Affordable classic cars in Canada (2025)

Are you interested in buying a classic car, but you’re on a budget? BrokerLink is here to help. Not only can we help you find a cheap classic car by outlining some of the least expensive vintage cars on the market today, but we can also help you cut costs on your classic car insurance. Continue reading to find out more about cheap classic cars and cheap classic car insurance.

Inexpensive classic cars in Canada

If you need help finding a classic car within your budget, we've compiled the following list of popular classic cars that are often found at an affordable rate. Many of these models can be found for a price of less than $50,000 throughout Canada. We've sorted them into categories to help make it easier for you:

North American classics

• Buick Regal

• Buick Skylark

• Chevrolet Camaro

• Chevrolet Caprice

• Chevrolet Monte Carlo

• Dodge Dart

• Ford Crown Victoria

• Ford Mustang

• Ford Thunderbird

• Pontiac Firebird

European classics

• Alfa Romeo Spider

• BMW E30

• Mercedes-Benz 230E

• Mercedes-Benz 280SL

• Saab 900

• Volvo PV444

• Volvo PV544

• Volvo 1800E

• Volkswagen Beetle

Japanese classics

• Datsun 620

• Datsun Roadster

• Honda Prelude

• Mazda MX-5 Miata

• Nissan 300ZX

• Toyota Celica

Where to find cheap classic cars in Canada

While classic car clubs and local auctions used to be the best places to find classic cars, it's now easier than ever with the help of the internet. There are many websites available where people can sell or buy classic cars from all over Canada, North America and more. Here are some of the more popular places to find cheap classic cars for sale in Canada:

• Facebook Marketplace

• Kijiji

• Classiccars.com

• Hemmings.com

• Craigslist

• Local auctions

• Classic car clubs and forums

What qualifies as a classic

A classic car is usually considered to be 25 years or older, but age isn’t the only factor. There’s no universal definition; different countries, insurers, and car clubs have their own rules for what qualifies as a classic. Take the Classic Car Club of America (CCCA), for example; they define a classic as a “fine” or “distinctive” car built between 1915 and 1948. But when it comes to vehicle registration, many provinces may actually classify cars from that era as antique or vintage instead.

That said, the general idea is that an older car with historical significance becomes collectible and is more likely to be restored than scrapped. Classic cars can range anywhere from 10 to 50+ years old, and the term often includes vintage, antique, and collector vehicles. At the end of the day, whether your car is officially a "classic" depends on who you ask, your insurance company, your car club, and even your country might each have different age requirements.

Don't forget to insure your classic car

Speaking of insurance companies, insuring a classic car is a vital step that should be taken immediately upon purchasing a classic car. That said, not all classic cars may qualify for car insurance. Further, even if your car qualifies, you might not know what types of car insurance you need in your policy. That’s what BrokerLink is here for. Here's what you need to know about classic cars coverage:

What does classic car insurance cover?

Car insurance coverage for classic cars ultimately varies, as it depends on your location in Canada and what coverages you choose to include with your policy. That said, your car insurance policy will need to include the mandatory coverages in your province at a bare minimum. However, because your car is a classic and likely expensive to repair or replace, you'll probably also want to include a few optional coverages to help you protect your vintage vehicle more thoroughly. This means your classic car insurance policy will include some variation of the following:

• Third-party liability car insurance

• Uninsured motorist coverage

• Accident benefits coverage

• Direct compensation-property damage coverage (DCPD)

• Collision coverage

• Comprehensive coverage

• Accident forgiveness coverage

Remember that car insurance is a legal requirement everywhere in Canada, whether you drive a classic car that dates back to the 1960s or a vehicle that was manufactured last year.

The penalties are the same if you are caught driving without insurance in any type of vehicle. For example, in Ontario, you could face fines of up to $25,000 for a first offence and up to $50,000 for a second offence, as well as the potential impoundment of your vehicle and suspension of your driver’s licence.

How is classic car insurance different from standard car insurance?

Classic car insurance is similar to standard car insurance in many ways, but there are some big differences that set them apart:

Age and driving restrictions

Classic car insurance often has restrictions based on the car's age and how often you drive it. As we mentioned, your car generally needs to be at least 15 years old to qualify for classic car insurance, but the rules vary by insurer. Some might only cover cars between 20 and 30 years old.

Also, classic car insurance is meant for fun, not for everyday driving. That means your vintage ride can’t be your daily commuter. You’re good to take it to car shows, club meetups, parades, or even for repairs, but most insurers won’t cover regular trips to work or the grocery store. Some policies even put a cap on how many kilometres you can drive each year.

How your car's value is calculated

With regular car insurance, your payout is based on actual cash value (ACV), which factors in depreciation. So if your car is totaled, you’ll get a payout based on its current market value, which is usually much lower than what you originally paid. Most modern cars lose value fast, so this can be a big downside.

Classic car insurance works differently because collectible cars appreciate in value over time, especially when well-maintained. Instead of ACV, these policies often use agreed value coverage, meaning you and the insurer agree on your car’s value upfront. If it’s stolen or totaled, you get a payout that reflects its true worth, not a depreciated amount.

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