These classic cars will pay for themselves
I’ve been thinking about buying a classic car for a while and a lot of research has gone into the cars that I can afford and the cars that I can’t but alongside the grunt and raw driving joy of a classic, I wouldn’t mind a return on investment.
Without a doubt that is the most adult sentence I’ve ever written. Gone are the days where I’d dream of chucking cash at an expensive muscle car, I’m now thinking of the future. Let’s face it, no one really enjoys a car that’s a complete money drain.
In 2015, it was pretty easy to find a decent 944 under £8,000 in the UK. Now, you’re looking at the £10,000-£15,000 mark for a decent example of one of these cars. This shows the popularity of these eighties Porsches and it’s likely we’ll see a steady rise in prices for a little while longer.
If a 944 is out of your price range, look at the 924. It’s only marginally cheaper but just as popular and still steadily increasing in price.
The E-type is many people’s favourite classic and it’s easy to see why with those beautiful lines and iconic profile.
These vary massively in price depending on the age, specs and condition. A top-condition E-type was worth about £70,000 in 2013 but many decent examples are now pushing £100,000. Because of the iconic nature of this car, prices will continue to rise.
A slightly more affordable Jaguar is the MKII. In 2013, these were selling for around £20,000 but are now around the £30,000 price point. Even if you don’t want to buy a car to sell on for a profit in a few years, these make great wedding cars. A Jaguar MKII on the classic car hire site www.BookAclassic.co.uk can make back some of its value through wedding, TV and film bookings.
Aston Martin DB5 Sport Saloon
Another iconic car that just keeps going up in value. In 2011, you could get one of these beautiful cars for £140,000, they’re now worth many hundreds of thousands. That’s a ridiculous return on investment in just seven years.
American Muscle car looks with British heritage. These are still very affordable at around £18,000-£22,000 but in 2011 you could’ve picked one up for around £5,000. It’d be wise to jump on this bandwagon now before the price increases any further.
BMW E46 M3
While not a classic yet, this is a good investment for the future and a fun car for the present. The prices range hugely from around £10,000 up past £20,000. Buying now is probably a good choice, especially if you can find one with low mileage that will stand the test of time. I have to say, I'm very tempted!
What classic cars do you think are a good investment and what future classics would you bet on?