Dubai, UAE, 18 September 2024: While the UAE’s roads are awash with brand-new cars, a longstanding niche market for more vintage vehicles exists in parallel. A stroll through City Walk in the cooler months, or a drive through the mountains, could well mean passing a caravan of original Minis, classic Jaguar E-types and unique BMW Isettas as owners show off their pride and joy. But is owning a vintage vehicle the same as owning the latest Mercedes, or are there particular factors of which UAE enthusiasts should be aware when buying, driving, storing and maintaining a classic car?
Making the purchase
While choosing a new vehicle can be as simple as visiting the showrooms and picking a colour and trim, choosing a classic car requires considerably more research to ensure a wise investment, with many factors affecting both the value of the car and the cost of upkeep.
Buyers who simply want to enjoy driving the car may not place such importance on issues such as mileage or wear and tear, whereas those buying a classic car as an investment for the future must expect to spend more on a model in good condition – or more on initial restoration – and more on continued maintenance to ensure it remains in tip-top condition. It must also be remembered that such maintenance is likely to be higher for a vintage vehicle than a new model, as specific parts and expertise are often needed.
The car’s condition and history are crucial factors. Original, complete service and maintenance records will always add to a vehicle’s value – as will confirmation of original key parts – whereas modifications can sometimes detract, while buyers must also consider how much time and effort they are prepared to invest in restoration. Having the car inspected by an appraiser specialising in classic cars can uncover potential issues that may not be evident to the novice eye.
Buyers making their purchase as an investment would do well to consider rarity and demand, with limited-edition models or cars with historical significance typically appreciating in value. A thorough study of recent sales and price trends will ensure buyers are fully apprised before completing a sale.
Joining the community
Many classic car enthusiasts cite being a member of a club as one of the most rewarding aspects of ownership. Engaging with such clubs, whether in person or online, can enable access to insights, advice and recommendations, and of course the enjoyment of shared passion for vintage vehicles.
Such clubs often host events including car shows, cruises and meet-ups, giving owners the opportunity to share experiences, socialise, display their cars and admire each other’s models. The collective experience of longstanding club members can often be of great use to new or less-experienced enthusiasts, and workshops or seminars organised by clubs can help members learn and improve their knowledge. A wide network of members can also be invaluable when sourcing hard-to-find parts or service skills.
Classic car enthusiasts may find their particular marque has its own classic car club in the UAE, such as Porsche or BMW, while non-brand-specific clubs such as the Abu Dhabi Classic Car Club (ADC3), which is affiliated with the UAE Automobile Club, are open to owners of all marques.
Caring for your classic car
As with many other elements of classic cars in comparison to modern models, diligent care and attention must be paid to storage and maintenance, particularly in the UAE’s often hot, humid climate.
A climate-controlled garage will protect from extreme temperatures, excessive humidity and bright sunlight, all of which can have a detrimental effect on paint, interior and mechanical components. Even in such a garage, a breathable car cover should be used to protect the car from dust and potential scratches.
Whether the car is driven often or not, it should be regularly inspected for any signs of wear and tear, with particular attention paid to critical components such as engine, brakes and suspension. When repairs are needed, preference should be given to original parts, to maintain authenticity.
Repairs and servicing should be carried out by mechanics who specialise in classic cars, understand the particular considerations involved and have the knowledge and experience to cater to such cars’ unique needs.
Protecting your classic car asset
Unsurprisingly, standard car insurance is not suitable for classic cars. Sameh Hafez, Head of Private Clients at GIG Gulf, has advice for owners. “Most insurers in the UAE will not offer comprehensive cover for cars over 10 years old, but regardless, standard cover would not be suitable for classic cars; there is a clear distinction between a car that is simply old and a classic car, a differentiation that will always be made by a specialist insurer,” he says. “In simple terms, a classic car is likely to appreciate in value, whereas an old car will continue to depreciate.”
Such an insurer will understand and appreciate the need to insure for market value, Hafez continues, and will waive the depreciation throughout the policy period.
Furthermore, Hafez explains, a specialist insurer will also offer other cover elements that meet requirements specific to classic cars. “Insurers who specialise in insuring classic cars will understand the need to repair and service the vehicle at specialist garages or an authorised dealer, as well as the crucially important ‘loss in value’ cover, where the insured will be compensated should the classic car lose value after an accident.”
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