There's something timeless about classic cars that still turns heads in 2025. Perhaps it's the roar of a vintage V8, the styling you rarely see on modern roads, or simply the thrill of owning a piece of automotive history. Whether you're drawn to a 1963 Corvette Grand Sport, a 1967 Corvette convertible, or a '65 Shelby Cobra 427, you're in good company.

The market for classic cars remains robust. In 2024, industry research estimated the global classic car sector's value at around $39.7 billion, with continued growth anticipated.

Driving a classic is a different experience from today's tech-heavy vehicles. Instead of touchscreens and driver-assist features, you get raw mechanics, distinctive craftsmanship, and, in some cases, the potential for long-term value appreciation. That said, owning one comes with challenges modern cars rarely face: sourcing parts, specialized maintenance, and ongoing upkeep are all part of the commitment.

Before taking the plunge, it's worth weighing both the potential rewards and the responsibilities of classic car ownership.

The Pros and Cons of Owning a Classic Car

The Major Advantages

Investment Potential That Varies by Model

Unlike most new cars that depreciate right away, certain classic models can appreciate over time. This is especially true when they're well-maintained, properly documented, and chosen with care. Market data shows that some high-end classics have even outperformed traditional investments during strong years, though that momentum softened in 2024. Rare, historically significant, and well-preserved vehicles tend to hold their value best, while more common models may only keep pace with inflation.

Examples of strong performers include:

• Classic Porsche 911 models: Known for long-term collector demand and steady appreciation
• Late-1960s Chevrolet Corvettes: Consistently sought after among American performance classics

Documentation and originality continue to play a major role. Cars with complete ownership histories, matching-numbers components, and factory-correct details typically earn higher valuations. Still, even appreciating classics comes with ongoing maintenance costs.

It's best to view them as passion projects with potential upside, not guaranteed investments.

Surprisingly Affordable Insurance

Many classic car owners pay far less for insurance than they would for a modern daily driver. Policies typically range from $200 to $600 per year, often up to 40% cheaper than standard auto insurance coverage. However, insurers usually impose restrictions such as limited mileage (typically 1,000–5,000 miles annually), enclosed storage, and use only for pleasure driving or events.

The lower rates reflect reduced risk. These cars aren't driven daily, are well-maintained, and are usually stored securely.

A Driving Experience You Can't Replicate

Classic cars offer something that modern vehicles rarely do: a raw mechanical feel, a distinctive sound, and genuine driver engagement. No computers, no driving assists, just pure connection to the road. Each era has its own character, from the exhaust note of a '60s V8 to the design cues unique to the time. Owning one feels less like transportation and more like interacting with history.

Access to a Passionate Community

Classic car ownership opens doors to a tight-knit enthusiast culture. Car shows, clubs, local drives, and online forums offer support, technical knowledge, access to rare parts, and a shared passion for the craft. It's a hobby that often comes with a built-in social network.

Easier to Work On (for Those Who Enjoy It)

Older cars have simpler mechanical systems. You can see how things work, including carburetors, distributors, and linkages, without needing expensive diagnostic tools. Most maintenance can be performed with basic tools, and parts for popular models, such as Mustangs and Camaros, are still widely available.

If you enjoy tinkering, maintaining a classic can be satisfying and cost-effective.

The Significant Challenges

Safety: The Most Important Issue

Safety is not a minor concern when it comes to classic cars. The gap between vintage and modern vehicles is significant, and in some cases, it can be life-threatening.

Crash data from a peer-reviewed study (2012–2019) found that vehicles built before 1970 were involved in less than 1% of accidents. Still, they carried a 6.7 times higher fatality risk in vehicle-to-vehicle crashes and a 9.5 times higher risk in rollovers. Factors such as limited seatbelt use, alcohol consumption, and the absence of modern safety systems significantly contributed to these outcomes.

According to the NHTSA, a 2012 model had a 56% lower fatality risk compared to vehicles from the late 1950s. Between 1960 and 2012, advancements in safety technology are estimated to have saved over 600,000 lives.

NHTSA reports that the average 2012 vehicle had a 56% lower fatality risk compared to vehicles from the late 1950s. Between 1960 and 2012, vehicle safety developments collectively helped save over 600,000 lives.

Most classics were built before key safety features existed, including:

• Airbags (not mandatory until 1998)
• Three-point seat belts (became common in the late '60s–early '70s)
• Electronic stability control (required since 2011)
• Anti-lock brakes, traction control, and effective crumple zones
• Backup cameras and modern crash engineering

If you plan to drive with passengers, especially children, this alone might outweigh every advantage.

The Real Cost of Ownership

Buying the car is just the start.

• Annual maintenance: typically $500–$3,000, depending on condition
• Parts: hard to find and often expensive (some need importing or custom fabrication)
• Specialized labor: modern mechanics often won't touch vintage systems; you'll need an expert familiar with the era
• Fuel efficiency: older V8s often return low-teens to low-20s MPG

A good mechanic relationship is critical. These cars require more time, attention, and money than most buyers expect.

Environmental Impact

Classic cars have a far larger emissions footprint.

EPA data shows that early 1970s vehicles emitted approximately:

• 13 g/mi hydrocarbons
• 3.6 g/mi nitrogen oxides
• 87 g/mi carbon monoxide

Today's emissions standards have reduced this by over 99%, and average fuel efficiency has roughly doubled since the mid-'70s (then around 12.9 MPG).

If sustainability matters to you, this is a serious drawback.

Lack of Modern Comforts

Classic cars feel raw, but that can also mean uncomfortable.

Common limitations include:

• Weak or missing A/C
• No power steering or power brakes
• No cruise control, navigation, Bluetooth, or USB ports
• Manual windows and locks
• Basic suspension and minimal sound insulation

They're thrilling to drive, but not ideal for long trips, daily commuting, or extreme weather. Most owners keep a modern vehicle for everyday use.

Storage Requirements

Proper storage is essential, not optional.

What most insurers require:

• Fully enclosed, locked building
• Solid roofing and walls
• Concrete or sealed floor
• Adequate ventilation
• Protection from moisture and rodents

Storage costs vary widely. Peer-to-peer garages can be about 50% cheaper than commercial facilities, but you'll still need a secure indoor space. And if it displaces your current garage occupant, that adds to the total cost.

Reliability Concerns

Driving a classic every day sounds appealing, but it's rarely practical.

Common issues include:

• Fuel pump failures
• Electrical glitches
• Cooling problems and overheating
• Hard starting in extreme weather
• Carburetor issues (runs rough until warmed up)

Even minor repairs can turn into lengthy projects involving part sourcing, shipping delays, and custom fabrication.

For most owners, classic cars are weekend vehicles, not dependable daily drivers.

Is Classic Car Ownership Right for You?

Let's be honest. Owning a classic car isn't just about buying a vehicle. It's adopting a lifestyle. It fits best when your motivation goes beyond convenience or quick financial gain.

You're likely a good fit if you:

• Understand that ownership requires ongoing time and money
• Already have a dependable daily driver
• Have secure, indoor storage available
• Enjoy hands-on maintenance, or don't mind learning
• Want to be part of a community: shows, meets, clubs
• Appreciate automotive history more than modern comfort
• Can afford both the purchase and the long-term upkeep

You may want to reconsider if you:

• Need a daily-use vehicle
• Are working with a tight budget
• Don't have appropriate storage space
• Prioritize environmental impact
• Expect fast or guaranteed investment returns
• Require modern safety and convenience features for your family
• Want features like A/C and power steering without compromise
• Have little interest in mechanical work or vehicle upkeep

Time to Own the Legend, Not Just Admire It

For over 40 years, Hillbank Motor Corporation has specialized in legendary vintage sports cars, including Shelby Cobras, Daytonas, GT40s, Caterhams, and other notable models. Every vehicle is expertly engineered and prepared for performance, giving you confidence that you're investing in something built with precision and passion.

We offer flexible financing, trade-in options, and consignment services to make ownership more attainable. Founded by Stan Stander in 1977 and now led by his son Lance, Hillbank remains a family-run operation driven by enthusiasm for authentic, high-quality classics. With showrooms in Irvine, California, and Jupiter, Florida, our team is ready to help you find the right car and support you through every step.

Explore our lineup and start your classic car journey today. Call 1-949-900-1960 or visit Hillbank Motor Corporation to experience what it feels like to own an American racing icon.