Ownership used to be aspirational; an achievement, a status symbol and mark of success. My parents brought me up to believe that hard work and patience paid off. From a CD, DVD or cassette tape collection, to furniture or a fancy TV, possession was something to be proud of. We coveted calling things our own. As a little girl I saved my pocket money to purchase things from the Argos catalogue, and when I started working a proportion of what I earned went towards the deposit for a house.
In recent years though, society has sold into a subscription economy; spending but not wanting to commit. The shift gained momentum during the pandemic, and now the typical Brit forks out about £72 per month for three subscriptions to access streaming platforms, clothes and cars. For Millennials and Gen Z, it’s four. Signing up for products, services and a lifestyle people may not have otherwise been able to afford, the model is a consumers dream. You can have it all, except, it’s not really yours.
Historically, automotive was one of the most ownership-driven sectors, but with the rise of car sharing, ride-hailing apps and flexible contracts offering a single monthly payment that covers the vehicle, insurance and maintenance, outright possession has lost its appeal. Convenience without the onus of long-term upkeep wins. For the modern vehicle in your fleet, sure, it makes sense. What worries me is the mindset.
An asset-light way of life is the norm for young people, making it likely there will be fewer drivers with aspirations to become custodians of classic and historic cars. The market relies on enthusiasts looking for long-term relationships, so dwindling interest in automotive monogamy equals a smaller pool of people who’ll want to enjoy, take care of and preserve them. This puts the future of older cars under threat.
During a powerful keynote speech at the HCVA Heritage Matters Day in April, Alex Brundle, racing driver and motorsport pundit, said this: “My role in the world of historic car racing is to try to communicate what it’s like to race these cars to a new and a younger audience.
“And I start where they are. And I can tell you where they are. It’s on Instagram all day long. Social media is a pretty awful place really. It’s intolerant. It’s jealous. You pour in yourself and your data to a seemingly endless well for limited return. So why tolerate continuously handing your life and your data to these massive corporations in order for them to sell you things or sell it to others with seemingly no obvious payback?
“Could it be that for many youngsters for the next 20 years at least their Instagram feed is the only piece of real estate many of them will ever own. It’s a place they can build. It’s a place they can create. It’s a place they can make to reflect who they are.
“Enter the historic car, which offer to our generation something which is increasingly rare, something which is yours, something that you can improve, something that you can build into something that represents you.”
Pride, substance and identity, what Alex described and what older vehicles offer is a foundation on which someone can build. In a transient, transactional society, they are a tangible, real world thing.
He continued: “We spend a great deal of time wondering why young people disappear into strange toxic corners of the worldwide web, but it’s hard to buy into a community when you live in something that isn’t yours and you don’t own anything to show for it.
“With great transience comes great irresponsibility. In the recent Louis Theroux documentary on the manosphere, young men are depicted desperately searching for their purpose and belonging, groping around in a world which is not offering them anything to demonstrate their abilities and their character. So classic cars to save the world then. Maybe that sounds a tiny little bit grandiose, I will admit, but they might save someone. And that’s enough, isn’t it?”
Demand for subscriptions in the UK is growing; spending on them has increased by approximately 10% in the last twelve months. We’ve become stuck in an unhealthy cycle of dependency. This illusion that we can have it all. Using everything but owning nothing, it’s a sorry space to inhabit. Rather than liberate, it robs us of the sense of accomplishment that achieving a milestone or life goal can give. Buying a first car, a first home, a first anything, is an incredible feeling. Puff out that chest and feel proud! It also teaches us to be responsible, and to understand the value of things.
Talking of which, the boom times of the post-Covid era are over; nearly 80% of classic car values dropped or remained static in 2025, according to the Hagerty Price Guide. This is great news for a newby, (or someone wanting to switch up or grow their fleet), with lots of models now more affordable than they were before. With less than two grand you could pick up a BMW 318i or nineties Range Rover – both of which can be insured with Hagerty UK for around £400 a year. The costings of nine classic cars most suited to young drivers have been broken down, here. Classic cars to save the world then, or at least the next generation. For classic cars and for people, cancelling a subscription and signing up for the long haul is a win, win.
Is ownership still something to aspire to, or has the subscription economy changed your outlook? Join the conversation in the comments below.
