Classic Cars With Brexit Benefits
Jaguar Land Rover and other U.K.-based automakers may be worried about the effects of Brexit, but Britain leaving the European Union could be a boon for one tiny backwater of the British auto industry: classic-car dealers.
The slumping British pound has made collectible cars from the U.K. -- and the parts to keep them going -- about 15 percent more affordable in the U.S.
Once a vehicle reaches 25 years from its date of manufacture, it is legal to import and register it in most states. Many models that never were originally sold in North America -- Mini Coopers after 1967, certain Land Rovers, the 1980s Ford Capri, Lancia Delta Integrale and Peugeot 205 GTI -- are popular imports under the 25-year rule.
Before Brexit, the pound was worth about $1.46. After the historic vote June 23, the pound crumbled to $1.31, its lowest level in more than 30 years.
Heck, in some cases, the weaker pound vs. the dollar will effectively pay the cost of shipping the vehicle, which usually runs about $1,500 from Southampton or Liverpool to the East Coast.
British classic-car dealers could see higher demand from American buyers. Indeed, last week, three U.K. dealers popped up on eBay Motors advertising classic Brit cars -- one Mini Cooper and two old Land Rovers.
This article originally appeared on autonews.