Buying an old car can be the most fun investment you can make.
For starters, a classic car is toy for adults. It was made for an era that’s now outdated and was designed for much different motoring conditions.
Most importantly it could empty your bank account FAST if you’re not wise.
But these risks haven’t stopped so many investors from scooping them up. It doesn’t make sense… or does it?
These reasons seem like enough to keep anyone in their right mind away but now is the perfect time to consider investing in classic cars.
A Growing Trend
Classic cars are gaining a great deal of attention. Their returns over the past decade are outpacing wine and art by more than 100%. That’s an unusually great return on a once thought ‘hobby’.
Many car collectors don’t always see old classic cars as investments, they see it as more of a passion. They would tell you about the excitement of owning and driving their ride. They would also share with you that it’s a major financial commitment to purchase and own one.
Purchasing a rare classic isn’t cheap. Restoring one isn’t cheap either. But if you play your cards right, you might strike gold! And that’s what some people are doing right this minute.
Whoever said all old cars have value has no clue what they are talking about. There are a lot of old cars out there that are worth the weight of metal. That’s it.
More and more investors (some actually don’t care about cars at all!) are flocking to auctions and garages to find themselves a classic worth investing it.
Keep in mind just because it’s old doesn’t make it a collectible. And if it has value today doesn’t mean it will have value 10 years from now.
If your goal is to go out an starting buying and selling old cars, don’t be so fast to do so. Not every car is a winner so don’t be shocked if you lose BIG.
5 Classic Cars That are Worth the Investment
A few of these cool old cars listed below are pretty obvious. They are the type of vehicle that make collectors drool. They are known for simple design and raw power.
Values of classic cars are like that of any other collectible. The value changes constantly so it’s important to realize that what might seem like a good investment today could end up being a huge mistake tomorrow.
The same strategies need to be understood about investing in a car as you would the stock market. It’s unpredictable and predictable at the same time.
As this was being written here are 5 classic cars that are worth the investment:
1) 1970 – 1972 Dodge Challenger
This muscle car is hotter than it’s ever been thanks to it’s most recent updated model. It’s slick looks and high-performance power brings this contender to the top of the list.
Very few of these cars were made and even fewer have survived the test of time. Any Challenger is worth a substantial amount of money.
And the price of $50,000 or less for this classic, this isn’t that bad of a choice for an investment.
2) 1970 Plymouth Superbird
Despite its strange looks, this car is STILL sought-after today.
This car was designed to conquer NASCAR with a design so strange that it was never expected to be sold in large numbers. Only 2,000 of these were sold.
This beast of a car came from the factory with a giant wing on the back and an unusually long wheelbase. What makes this car so ridiculous is also what makes it so unique.
Its interesting design and limited production make this car the perfect collectible.
Hagerty shows the value of this car going up even more soon.
3) 1966 – 1977 Ford Bronco
These rugged SUVs are becoming more popular amount younger enthusiasts.
Values have been on the rise for a few years now and don’t seem to be slowing down anytime soon.
Priced under $20,000 it’s an easy decision to make if you like the classic boxy stature of this workhorse.
4) Ferrari 308 GTB
This is the car that the show Magnum, P.I. used in the 1980s. It gained fame from being the nimble, high-revving engine with an intimidating sound.
Unfortunately, a cheap Ferrari doesn’t exist but it’s not out of the question for many.
You can expect to find this car selling anywhere from $50,000 to $300,000.
So if you want to own a Ferrari, now might be a good time to snag this one before its value jumps again.
5) 1951 – 1963 Volkswagen Samba
This version of the classic Microbus can be valuable.
Some have been selling at auction for more than $100,000.
It’s still possible to snag the 23-window versions for around $15,000 but it will need a major overhaul.
If you have the skills and the time, it could be a very smart investment if done right.
The Time to Invest is Now
Classic car prices have skyrocketed in the past decade or so. Many popular models have doubled in value in such a short period of time. But before you throw down some money on any classic, you need to know what you’re doing and what you’re buying before you commit.
The whole point of an investment is to get a return on your money down the road. Just because there is a big parking lot full of fully restored classics doesn’t mean that any of them are worth investing in.
The idea is to look for classic and vintage cars that have potential and are considered to be trending.
Nearly all classic cars will need some work done on it for it to get a bigger return on your investment. It’s also a good idea to learn a thing or two about auto repairs.
If you’re looking to invest in a particular classic, you need to visit us today! We’ve got dozens of manuals and resources to help with your project.
