It’s tough to resist the allure of a classic car. It’s a passion, a piece of history, a prized possession. The stakes are high for owners hoping to prevent classic car rust.
Investment in classic cars is on a slight upswing, following recent changes to federal tax law – specifically to Section 1031, allowing deferred capital gains tax if proceeds were used to purchase a collectible – including classic cars. While other luxury assets like jewelry, stamps and art dipped, the value of the classic car market increased by 17 percent in recent years, according to the Knight Frank Luxury Investment Index.
Rust is the enemy of every vehicle – old or new. It can attack no matter the climate or road conditions. Classic car rust is especially painful, as most owners have already poured in a great deal of time and money. Those flaking, orange bubbles can creep up suddenly on the surface or in crevices unseen, and are referred to by some as, “cancer holes.”
Yet it’s rare to find a decades-old vehicle without a single speck of rust. The auto industry has come a long way in terms of developing ways to keep newer models from rust ravage, with more effective preventative and galvanizing coatings. Vintage cars are innately more prone to clear coat peeling and overall paint peeling. Elements like moisture and road salt feed and accelerate breakdown of components.