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Women Are Loving Classic Cars More And More Study Finds


More women are getting into classic car ownership, according to new research – and they’re becoming savvier investors as well.

Classic car insurance broker Footman James carried out the poll, which spoke to more than 2,000 adults. It revealed that one in four women would now consider buying a classic car.

Footman James’ data has also revealed that, over the past two years, the number of female classic car owners has risen by 40 per cent, with female customers expected to account for 11 per cent by the end of 2016.

The average age of a female owner has fallen consistently over the last few years, now standing at 52 years old. Footman James’ records showed that the top classic car makes owned by women were Morris, Volkswagen, MG, Mazda and Land Rover.

 

Birmingham was found to the city with the highest number of female owners, perhaps unsurprising given the popularity of the Classic Motor Show held at the city’s NEC venue each year.

 

Top 5 towns/cities with female owners:

1

Birmingham

2

Tonbridge

3

Bristol

4

Sheffield

5

Brighton

 

Proving that women really do have an eye for detail, when asked to select models that have risen most in value in the past year female drivers correctly identified two of the top five classic cars that have seen the biggest increases – while men were only able to identify one.

Women successfully picked iconic sports car the Lamborghini Miura and outdoor favourite the Land Rover Defender – which saw increases in value of 62 per cent and 43 per cent respectively over the past 12 months.


 
The remainder of the top five classics was made up of the Peugeot 205, the VW Golf MK1 GTI and the Fiat (Ferrari) Dino, with the 1966 classic surging in value by 113% in the last year alone.

 

Rising classic car values in past year:

Top 5 selected by men

Top 5 selected by women

1.Aston Martin DB4

1. Aston Martin DB4

2. Jaguar E-Type

2. Jaguar E-Type

3. Ferrari 275GTB

3. Ferrari 275GTB

4. Porsche 911s

4. Land Rover Defender 

5. Lamborghini Miura

5. Lamborghini Miura

 

Actual Top 5 

12 month value increase

1. Fiat Dino

113%

2. Lamborghini Miura

62%

3. Peugeot 205

44%

4. Land Rover Defender 

43%

5. VW Golf MK1GTI

43%

 

Footman James’ research also found that on average men spend more each year maintaining their classic, spending £1,700 compared to the £1,500 forked out by female buyers. The findings also showed that motivations for entering the classic car market seem to differ between women.

More than one in five (21%) said that nostalgia would influence their decision to buy a classic model, while just under a fifth (17%) would be attracted by the investment returns on offer or encouraged by recommendation from a family or friend (19%). 
 
Liam Lloyd, from Footman James, said: “Nowadays the classic car market is no longer an old boys club, with female owners proving their savviness when it comes to picking the top-performing models.

“The popularity of mainstream media has introduced a whole new array of people to the world of classics, reflected in the rising interest from female buyers across the country. However, for any buyer, regardless of age or gender, it’s important to keep a few top tips in mind". 

“Look to buy the best, seek expert advice, don’t be afraid to ask questions and monitor the market. Also, while it’s natural to focus on potential increases in value – it’s just as important to make sure it’s a car you actually like". 

“After all, there’s a reason it’s often called a passion purchase. Once you are the proud owner it is important you ensure your vehicle is adequately covered, as rising values - while of course positive news - could also leave you underinsured." 

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