Thursday, December 31st, 2009

are antique cars a good investment?

If so, what would be a good choice for under $100,000. ?

Compared to other investments, no. People do make money buying and selling classic and antique cars, it’s true, but many more people become "collectors" when their costs for upkeep, insurance, operation and exhibition exceed the appreciation their cars have in the open market. It takes a shrewd eye for cars, an encyclopedic knowledge of a marque, a lot of money, and long term dedication to break even in antique cars. If you’re thinking of doing restoration, it also takes sweat, luck, and market timing skills to succeed.

Treasury bonds are investments; anything with 4 wheels that you only drive for fun, is generally a hobby.

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6 Responses to “are antique cars a good investment?”

Ms Mysterious <3 Says:
January 1st, 2010 at 12:18 am

Cars are never a good investment because as soon as you drive them out of the showroom, they decrease in value.

HOWEVER

If you were to buy a car and keep it in pristine condition for a long period of time, the car should surely increase in value. If you were to do this, it would have to be a classic car like a Ferrari or something as your average Toyota Camry or something is not going to be worth much as there are thousands of them!

You would not be able to buy an antique car for under $100,000…

I would suggest watching some documentrys or googling some cars to see prices…
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PAULSC Says:
January 1st, 2010 at 12:28 am

Compared to other investments, no. People do make money buying and selling classic and antique cars, it’s true, but many more people become "collectors" when their costs for upkeep, insurance, operation and exhibition exceed the appreciation their cars have in the open market. It takes a shrewd eye for cars, an encyclopedic knowledge of a marque, a lot of money, and long term dedication to break even in antique cars. If you’re thinking of doing restoration, it also takes sweat, luck, and market timing skills to succeed.

Treasury bonds are investments; anything with 4 wheels that you only drive for fun, is generally a hobby.
References :

Joshua R Says:
January 1st, 2010 at 12:55 am

I would recommend the ‘66 Chevy impala SS Coupe. I have one and I love it. I got it for free and put around $12,000 into it and have offers up to $75,000. There where only 49 made and only 15 running and (by estimating) 10-14 able to still be restored. If you can find a true SS Coupe with the rear side flares get it. Almost all vintage cars are worth a lot. The Bel-Air is the most popular one to restore.
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slicnic0131 Says:
January 1st, 2010 at 1:16 am

absolutely, more popular older cars APPRECIATE in value. once they hit 25 years old, they are an antique and when demand goes up then so does the price. if you can find a Shelby AC Cobra roadster for under 100k (and im sure you can) then go for it. When Carroll Shelby does pass away (god rest his soul and hopefully he lives another hundred years) his cars will absolutely go up in value.
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LeAnne Says:
January 1st, 2010 at 1:21 am

Antique cars are much like the stock market - you try to buy low and sell high. You must keep abreast of the market and know what’s hot and what’s not - just because a car may be old, and even rare, doesn’t necessarily mean it’s going to bring the big bucks - if no body wants it, it isn’t worth much.
Condition, matching numbers and originality are absolutely paramount if you’re buying for an investment.
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mekhanic7 Says:
January 1st, 2010 at 2:01 am

YES, AND IF YOU CAN FIND ONE GO WITH A 70 CUDA,64 G.T.O OR A 63 SPLIT WINDOW CORVETTE AND MAKE SURE THE CAR IS ALL ORIGINAL, I HAD A 78 SILVER ANNIVERSERY CORVETTE WITH 77 ORIGINAL MILES AND THE VALUE DROPPED BECAUSE I INSTALLED A NEW ALTERNATOR. IF THE NUMBERS DON’T MATCH ON ALL PARTS,THEN YOU LOOSE.GOOD LUCK!!!!!!!
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