‘Do it right now!’ It’s skyrocketing in value! ‘On his classic vehicle company,’ Richard Hammond says.
While speaking on ITV’s Good Morning Britain, TOP GEAR’s Richard Hammond urged drivers to buy classic automobiles now before prices climb in the near future.
He was responding to Adil Ray, the host of Good Morning Britain, who stated he was keen to get his hands on a classic Mercedes. He went on to say that buying classics was not as expensive as he had anticipated, with some available for as little as £10,000.
Mr Hammond agreed, but cautioned drivers to get on the road as soon as possible.
“If you’re going to do it, do it immediately because they’re going to skyrocket in value,” he said.
“Classic cars have so much to tell about their era,” he continued.
“They’re usually from a time when automobiles were more than just utilitarian.
“They were still attached to a time when it was a novelty to say, ‘look there; there is no horse in the front and it is moving.’
“They were utilized to express a lot of their period, and they are really telling artefacts,” she says. So that was something I wanted to pursue.”
Mr Hammond recently founded the Smallest Cog, a classic car restoration company named after his grandpa, who worked as a coach builder.
The TV celebrity has partnered up with restoration experts Neil and Anthony Greenhouse to realize his dream.
Over the years, the Hereford-based team has assisted in the restoration of a number of Hammond’s own classics, notably his Jaguar XK150.
The new company will make its premiere at the London Classic Car Show in Syon Park this weekend.
Mr Hammond stated that the new enterprise was created to give back to the automotive community.
Many experts have also advised drivers to buy historic cars as soon as possible because their values are starting to climb.
Drives should consider swapping their commuting models in favor of classics, according to Andy Gregory, expert at Heritage Parts Centre.
He claimed that owners of historic cars with the correct vehicle would never have to worry about depreciation.
He claims that some rarer classics are “unlikely to depreciate in value,” with many actually “increasing in value.”
According to experts at Car and Classic, even cars as old as 25 years old are “performing like classics” in terms of price.
They went on to say that automobiles like the Nissan Skyline and Toyota Corolla are great instances of cars that have “completed depreciation.”
Rather, they issued a price warning for these models. “Brinkwire News in Condensed Form.”