have done would add value.
Going for a mini or anything traditionally classic would not get you much of a car for £500 unless you are lucky and find an unwary seller.
Cheers
Paul.
Edited by jpa on Saturday 8th October 16:01
Legacywr said:
I don't think that there is anything that would be worth buying with your budget! Sorry 
Also, I think that you will need to be at least 25 before you will be able to get a classic insurance policy!
Not true at all, I was 20 when I got insured on my Spitfire (very cheaply might I add), all you need is to join a car club in most cases.Also, I think that you will need to be at least 25 before you will be able to get a classic insurance policy!
1. Insure with Lancaster - I'm 22 and my Stag costs me £190 per year to insure MGB GT V8 is around £170.
2. You don't need a modern car in your life so if you have one and you really want a classic sell the boremobile
3. You can buy tools as and when you need them. A good socket set (imperial), spanner set, screwdriver set, a multi-meter, spark testers, feeler guage, oil filter wrench will certainly get you started. Tools aren't too expensive - the sort of thing you can ask for your birthday / Christmas, maybe?
4. A repair workshop manual is essential for the car you buy. These are easy to obtain either in original "dealer" format or of the "Haynes" variety.
5. Old cars are more reliable the more they are used in my opinion.
MGB GT V8 is around £170.2. You don't need a modern car in your life so if you have one and you really want a classic sell the boremobile
3. You can buy tools as and when you need them. A good socket set (imperial), spanner set, screwdriver set, a multi-meter, spark testers, feeler guage, oil filter wrench will certainly get you started. Tools aren't too expensive - the sort of thing you can ask for your birthday / Christmas, maybe?
4. A repair workshop manual is essential for the car you buy. These are easy to obtain either in original "dealer" format or of the "Haynes" variety.
5. Old cars are more reliable the more they are used in my opinion.
V8Triumph said:
3. You can buy tools as and when you need them. A good socket set (imperial), spanner set, screwdriver set, a multi-meter, spark testers, feeler guage, oil filter wrench will certainly get you started. Tools aren't too expensive - the sort of thing you can ask for your birthday / Christmas, maybe?
What would you suggest is a decent budget for these starter tools?Is it best to buy top of the range items or cheap versions?
I would start with something simple and not too old like a 1960's Herald or Spitfire which will not cost a lot gives fair performance and are simple to maintain. Do please attend to getting the best tyres you can on these and try to find one which is a later model with the better rear suspension or get the rear end modified on purchase.
They are not cars to try fast cornering in, but used sensibly are excellent and cheap. A decent Herald can be found for less than £1000. And will run at 32+ MPG.
Do avoid ANY cars with major body rot.
This is an area to leave alone until you have more experience. Find a solid well maintained body in your purchase.
Mechanics as others have said can be quickly learnt. Many local colleges do Car Maintenance and are really worhwile courses.
The reliability of older cars can be improved with sensible upgrades.
Modern shock absorbers are vastly better than the old lever arm types.
Modern ignition systems are infinitely better for starting, performance, mpg and reliability. This is a really worthwhile improvement.
Modern oil filters and air filters are much better and modern oils are really in a different league from the old straight 30 SAE etc, I find the viscosity additives very effective with the old Mini A series set up.
I run four and every one has been better on the long chained additives.
There are the questions of affecting originality and integrity but these minor changes markedly improve reliability and mpg without any problems for me.
They are not cars to try fast cornering in, but used sensibly are excellent and cheap. A decent Herald can be found for less than £1000. And will run at 32+ MPG.
Do avoid ANY cars with major body rot.
This is an area to leave alone until you have more experience. Find a solid well maintained body in your purchase.
Mechanics as others have said can be quickly learnt. Many local colleges do Car Maintenance and are really worhwile courses.
The reliability of older cars can be improved with sensible upgrades.
Modern shock absorbers are vastly better than the old lever arm types.
Modern ignition systems are infinitely better for starting, performance, mpg and reliability. This is a really worthwhile improvement.
Modern oil filters and air filters are much better and modern oils are really in a different league from the old straight 30 SAE etc, I find the viscosity additives very effective with the old Mini A series set up.
I run four and every one has been better on the long chained additives.
There are the questions of affecting originality and integrity but these minor changes markedly improve reliability and mpg without any problems for me.
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