Pang’s Motor is your trusted dealership for both new and second-hand cars with a stellar reputation since 1985. Their dealership is known to spare no expenses during their car restoration process as they believe that their customers only deserve the best. Pang’s Motor focuses on competition-driven prices rather than production costs and overheads to ensure customer satisfaction.
Aside from running his self-started business, Steve Pang, founder of Pang’s Motor has been collecting classic cars ever since he obtained a driver’s license. In this exclusive interview, Steve shared with us his enviable collection and a few tips on how you can start your own classic car collection too!
1. Tell us a little bit about yourself and how did you get into collecting classic cars?
Steve: As an engineer, I have loved cars since I was young. I had my driving license in 1977 and started owning cars till today. I like classic cars because they are mostly mechanical and I enjoy playing around with it.
2. What is it like buying, restoring and owning classic cars?
Steve: I would either buy a classic car that is fully restored and pay a high price for it or buy one regardless of its condition and restore it to its original condition myself. I do not have a preference on the type or brand of the classic car when it comes to buying them, as long as I feel that they are collectable.
3. What are the challenges associated with collecting cars? (Among these “hidden” costs include storage space rental, shipping costs, routine maintenance and insurance.)
Steve: Insurance costs for classic cars are usually fixed and cost less than $300, whereas the maintenance and storage rental costs will depend on how often the car is used and the storage location. For example, if you store your car at a ‘ulu’ place in Tuas, you can save on the storage rental. As for the hidden costs, they include the difficulty in getting car parts where ordering them from overseas or fabrication is required.
4. How much maintenance you are willing to do is going to drive your purchases. Are you willing to buy cars that need a lot of costly work in order to make them presentable? If so, how much in repairs are you willing to spend?
Steve: The amount of maintenance I am willing to spend depends. I have spent many thousands on the 1918 Maxwell 18, which is 102 years old and the only workable one in Singapore.
5. In your opinion, what kind of cars are considered classic cars?
Steve: Classic and collectible cars in America would be muscle cars that have very big engines, about three- to four-thousand CC such as the Cadillac, Chevrolet, Thunderball, Ford Mustang. In the United Kingdom, they include Bentley, Jaguar and Rolls-Royce. Fiat, Lamborghini, Ferrari and Maserati for Italy, and Mercedes, BMW and Opel for Germany.
6. What type of car do you currently own and why did you choose this particular car?
Steve: I currently own 6 classics (in fact more than 6), and they include the 1974 Mercedes W114 230, 1989 BMW Convertible which is the first model of the straight-six engine, 1918 Maxwell 18, Fiat 600D, Austin 8, 1974 Porsche 911 and 1960 Austin A40.
Some of these cars are just for decoration or display purposes because not all classic cars can be driven on a daily basis. I personally drive a Bentley around and take my classic cars out on various occasions – weekly running sessions or golf once every two weeks. I would rotate the usage of the cars and also take into consideration the distance to be covered before driving the particular classic out. Among the classic cars I own, I do not have a particular favourite as they each hold their own sentimental value.
7. What is the most rare car in your collection?
Steve: That would definitely be the Maxwell, which is the oldest and the most difficult to obtain.
8. What is/are your dream classic car(s)?
Steve: I am looking to buy the Rolls Royce Corniche in the future. I also like the Suzuki Vitara.
9. Tell us more about the most memorable road trip you have taken in one of your cars?
Steve: My most memorable road trip taken would be in my Rolls-Royce Silver Spur in Thailand, as it was the farthest road trip with my cars. It took a 12-hour drive to the southern part of Thailand, Hat Yai, followed by a 15-hour drive to Bangkok. The drive was smooth and my car did not break down despite being a classic. Cars aside, I have even taken several other road trips to Thailand on my motorcycle too!
10. Do you have any tips for aspiring classic car collectors?
Steve: In today’s market, advertisements are really effective in bringing up the car’s value. For aspiring classic car collectors, it is important to ask yourself 3 questions:
- Do you like the car?
- Can you afford the car?
- Do you need the car?
I understand sometimes it is not just a need but a want, as I have seen others who only own the car for a short while and do not mind losing a bit of money.
Address: 31 West Coast Highway #01-16, 33/34 West Coast Car Mart Singapore 117864
Business Hours: 9:00am to 6:00pm (Monday to Saturday) | 11:00am to 6:00pm (Sunday)
Contact Number: +65 6776 1091
Email: [email protected]