Club reg process was great and very easy.
Car needs to be over 25 years old and you need to be a member of an approved car club (BMW CCV).
The car needs to be 'roadworthy' but does not need an official VicRoads RWC - it has to be inspected by the club's qualified scrutineer who fills in the application sheet. Take that, receipt of ownership and $130 to VicRoads - and they hand over the permit logbook and plates. No inspection etc - really easy.
Providing the club signs off on it - the car can be modified and/or LHD.
Hellooo E30 M3 for my 40th
To get the BMW on full reg would have cost about $1,300 ($250 stamp, $670 rego, $300 RWC, $35 transfer fee, $47 plates etc) - so paying $130 all in is amazing value.
I did all this in 3 hrs which included a drive from Melbourne to Hastings (where the BMW Club guy is), and back via Frankston VicRoads. Less work than getting real rego.
You are only allowed to drive a max of 90 days a year and as such the logbook has only 90 entries in it. You need to be 'logged' everywhere you go unless you are 'within 100m of the car's garaged address' - ie: to move it around on the street.
The onus is on the club to ensure people are not abusing the system - and if you are caught driving without the logbook filled in etc it is considered the same as driving an unregistered vehicle. The club gets notified too - so you may be expelled.
Sounds ominous - but as the 5er is pretty much a weekender and most weekends have swimming lessons, shopping errands, park visits, play dates, home jobs etc - to actually have 90 days where I can drive the car is going to be less likely than running out of room in the book!
Plus the club plates look cool