Classic Cars

Purchasing a classic car is an exciting time, but a dream purchase can quickly start to lose its charm if, after money is exchanged, mechanical problems and other issues quickly become apparent.

BPE's classic car expert can act for financiers, dealers and buyers of classic and prestigious motor vehicles, to help resolve any problems that arise and ensure that everyone is satisfied with the end result.


What is a Classic Car?

There is no fixed definition for a classic car in the UK.

However, DVLC describes all cars built before 1 January 1973 as "historic vehicles" , whilst the HMRC recognise Classic Cars as being over 15 years old and having a value in excess of £15,000.

Classic Car Front

Whatever your definition of a Classic Car it is likely to come with a history.

It's that history that makes the classic car interesting to a buyer and can potentially add significant value to the vehicle.

Not knowing the full history of a car can be risky, especially if the past affects the car's condition, originality or insurability.

Read more to find out the risks you should be aware of and how to avoid them.

 


Risks to the Buyer

All sorts of goods, including Classic Cars, are still regularly sold with just a verbal agreement and a handshake between the buyer and seller. Of course, this can lead to complications if something is then found to be wrong with the purchase after money has exchanged hands. What are the risks buyers should look out for?

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Litigation v Mediation

Litigation is the traditional method for dispute resolution but Mediation is an alternative course of action. Whichever route you decide, as litigation lawyers and trained Mediators, BPE can support you.

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Meet the Team

Philip Radford is a Partner in the Commercial Litigation team. For the last 40 years he has also been a classic car enthusiast and has owned and rebuilt many of these cars.

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Top Tips for Buying a Classic Car

Purchasing a classic car can be a big decision. Follow these top tips to ensure the process runs smoothly.

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