Vintage car

Last updated
1919 Ford Model T coupe 1919 Ford Model T Highboy Coupe.jpg
1919 Ford Model T coupe
1921 Hudson Super Six phaeton 1921 Hudson Phaeton AACA Iowa 2012 fr.jpg
1921 Hudson Super Six phaeton
A restored 1925 Flint touring car (U.S.A.) at a rally in Australia 1925 Flint.jpg
A restored 1925 Flint touring car (U.S.A.) at a rally in Australia
1929 Pierce-Arrow 1929 PIERCE-ARROW.jpg
1929 Pierce-Arrow
1930 Cadillac V-16 452 Sport series phaeton 1930 Cadillac 452 V16 Fleetwood Sport Phaeton (3828514399).jpg
1930 Cadillac V-16 452 Sport series phaeton

A vintage car is, in the most general sense, an old automobile, and in the narrower senses of car enthusiasts and collectors, it is a car from the period of 1919 to 1930. Such enthusiasts have categorization schemes for ages of cars that enforce distinctions between antique cars, vintage cars, classic cars, and so on. The classification criteria vary, but consensus within any country is often maintained by major car clubs, for example the Vintage Sports-Car Club (VSCC) in the UK. [1]

Contents

History

The 1951 Cadillac Classic used by the then Saudi King The 1951 Cadillac Classic.jpg
The 1951 Cadillac Classic used by the then Saudi King

The vintage era in the automotive world was a time of transition. The car started off in 1919 as still something of a rarity, and ended up, in 1930, well on the way towards ubiquity. In fact, automobile production at the end of this period was not matched again until the 1950s. In the intervening years, most industrialized countries built nationwide road systems with the result that, towards the end of the period, the ability to negotiate unpaved roads was no longer a prime consideration of automotive design.

Cars became much more practical, convenient and comfortable during this period. Car heating was introduced (progressing from hot bricks via double-skinned exhaust manifolds to the heater radiator matrix), [2] as was the in-car radio. [3] Four-wheel braking from a common foot pedal was introduced, as was the use of hydraulically actuated brakes. [4]

United States Perspective

Towards the end of the vintage era, the system of octane rating of fuel was introduced, allowing comparison between fuels.[ citation needed ] In 1923 the gasoline additive tetraethyl lead made its debut at the Indy 500 that resulted in a boost in octane from the 1950s to the 1980s [5] In the United States drive-in restaurants were introduced as well as suburban shopping centers and motels.

Alfred P. Sloan and Harley Earl of General Motors, and Walter P. Chrysler capitalized on advertising the automobile's role in the life of the consumer for more than just the utilitarian value compared with the horse. The stock market crash of 1929 started the layoff of automotive workers and many new companies went bankrupt but over two million cars were still produced in 1929 and 1930. [6]

United States Federal road and highway acts

The Federal Aid Road Act of 1916 was the first federal highway act. War and lack of funding hampered any positive results of this act. The Federal Aid Highway Act of 1921 (Phipps Act) started a 50/50 matching fund to states for road building and resulted in the creation of new and improved roads. During this period as well as the car adapting to society, there were better roads, and society began to adapt to the car. Dwight D. Eisenhower participated in the highly publicized Transcontinental Motor Convoy in 1919 and after becoming President the experience influenced the Federal Aid Highway Act of 1956 that included 41,000 miles of highways.

Depression of 1920–1921

The end of World War I brought about the "Depression of 1920–1921" with an inflation rate of over 20 percent, a 7 percent Federal Bank discount loan rate, and an 11.7 percent unemployment rate, that resulted in many companies going bankrupt and the automotive industry was decimated. [7]

Industry rationalization

From 1919 to 1929, many dramatic changes took place. General Motors went into a financial crisis that lasted until after Alfred Sloan became president in 1923. Hudson produced the Essex in 1919 that, by 1925, had propelled the company to third in total sales behind Ford and Chevrolet. [8] Ford was in the process of building a new plant, buying back stock, and began an 18-month process of tooling-up to replace the Model T with the Model A in 1927. In 1921 Maxwell failed and Walter P. Chrysler, formerly of General Motors, was brought in to reorganize it and, in 1925, the Chrysler Corporation was formed. With Ford out for a period, Chrysler was able to produce and market the low-priced Plymouth in 1928, and bought out the Dodge Brothers, also in 1928, resulting in "The Big Three" in the United States.

There were other automakers that made it past the 1920-1921 depression only to fail during the Great Depression.

Europe

During the Great Depression, in Britain many small companies started in the post World War I boom failed or merged leaving six[ citation needed ] major manufacturers: Morris, Austin, Standard, Singer, Ford of Britain, and General Motors Vauxhall. A similar boom-and-bust cycle was seen in mainland Europe.[ citation needed ]

Safety issues

Antique automobiles and early to middle era[ when defined as? ] classic cars do not have the safety features that are standard on modern cars. The most rudimentary of safety features, front wheel brakes and hydraulic brakes, began appearing on cars in the 1920s and 1930s respectively.[ citation needed ]

Collecting

For the average person car collecting is a hobby. A person can have a fascination with a certain vehicle, make or a history with one so seeks a particular make or model. Finding such a car at an affordable price is not always hard but the price will depend on the condition or the desired end result. Usually the less work required on a vehicle equates to a higher price, the more work required means a cheaper initial cost, but often more in the long run, and a person's level of restoration experience plays an important part. [9]

Investment

Comedian and avid car collector Jay Leno stated, "Any car can be a collector car, if you collect it." [10] Car collecting as an investment can be rewarding but most serious investment collectors seek rare or exotic cars and original unmodified cars hold a more stable price. Collecting as an investment requires expertise beyond enthusiast collecting and the standard of quality is far higher as well as a need for investment protection such as storage and maintenance. A short-term investment collector must be able to find a vehicle that has market value that is expected to rise in the foreseeable near future. A long-term investment collector would be less interested in any short-term value seeking to capitalize on an expected value rise over a period of years and a vehicle must have certain intrinsic values that are common to other investors or collectors of both short and long term.

Rarity

Cars that were made in small numbers or often have a higher value but can be more difficult to maintain. Certain year and model cars became popular to turn into hot rods thus destroying their original condition. Other models were produced in such quantities that the price is still not inflated. Market trend is an important part in the price of a vintage car. An "almost" original and in perfect shape model A that was abundantly produced can be purchased for $20,000.00. [11] A collector as an investor would have to know the potential market and have a belief that the future market will bring a return on an investment.

Valuation

Determining the value of a vintage car can be difficult, as there are many different factors that can potentially influence the price. The age, condition, rarity, modifications, vehicle history and mileage can all drastically change a car's value, among other observable factors such as body type, drivetrain and engine capacity. [12] In recent years, services have begun providing classic and vintage car valuation data to the public, by establishing baseline prices for vehicles in various conditions and publishing marketing trends and forecasts collectors can use to monitor the state of the market. [13] As a result of the variability in car values, most insurers offer Agreed Value insurance coverage for classic cars. Agreed Value coverage involves both the owner and insurance company agreeing on the car's value and insuring it for the agreed amount. This differs from the Actual Cash Value claim settlement method used in traditional auto insurance policies, which determines the claim value of the vehicle after a "total loss" or vehicle theft occurs. [14] [15]

Condition categories

To collectors and investors, a vehicle's condition rating [16] is important, and in the United States there are two systems, the category and the points system. The category system has six categories used to rate the condition of a vehicle. The points system assigns points from 40 to 100 that correspond with the category system and below 40 there are three for other conditions. Both systems are listed together for ease of comparison:

Other categories

  • Restorable; 30 to 39 points. This vehicle would be in need of restoration of the motor, body, interior and/or chassis. A car in this class should be more or less complete, needing some parts but requiring a tremendous amount of work to get to show quality.
  • Partial; 20 to 29 points. This vehicle would require extensive restoration with a significant number of parts and amount of labor—a very time-consuming and costly prospect.
  • Parts car; 10 to 19 points. This would generally be an inoperative vehicle in poor condition, kept as a source or 'donor' of spare parts. With the exception of very rare vehicles, complete restoration of this category is usually not feasible.

Collectors Plates/ Antique Vehicle Registry

If a car is older than a certain age, a vintage car can be approved for an antique vehicle registration.

See also

Related Research Articles

<span class="mw-page-title-main">Model car</span> Scale model of car

A model car, or toy car, is a miniature representation of an automobile. Other miniature motor vehicles, such as trucks, buses, or even ATVs, etc. are often included in this general category. Because many miniature vehicles were originally aimed at children as playthings, there is no precise difference between a model car and a toy car, yet the word 'model' implies either assembly required or the accurate rendering of an actual vehicle at smaller scale. The kit building hobby became popular through the 1950s, while the collecting of miniatures by adults started to pick up momentum around 1970. Precision-detailed miniatures made specifically for adults are a significant part of the market since the mid-1980s.

<span class="mw-page-title-main">American Motors Corporation</span> Defunct American automobile company

American Motors Corporation was an American automobile manufacturing company formed by the merger of Nash-Kelvinator Corporation and Hudson Motor Car Company on May 1, 1954. At the time, it was the largest corporate merger in U.S. history.

<span class="mw-page-title-main">Packard</span> Defunct luxury automobile company

Packard was an American luxury automobile company located in Detroit, Michigan. The first Packard automobiles were produced in 1899, and the last Packards were built in South Bend, Indiana in 1958.

The Classic Car Club of America (CCCA) is an organization founded in 1952 to celebrate the grand automobiles of the prewar period. At the time, the vehicles covered by the club were considered too modern to be of any interest by such organizations as the Antique Automobile Club of America, and despite their often stupendous cost when new, were considered practically worthless.

<span class="mw-page-title-main">Personal luxury car</span> American car classification

Personal luxury car is a North American car classification describing somewhat sporty, sophisticated mass-market coupés that emphasized comfort over performance. The North American manufacturers most often combined engineering, design, and marketing to develop upscale, distinctive "platform sharing" models that became highly profitable.

There is no fixed definition of a classic car. They are usually older cars, typically 25 years or older, though definitions vary. A common theme is of an older car of historical interest to be collectible and tend to be restored rather than scrapped, though sometimes age is not a factor. Classic cars are often considered a subset of a broader category of "collector cars". A subset of what is considered classic cars are known as antique cars or vintage cars.

<span class="mw-page-title-main">Antique car</span> Automobile as an antique

An antique car is an automobile that is an antique. Narrower definitions vary based on how old a car must be to qualify. The Antique Automobile Club of America defines an antique car as over 25 years of age. However, the legal definitions for the purpose of antique vehicle registration vary widely. The antique car era includes the Veteran era, the Brass era, and the Vintage era, which range from the beginning of the automobile up to the 1930s. Later cars are often described as classic cars. In original or originally restored condition antiques are very valuable and are usually either protected and stored or exhibited in car shows but are very rarely driven.

<span class="mw-page-title-main">Car platform</span> Similar design and engineering specs shared between multiple cars

A car platform is a shared set of common design, engineering, and production efforts, as well as major components, over a number of outwardly distinct models and even types of cars, often from different, but somewhat related, marques. It is practiced in the automotive industry to reduce the costs associated with the development of products by basing those products on a smaller number of platforms. This further allows companies to create distinct models from a design perspective on similar underpinnings. A car platform is not to be confused with a platform chassis, although such a chassis can be part of an automobile's design platform, as noted below.

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<span class="mw-page-title-main">History of the automobile</span>

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<span class="mw-page-title-main">Automotive industry in the United States</span>

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<span class="mw-page-title-main">American automobile industry in the 1950s</span>

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References

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  2. Anees Saddique: A Bit About Car Heater History 9 March 2017 topics.dirwell.com, accessed 25 November 2018
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  14. "Why Should I Insure My Collector Car With a Specialty Classic Car Insurer Instead of a Regular Auto Insurer?". American Collectors Insurance. 2021-01-09. Retrieved 2021-06-07.
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  16. Understanding the Condition Rating System classiccars.about.com, accessed 6 November 2018