PH car classifications

[funkyrobot]

I'm always reading about the different classes of cars on here (shed, snotter etc) and have been wondering how they are classed.

Is it a price thing? I.e. sheds are around £500, snotters under £100. Or is it due to the overall condition of the vehicle?

Barges seem to make sense. But their class isn't really defined by price.

Thanks.

[Contigo]

I see a snotter as something I can leave anywhere without any worry about dings, scrapes etc...