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A classic car is an older motor vehicle; the exact definition varies around the world.
Here in the UK, the classic car range from veteran pre–First World War, to vintage dated from 1919 to 1930 and post-vintage 1930s.
There is no fixed definition of a classic car. Two taxation issues do impact however, leading to some people using them as cut-off dates.
Cars built before January 1, 1973, are exempted from paying the annual road tax and as such this is displayed on the license disc in the windscreen as a historic vehicle.
However if the car is built before this date and had been first registered in 1973 or later, then its build date would have to be verified by a recognised body such as British Motor Heritage Foundation to claim tax-free status.
Definition of a classic car for company taxation purposes, the vehicle has to be over 15 years old and having a value in excess of £15,000.
The elimination of depreciation is a reason for buying a classic car; this is a major cost of owning a modern car. Picking ‘future classics’ that are current ‘bangers’ is a pastime of people into classic cars in the UK.