Classic and vintage car collectors rejoice: a vintage car law is in the works. Filled by Representatives Paul R. Daza, Weslie T. Gatchalian, Enrico A. Pineda, and Faustino Michael Carlos T. Dy III, House Bill 8244 or “An Act Regulating the Use and Registration of Vintage Automobiles and Other Historical, Classical, or Collector Motor Vehicles, Providing Exemptions and Restrictions on Their Importation and Use, Establishing a Vintage Car Registration and Assessment Office, and Appropriating Funds Therefor” will offer added protection to the importation and use of cars more than 30 years old.
While the act’s title is quite lengthy, in gist, the bill hopes to offer protection and rights to vintage car owners and collectors on every aspect from importation to registration and use.
The proposed bill puts an importation cost cap not exceeding 20 percent of either the purchase price paid by the importer to the seller (subject to the validation of the Bureau of Customs) or the vehicle’s fair market value based on standards such as the Kelley Blue Book, NADA Used Car Guide, or other comparable internationally regarded reference guide.
Furthermore, the act will allow the importation, registration, and use of right-hand drive vehicles manufactured on or before December 31, 1970, or to vintage vehicles intended for racing, or other forms of motorsport.
This may sound like a golden ticket for anyone who’d want to get their hands on some American Muscle or JDM 90’s classics (remember, 30 years ago is 1991), but the act does specify that vehicles must be in a historically correction condition, or modified only for the sake of safety and efficiency such as the installation of a new engine in the same specification as the original engine or the installation of radios, air conditioning, and the like.
Another thing is that these vintage vehicles will sport special number plates indicating their status as “Vintage Vehicle” and for that, their use would only be limited to Saturdays, Sundays, and Holidays, except for the purpose of registration or inspection by the LTO. The plate will be distinguished by having white letters and numbers against a black background.
Finally, the act plans to establish the VVRAO or Vintage Vehicle Registration and Assessment Office, which will, among many things, keep a database of the vintage vehicles in the country as well as the shops and companies engaged in their repair and restoration. This new office will be under the LTO and DOTr.
Check out the proposed bill below:
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