Best cheap classic cars 2022
There are many reasons why you might want to buy a cheap classic car. Maybe it’s to relive your youth by driving the saloon or estate car your parents owned when you were a child. Perhaps you fancy buying the sports car or hot hatchback you dreamed about when growing up?
Whatever the reason, there are thousands of cheap classic cars to choose from, including humble saloons of the 1970s, hot hatchbacks of the 1980s and performance coupes of the 1990s.
Armed with a virtual budget of around £5,000, we’ve scoured the classic car auctions and classified ads in search of cheap classics. We think there’s something for everyone here, whether you’re after a weekend toy or something characterful for the daily commute.
A classic car insurance policy should help with the running costs, while joining an owners’ club or forum could be beneficial if you’re after parts and advice. When you’re ready to take the plunge, here are some cheap classic cars to consider.
Best cheap classic cars
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Ford Focus
You might think the Ford Focus is too modern to be considered a classic, but it’s worth remembering it was launched nearly 25 years ago. More than just a quantum leap forward from the lacklustre Ford Escort, the Focus sent shockwaves through the family hatchback sector and was convincing enough to give the Volkswagen Golf a bloody nose. Stunning ‘New Edge’ styling, a smart interior and class-leading ride and handling were the hallmarks of this terrific car. Even the 1.6-litre version is rewarding to drive, but it might be worth stretching the budget to an ST170. The original Focus is a classic in the making.
BMW Z3
Do you remember seeing the BMW Z3 in the 1995 film GoldenEye? Twenty-seven years on, it’s one of the most affordable Bond cars you can buy, and is significantly cheaper than an Aston Martin DB5 or a Lotus Esprit. It’s also a massively underrated car; dismissed because it’s not as precise or sporty as a Porsche Boxster. Don’t let the naysayers put you off, because even the four-cylinder versions are quick enough, while the six-cylinder models are properly rapid. With prices starting from around £1,500, you’ll be stirred but not shaken. Not bad for a rear-wheel-drive roadster with German build quality.
Mazda MX-5
Mazda hasn’t built a bad MX-5, but the Mk2 (1998-2005) is the cheapest of the breed. Like any MX-5, the Mk2 is susceptible to rust, so check the problem areas before parting with your cash; the earliest cars will be 25 years old next year, which is a long time for corrosion to take hold. Early examples were fitted with a five-speed gearbox, with the six-speed transmission standard from 2001. It’s worth noting that later examples are actually more rust-prone than early cars, so buy on condition. Prices vary, with ‘parts cars’ starting from around £1,000. However, a budget of £5,000 is enough to secure a good one.
Austin Allegro
It’s easy to knock it, but the Austin Allegro was nowhere near as bad as you think. You can thank those lazy ‘worst car’ lists and a popular motoring TV show for its poor image. Sure, typical British Leyland shortcuts and cost-cutting meant that the Allegro never fulfilled its potential, but this is an excellent first-time classic. There are plenty of engines to choose from and the Hydragas suspension delivers a supremely comfortable ride. Prices will rise as cars fall by the wayside, so grab one while they’re still cheap – you might be pleasantly surprised.
MG MGF
The MGF’s biggest crime is that it’s not a Mazda MX-5. In isolation, the MGF is an excellent sports car and one of the cheapest ways into the world of mid-engined motoring. Launched in 1995, the MGF was a spiritual successor to the phenomenally successful MGB, with power sourced from a choice of 1.8-litre engines. Its interconnected Hydragas suspension delivered brilliant roadholding, and while there are plenty of potential problems – the head gasket being one – many issues will have been ironed out by enthusiastic owners. This is a surprisingly practical roadster that you could daily-drive to work.
Renault 5
The Renault 5 is celebrating its 50th anniversary in 2022, so there’s never been a better time to buy one. The modern supermini can trace its roots back to the brilliant Renault 5, which featured innovative plastic wraparound bumpers and a hugely versatile interior. Some 5.4 million were produced before the famous 5 was replaced by the Marcello Gandini-designed ‘Superfive’ in 1984. Although less iconic than the original 5, there are still plenty of second-generation models in active service, so you won’t have a problem finding one. Buy a Renault 5 Monaco for a touch of luxury.
Alfa Romeo GTV and Spider
The Alfa Romeo Type 916, commonly known as the GTV and Spider, arrived in 1995. Like the Fiat Coupe, it was based on the platform of the Fiat Tipo, initially with a choice of 2.0-litre Twin Spark and 3.0-litre Busso V6 engines. Naturally, you’ll lean towards the V6 and its glorious soundtrack, but the 2.0-litre version is nicer to drive and cheaper to run. In all cases, survivors are getting thin on the ground, with owners put off by complex and costly repairs. This may explain why prices remain affordable, but we can’t see this lasting forever.
Rover 75
The Rover 75 is one of the bargains of the classic car world, with prices starting from around £1,000. As the first and only Rover to be developed wholly under BMW ownership, it has secured a chapter in the Big Book of British Motoring History. This was an achingly good car that stands up to close scrutiny, even two decades on from its launch. We’d avoid the 1.8-litre petrol, but that’s fine because the 2.0-litre and 2.5-litre engines are so good. Better still, opt for the BMW-sourced 2.0-litre diesel, which offers a terrific blend of economy and durability. Found a 75 V8 within budget? Buy it!
Mercedes-Benz W124
Some say the W124 was the last of the great Mercedes-Benz models. Launched in 1984, it replaced the equally good W123, but introduced a host of technological advances, most notably in the fields of passive and activity safety. Available as a saloon, estate, coupe and convertible, and with a wide choice of engines, there’s a W124 for all. The hugely practical estates are highly sought-after – and prices reflect this – but the saloons remain affordable. Watch for signs of rust, but a good W124 should outlive the human race. A properly engineered old Merc is far cooler than a modern crossover, no?
Peugeot 205
While the hot hatch GTI hogs the limelight, the common-or-garden Peugeot 205 has been left to its own devices. Use this to your advantage, because you can buy a regular 205 for a few hundred quid, which is crazy for a supermini as iconic and beautiful as this. The three-door model is the most alluring, but the five-door 205 is still a practical hatchback that’s dripping in retro French cool. Buy a diesel and you’ll enjoy excellent fuel economy and a feeling that the car will run forever. Well, until it’s no longer socially acceptable to drive a diesel car.
Where’s the best place to buy a cheap classic car?
You’re unlikely to find a cheap classic car on an auction website, because you’ll almost certainly be outbid by a fellow enthusiast. That said, there are still bargains to be found on eBay, especially if the car has been listed incorrectly. We’d recommend Facebook Marketplace, because while you’ll have to sift through a lot of bangers, there are plenty of bargains to be found. Also look out for signs on shop noticeboards or ads in the local newspaper.
Can I drive a cheap classic car to work?
There’s nothing to stop you driving a classic car to work, but check that your insurance policy includes business use and commuting. If you’re mixing it with modern traffic, it’s worth remembering that classic cars lack the active and passive safety systems we take for granted in 2022. For the best balance, choose a car from the 1990s, as these tend to be well built and should come with the likes of ABS brakes and airbags.
Should I buy a cheap classic car as an investment?
You might be thinking a cheap classic car is a passport to riches. Sadly, this isn’t necessarily so. There’s no saying if or when the current price bubble will burst, so we’d advise buying a classic because you want to own and run it. While a profit is far from guaranteed, you should be able to get your money back if the car has been looked after during your ownership. Don’t forget the cost of upkeep, though.
