Search
Home > Cars & Transportation > Buying & Selling > I am planning to buy a classic car. Are classic cars a smarter alternate for the modern Investor?

I am planning to buy a classic car. Are classic cars a smarter alternate for the modern Investor?

  • Best Answer

    No. I once knew a guy that drove a '53 vette. A Million Dollar car. He didn't care. Now, he might get a Hundred Grand. Not all "classics" are worth  buying.

    Anonymous 2 months ago 1 0
  • Other Answer
  • No. I once knew a guy that drove a '53 vette. A Million Dollar car. He didn't care. Now, he might get a Hundred Grand. Not all "classics" are worth  buying.

    Anonymous 2 months ago 1 0
  • All investments are good if you get them for the right price. All investments are bad if you overpay. In order for a classic car to be a good investment you would either need to be a mechanic or find one super cheap. Basically forget it as an investment unless you are a good mechanic.

    Anonymous 2 months ago 0 0
  • The classic car market can go through sometimes wild cycles.  You may have to wait years to be able to generate a profit ( if any ) on it.  You will also need a proper place to store it and keep it in good condition.  This is assuming you do not drive it.  If you're driving it, now there is additional upkeep and insurance costs to go along with it.

    Jay P 2 months ago 0 0
  • Classic cars, as stated above, are terrible investments. But, are lots of  fun,   conversation starters , an occasional street drag  and an attention    magnet. I suggest 69 Mustang or Camero, 67 GTO, 442, the rare GTX, 68 - 72 Dodge' hemi's, and fully restored ,only set ya back about 60 to 100k. Have fun.

    RAMIT 2 months ago 0 0
  • Show me someone with a classic car worth £50 000, and I’ll show you someone who had spent £75 000 on it.

    F 2 months ago 1 0
  • Investing in classic cars is high dollar gambling!

    There is an adage that goes:

    "If you can't afford to loose, don't play the game!"

    If you drive it, you can wreck it.

    If you don't drive it, you will have to store it and take the chance on fire, rust, and natural disasters making them into large hunks of scrap metal.

    Here is the thing, if you can find a car that is going to be worth a lot in twenty years which you are willing to drive and take care of for twenty years, then maybe you can make some money on it. I knew a guy who bought a 57 T-bird brand new and sold it when he turned 70. He kept it immaculate and always garaged. He did make money on the deal. But the odds of finding a future collectable today brand new for a reasonable price is slim to none. The new Vette is sold out and the price is through the roof. It is no were near the market price that the 56 Vette price was when compared to a family sedan.

    Old Man Dirt 2 months ago 0 0
  • Your a fool if you think investing in cars is a good investment. All you so called investors just stole lots of poormens hobbies. If the car is worth so much why do all you tosser with old dungers want to fight the mechanic for $5 off the bill? If its not road worthy don't drive it on the road is that too much to ask of a dinosaur?

    arther 2 months ago 2 0
  • I've owned several classic cars and I wouldn't consider them a great investment.  Yes they sold for more than I paid for them BUT once you factor in the cost of fixing strange stuff that fails on old cars that aren't driven regularly, the costs of stone chips or damage to anything through use, the cost of insuring a car you rarely drive, the space that car takes up in the garage etc., you don't make that much on the sale later. 

    And as a side note if you do get a classic car, shop for an agreed-value insurance policy through a company who insures classic cars as a specialty.  The agreed value policies I had were FAR cheaper than anything my regular insurer for my daily drivers could offer and I never came close to the mileage limits on any of my agreed-value policies because you simply don't drive a classic car that much if you're hoping to make money off it later anyway.  Good luck.  

    Grandpa Jack 2 months ago 5 0
  • Classic cars are rarely a good investment. It's kind of like online gambling - just a few people make a lot of money and most people lose their butts. My cousin bought a super car, drove it home and put it up on blocks for ten years. He lost a bunch of money because that car did not appreciate.

    The Oracle of Omigod 2 months ago 4 0
  • As an investment?  Do you know what you are doing regarding classic cars?  Do you have somewhere to store it for years?

    I hope you don't mean as a daily driver.

    Anonymous 2 months ago 4 0
Sponsored Ads