The youngtimer as a cheaper alternative for vintage car enthusiasts

Advantages

● The biggest advantage of the youngtimer is the purchase price. Everyone knows that for a vintage Jaguar you have to pay a considerable amount of money. But you can buy a 2003 Jaguar S-Type V6 Executive for just under 2,000 euros.

● If you buy a good youngtimer and maintain it properly, it can increase in value and eventually become a vintage car. Cars lose their value especially in the early years. Youngtimers between 15 and 25 years old retain their value better or even increase in value.

● Basically, you can save on your car insurance premium with a youngtimer. The premium is highest in the early years of your car. Often because your car is under 10 years old, you want to insure it all-risk because it’s worth it. Between 5-10 years, limited casco, or WA+ is sufficient and older than 10 years, WA insurance is enough because the value decreases rapidly after 10 years.

Here’s what to consider

● Especially with youngtimers, the value increases over the years. So isn’t all-risk insurance worth it after all? When buying your youngtimer it is wise to get an appraisal to determine the current value of the car. Standard car insurance often does not take into account a high daily value. So, if you choose a third-party or third-party+ insurance, then this should correspond to the appraisal value. For this you have special youngtimer insurances.

● If you purchase car insurance for a youngtimer, there are some additional requirements set by the insurer. For example, you may only drive a maximum number of miles per year. There is a minimum and maximum age of the car. In addition, the appraisal report must be valid and approved at all times. Also, you must have another car that you use for daily use.

Cons

● For vintage cars there is an exemption for road tax. For youngtimers, this exemption does not apply. So you pay the regular road tax.

● With a youngtimer, if you insure it as a youngtimer, you generally do not build up any claim-free years because the insurer assesses the car for hobby use. This means that you do not advance on the bonus-malus ladder if you have not driven any damage. As a result, your premium does not go down either. It can also be disadvantageous if it is your only car. Menno Dijcks, car insurance expert at Independer, does point out a handy advantage: “Fortunately, with most insurers your claim-free years can be kept for up to three years. When taking out youngtimer insurance, ask the insurer what the consequences are for your claim-free years.”

● A youngtimer is less safe than a new car. This is because youngtimers lack important, modern safety systems. Consider, for example, the ABS system. This has been mandatory in new cars since 2004, but chances are that your youngtimer lacks this important safety system. So be aware that driving a youngtimer makes you more vulnerable in the event of an accident, compared to a new car, which has all the modern gadgets.