Motor Plans for Older Cars
If you’re the driver of an older car, whether it be a family heirloom, a hobby or passion of yours, or simply an “older model” that helps you get around, can you safely say that you have all the measures in place to ensure your classic car is in a roadworthy condition that not only ensures your own safety, but that of other road users?
Chances are, unless you are a classic car enthusiast, you are driving an older model vehicle as an attempt to either save money or avoid spending unnecessarily – so you’re likely not looking to spend more. If you look at it this way, though, taking out a monthly, affordable motor plan might be more financially beneficial than anything else you could have done for the car.
Let’s say you’re driving a 2005 model of a vehicle, it’s likely fully paid. Similarly, it likely also has a considerably higher mileage on the clock when compared to modern cars. This just means it’s seen a lot more, been through a lot more and survived a lot longer than the 2018 model standing next to it. Wear and tear is a normal part of any vehicle, and your golden oldie is no stranger to that.
Now, that 2005 model car is going to need a little more TLC than a new car; regular servicing and maintenance goes a long, long way. You do, however, still need to consider what you could do in the event of a sudden mechanical or electrical failure.
***Please note: Motorvaps only offers “older vehicles” (those older than 10 years) a service plan, with the option of major car component cover.
Motor Plans for Older Cars – Service Plans
As we’ve mentioned previously, your premium payable to any motor plan provider is based off a risk profile assessment, conducted at the very first stage of interaction with the institution. The age of your vehicle will be taken into consideration, and the potential provider will advise if your vehicle is able to be covered or not.
If your vehicle qualifies for a motor plan, consider the small amount you’ll be paying monthly and compare it to the cost of the repair of any of the covered components in your plan – and you’ll realise soon enough that you’ll walk away the winner.
Another factor to consider is that regular servicing is going to help keep your car in not only a working condition, but in a condition that it does not over consume fuel to the point it becomes unaffordable.
Motor Plans for Older Cars – Mechanical Warranty Plans
Mechanical warranty plans typically cover mechanical and electrical failure –which we know less modern cars are prone to. The technology in newer cars is more advanced, but will likely cost more to repair due to its complexity.
Older cars’ have easier electrical and mechanical technologies, meaning they should be cheaper to repair, but may still cost you a small fortune if you do not have the right plans in place to cover that financial burden.