'Do it now! They're going up in value massively!' Richard Hammond opens up on classic cars

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He was replying to Good Morning Britain host Adil Ray who claimed he was desperate to get a classic Mercedes. He added he was surprised that buying classics were not as expensive as he first thought with some available for just £10,000.

The Hereford based team has helped to renovate a number of Hammond’s own classics over the years including his Jaguar XK150.

The new company will make their debut at this weekend’s London Classic Car Show in Syon Park.

Mr Hammond said the new venture was about giving something back to the car community.

Many experts have also called for drivers to stock up on classic cars as soon as possible as values are beginning to rise.

Experts at Car and Classic added that even cars around 25 years old are “performing like classics” from a price point of view”.

They added models such as the Nissan Skyline and the Toyota Corolla were perfect examples of cars which have “finished depreciating”

Instead, they warned prices of these models were ”going up very rapidly”.

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