Classic cars are perhaps the most valuable vehicles in the automotive world. Some may not be priced as high as your present-day Lamborghini, but their values are nonetheless very alluring. If you are planning to start a collection of mean machines, you might want to think about collecting classic cars.
And if you are planning on buying second-hand vehicles, you might as well buy vintage cars. Of course, put into consideration the fact that you may possibly need a great deal of work to do: from paint to upholstery to engine to brakes and suspensions. It’s a bit troublesome, but it is worth it in the long run. Just take a look at what you will get when you own or collect classic cars:
1. Vintage Cars are Cheap
There are many people who don’t know what the value of their car is. It is no wonder that you can sometimes find a fine Dodge Charger lying in a junkyard, or a Cadillac Fleetwood rotting in an old garage. Because these cars are rusting away and considered as junk by some people, you can easily buy them at an absurdly low price.
An ill-maintained ’60s Cadillac Fleetwood sells for around $2,000 in used car shops. You can find cheaper ones in online car auctions, some even going lower than a thousand dollars! Sure, you will probably dish out a few more bucks in restoring the car back into fighting condition, but it WILL surely be worth it, simply because it will increase in value tenfold.
2. Classic Car Values Appreciate
If you buy a brand new car, expect its value to depreciate as each year passes. A brand-new ’07 Jaguar XKR sells for around $92,000. Listings on XKRs that were used for a year varies from $85,000-$89,000. That’s 7% depreciation in just a year.
Now compare that to a fully restored, fully functioning ’61 Jaguar XKE: a ’61 XKE that has a mileage of 10,000-12,000 mi sells for a screaming $80,000-$100,000! And because you can buy an abused and ill-maintained XKE at a significantly lower price, you will be sure to profit, profit, profit.
3. A Better Relationship with Your Car
Because you’ll be spending so much time in your garage, you’ll get to know your car pretty well. And there’s nothing like pouring all those time, money, and sweat onto creating a monster machine. After you’ve done restoring, you will undeniably have a better relationship with your car. And that will be a relationship that’s far better than when you simply buy an expensive one.
4. You Will Have New Friends
Once you pull in that classic to your garage, unknown neighbors will probably sneak up on you and introduce themselves. They might even give unsolicited advice. And since car collectors are such a small circle, you will probably have no problem in finding fellow car enthusiasts.
5. You Will Have a Cool Ride!
And of course, the most rewarding part when it comes to owning and collecting classic cars is that you get to have a cool ride. After you have finished restoring your classic car, you will probably find yourself in celebrity status. And because a vintage car is less threatening than a new one, you’ll attract curious people. Some will drive beside you, roll down their windows, and ask something like what the make of the car is and what year it was manufactured.
Restoring an old car into near perfect condition may be a lot of hard work, but consider these advantages and you will find that it’s worth it. You can buy vintage vehicles cheap and sell them expensive. You’ll have a better relationship with your car, new friends, and best of all, sport a very sweet and sexy ride. So what are you waiting for? Go own and collect classic cars now!