In Australia, there are two main classic car registration categories: the Historic Vehicles Scheme (HVS) and the Classic Vehicle Scheme (CVS). The latter requires vehicles over the age of 25 (or 30) with modifications out of the age-range to be considered 'Historic'. Under these schemes, owners are not required to pay the usual registration fee, but the use of the vehicle is restricted to a set limit per registration term. Examples include most classic Ford Falcons, Chrysler Valiants, and Holdens (alongside Toranas and Commodores).
Canada has the Vintage Car Club of Canada (VCCC), which recognizes vehicles 25 years old and older. The National Association of Automobile Clubs of Canada (NAACC) recognizes stock and modified vehicles that are at least 20 years old as classics. Imported classic or antique vehicles are subject to a 2.5% duty rate, with exceptions for vehicles 25 years old or older (due to NAACC efforts) and Canadian-manufactured cars.
In the United States, cars produced in 1915 and older typically fall into the antique class, but the "classic" term is often applied loosely by owners to any car over 20 years old. There is variation regarding the exact identification of a "classic car," with divisions by eras including horseless carriages, antique cars, and classic cars (typically 1930s cars such as the Cord 812). Some also include muscle cars, with the 1974 model year as the cutoff. Most states have time-based rules for defining "historic" or "classic" for legal purposes, such as Maryland defining historic vehicles as 20 years old or older and West Virginia defining motor vehicles manufactured at least 25 years before the current year as eligible for "classic" car license plates.
The Classic Car Club of America (CCCA) describes a CCCA Classic as a "fine" or "distinctive" automobile, either American or foreign, produced between 1915 and 1948. The CCCA term "antique car" has been confined to "the functionally traditional designs of the earlier period," mostly pre-war, which tended to have removable fenders, trunk, headlights, and a usual vertical grill treatment. Examples include large vehicles like a Duesenberg or Pierce-Arrow, or a more diminutive form like the MG TC. The CCCA maintains this definition of "classic car" and uses terms such as CCCA Classic or the trademarked Full Classic. The CCCA is dedicated to preserving and enjoying select cars that "are distinguished by their respective fine design, high engineering standards, and superior workmanship." Other differentiating factors include engine displacement, custom coachwork, and luxury accessories such as power brakes, power clutch, and "one-shot" or automatic lubrication systems. The vehicles on their list "represent the pinnacle of engineering, styling and design for their era." The CCCA has estimated that 1,366,843 "American Classics" were built. Any CCCA member may petition for a vehicle to join the list, but commercial vehicles such as hearses, ambulances, or race cars cannot be accepted as a Full Classic.
The Antique Automobile Club of America (AACA) recognizes "motorized vehicles 25 years old or older, built in factories and specifically designed and manufactured for transportation use on public roadways and highways." The AACA evaluates such vehicles that are historical or that have "been restored to the same state as the dealer could have prepared the vehicle for delivery to the customer." Specified AACA classic vehicles include "fine or unusual domestic or foreign automobiles primarily built between and including the years 1925 and 1942."
The United Kingdom has no fixed definition of a classic car, but taxation issues lead to cutoff dates. Cars built over 40 years ago are exempt from paying the annual road tax and the yearly UK safety test known as the MOT test, provided no substantial changes have been made. HM Revenue and Customs define a classic car for company taxation purposes as being over 15 years old and having a value over £15,000. Widespread acclaim through car magazines can also determine classic status, but the definition remains subjective. In Germany, vehicles registered at least 30 years ago can apply for a special "Oldtimer" license plate with a €190/year flat tax. These cars are required to be in mostly original condition and have a preservation-worthy appearance. Modifications that enhance safety and environmental friendliness are universally accepted, as are other modifications contemporary with the car's first registration.
Modern classic cars are generally older, ranging from 15 to 25 years old. However, these are not always accepted as classics by certain areas and groups, such as the Antique Automobile Club of America. In the United Kingdom, the modern classic definition is often open to the discretion of Insurance Brokers and Insurance Companies who regard a Modern Classic as a vehicle considered collectible regardless of age, with usage limited to recreational purposes and restricted mileage.
There was a worldwide change in styling trends in the immediate years after the end of World War II. For example, the 1946 Crosley and Kaiser-Frazer changed the traditional discrete replaceable-fender treatment. From then on, automobiles were designed with "envelope bodies" (Ponton cars) as a standard form.
Classic cars often lack what are now considered basic safety features, including seat belts, crumple zones, or rollover protection. Vehicle handling characteristics and brake performance are poorer than current standards. In certain jurisdictions of the United States, using a classic car as a daily vehicle is strongly discouraged and may even be considered illegal. A crash test of a 2009 Chevrolet Malibu with a 1959 Chevrolet Bel Air sedan demonstrated the effectiveness of modern car safety design. Retrofitting seat belts can be problematic due to the lack of reinforced mounting points in older car bodies. Fitting modern tires is also a suggestion to improve handling, but compatibility issues with suspension and wheel design must be considered. Upgrading braking systems is an effective method of improving safety. Most US-market cars built in 1966 and later have basic safety features such as padded dashboards, seat belts, dual-circuit braking systems, and safety glass. Some of the newest classic cars (1980s and 1990s) have more advanced safety features such as airbags and anti-lock brakes. Despite these concerns, classic cars are involved in significantly fewer accidents. Classic cars are typically built to meet the national car emission levels that were present in the year of production of the vehicle. As a result, they may not be allowed to enter cities with special emission restrictions or low emission zones.
There is a difference between the valuation of general classic car models and the valuation of a specific classic car. Two examples of the same classic car model may have different market values depending on idiosyncratic factors such as mileage, service history, documentation, restoration quality, originality, participation in special events, distinctions and awards, and association with notable people. Observable characteristics of aesthetics, rarity, engineering, and performance determine classic car model values. Classic car marques play a critical role in the determination of model values.
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