Depreciation is part and parcel of modern car ownership and we’re all used to losing money when it comes to selling a car. If you opt for a classic, though, you could well find yourself with an appreciating asset.
Some classic Ferraris have appreciated faster than property and one investor who bought a 275 GTS in 2004 for £142,000 managed to sell the same car for £1.17 million last year. The McLaren F1 cost £635,000 when new, now they sell for more than £11 million. So a classic can be the best investment you can ever make, and you don’t need to go into the rarefied atmosphere of the supercar world to make money.
There’s no guarantee of which will be the next flavour of the month, Porsche’s original RS models have recently stormed from £200,000 to more than £1 million for the most sought after cars, but you can read around and take an educated guess. Limited editions, cars with a racing pedigree and even clean examples of great cars, such as BMW’s E30 could go on to become seriously valuable in the years ahead. Even Honda’s S2000 has been tipped as a car that will make money in the years ahead.
If you’re buying a classic car as an investment then it’s best to get a car you actually love, too, just in case it doesn’t turn into a goldmine. That said, read around the subject, look at future classic articles and you’ll be able to narrow down your search to a car you like that is destined to make money too. Then make sure you get a car with a perfect service history, as close to the original as possible and make sure the car was respected in its day.
None of this guarantees you’ll make a fortune, but you will get to enjoy a stunning car and if you buy smart then you might even sell it for a profit when you’re done.