Despite the fall in the sales of new cars it has been revealed that the classic car market remains in good health.

In fact the credit crunch appears to be fuelling the rise in sales of these classic cars as they often can be more cost effective to drive. These vehicles can be bought as an investment, or other more finance orientated reasons.

An industry expert stated, “More and more people are turning to classics because of the recession. They are far simpler and owners can maintain and repair them themselves; saving money on expensive main-dealer labour rates and buying parts which are far more affordable. Even a specialist classic agreed value insurance policy will cost you a lot less than a policy for a modern car.

“People who would have bought a £100k Aston DB5 eight years ago, can no longer afford today’s £250k price-tag, so they’re having to look elsewhere – and it’s this demand which is dragging everything up,” He added.