Are you running an early 2000s-registered motor into the ground without realising it soon could be worth far more than you think?
It could be a mistake made by plenty of Britons, according to new research, which has claimed that once a car is more than 18-years-old there is a nostalgia effect caused by owners who search for models they had in their past to collect and cherish.
That’s the belief of consumer car site Honest John Classics, which sourced Government data showing evidence that owners of vehicles over 19 years old start to plow money into restoring these modern classics – proved by a rise in MOT-test pass rates.
It means the cheap banger you might be using daily could be the apple of a collector’s eye, and its value might soon climb. Like these models featured in this list, which have been identified as ten to keep hold of if if you have one on the drive.
BMW 5-series E39 (1996-2003): Many consider the E39 5 Series the last of the mechanical luxury BMW saloons. The E60 that replaced it was jam-packed with electronics, many of which went wrong. In comparison, an E39 was easy to run, and plenty of some drivers are using them today. Big engine examples are obviously the most sought after
While most will argue that the relaunched Minis are not British due to their German ownership, they were – and still are – built in Oxford.
‘A lot of Mini owners are in their twenties,’ added Tanya.
‘These are the cars they grew up with as children, so it’s no surprise that they love them.’
And there are other examples of cars that are destined to become cherished collectibles in the not-too-distant future that you might consider unlikely bangers to bank.
Models such as the Rover 75, Jaguar XJ and Mazda MX-5 – all of which have dedicated owner’s clubs – all feature in the list of motors you might want to keep hold of.
Also listed are two MGs from the days of Rover ownership, the first-generation Ford Focus and the once cheap-and-cheerful Citroen Saxo – all of which could become goldmine motors, according to Honest John Classics.