As long as it meets the collectors vehicle criteria, including no rust, no body damage, no rips or stains in the interior etc.
And only certain aftermarket parts are allowed.
If it passes the above and it's >=25 years old, then I don't see why not.
Collectors plates aren't limited to vintage exotics or other expensive old cars. I saw an old Toyota Corona with collectors plates - except it had dented bumpers, faded paint and some rust. The owner must have gotten the collectors plates and used it as a beater
