Best classic motors you can buy for less than £5,000 in 2024 including ‘dark horse’ BMW
A MOTORS expert has revealed the best classic cars to buy for under £5,000 in 2024, including a BMW dubbed “more stylish than its successors”.
Alex Robbins, who runs the Ask The Expert column for The Telegraph, explained why owning a vintage vehicle doesn’t have to be a “luxury“.
Alex said: “The truth is that you don’t have to be dripping with spare cash to indulge in an interesting old car to tinker with and enjoy at weekends.
“Indeed, if you’re willing to accept a classic that’s a little more modern than the norm, then an interesting old car can still be yours for less than £5,000.
“All of these cars will be frugal, fun, and easy to work on.”
Mercedes-Benz W124
The W124 was described by Alex as “one of the best and most complete” cars its manufacturer has ever produced.
Available in saloon, coupe or convertible specs, customers could also choose from a range of engine configurations including inline-four, inline-six and V8 versions.
You could even pick one up as a six-door limo.
Pricing from just £2,500 at the lower end, later examples can sneak in just under budget.
And for those living in cities with environmental restrictions like London’s ULEZ, W124’s from the first production year, 1984, are also covered by the rolling 40-year “historic vehicle” cut off from this year.
Ford Sierra
The Sierra, produced between 1982 and 1993, is actually a relation of Ford’s P100 pickup truck, but has endured as a comfortable mid-size family saloon.
Drivers could also go for a 5-door estate option or even have it set up as a van, but the four-door version is the best known.
They start from just £2,000 these days and a quality Sierra can still sneak in under £4,000.
Maintenance costs tend to be decently low and the simple setup means that many repairs can be DIY jobs.
However, rust can be a significant issue, especially on the units produced at Ford’s former UK plant in Dagenham, East London.
Saab 900
Saab sadly went bust in 2011 despite the enduring love for their motors among discerning petrolheads but there are still plenty around on the resale market.
While values are creeping up, they can still be found for as little as £3,000 and it’s only around a £500 markup to get one in decent condition.
They are another one to watch for rust, especially on the underside, but, since production began in 1978, their are also a fair few out there that qualify as historic.
BMW 5 Series E34
Like the Merc, these sneak in just under budget, with £3,000 being just about the floor for the E34 and a used model in good nick clocking in around £4,500.
Described by Alex as a “dark horse” that was “arguably more stylish than its successors”, there are both manual and automatic versions out there for good money.
Sadly, with a production run from 1989 to 1996, owners will be stuck paying full tax and environmental charges for at least the next five years, so they aren’t great for petrolheads in major cities.
Nonetheless, if you can open one up on a country road without paying £12.50 for the privilege, you’re likely to have a grand old time.
Rover Metro GTa/GTi
An icon of the 1990s, the post-Leyland Rovers were not always renowned for their reliability and performance, but the tuned up GTa and GTi variants are a “well-kept secret”, according to Alex.
They only laid down 95 horsepower when new but, considering they weigh well under a tonne, they can still move along at a fair clip.
Basic Metros can be scooped up for around £2,000 and there are plenty of options right to the top end of the budget.
One thing Rover couldn’t be accused of was not making enough cars, and the Metro remained one of the UK’s most popular models right to the end of its lifespan.
Just bear in mind that the Metro was a direct continuation of the Austin of the same name, but it’s best to avoid the pre-Rover versions (which debuted in 1990) as they can’t run on unleaded fuel.