The term ’classic car’ has taken on a whole new role in the past few years, values have gone through the roof for the truly desirable ones and mass nostalgia has seen even previously unloved old relics rising in value.

Remember when an old Ford Cortina was just a sad old rust bucket or the Ferrari Mondial was the worthless runt of the Maranello stable? Well, those days are long gone, now just about anything that has survived 25-years or longer is referred to as a ‘classic’.

While many people are jumping at the opportunity to get in on the action, the true cost of owning and maintaining a decades-old car is usually left out of the equation. We highlight some of the more important aspects that you should consider before laying down your hard-earned cash for what could possibly cost you a whole lot more than you bargained for.