5 Classic Cars to Buy As An Investment
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Loading...Car shoppers and enthusiasts are always on the look-out for fresh concept cars and new production cars that are fitted with the latest technologies and a full suite of features that promote comfort and efficiency. The practice is never surprising- new production cars on the block are brand new, fun to drive around and an investment in itself. But there’s another group of car buyers who see things in a different light.
When it comes to investing in cars, the idea is to look for classic and vintage cars. Classic cars are ‘older vehicles’ that are usually 30 to 39 years old, and are deemed great for restoration and customization jobs than an outright scrapping. This form of investment is starting to gain ground once again after a blip in the 1980s, thanks to an increase in value from 2005 to 2013. Last year, according to the Historic Automobile Group International or HAGI, value of historic cars have increased y 12 percent. So is it time to join the bandwagon and invest in a popular vintage as well? Although classic cars are great to own and drive, it’s still best to research and one step is to know some of the best classic cars to buy as an investment.
1. BMW E30 M3
It was in mid 1980s that BMW issued its first batch of BMW E30 M3, but up until this time this model has continued to charm enthusiasts and industry observers alike. The reasons for liking this model are obvious- the first generation M3 is an all-around vehicle, powered by the 192-horsepower 2.4-liter 4-cylinder engine that can work on the strip or in demanding road conditions. Don’t forget the hip 1980s styling on the E30 that makes it’s a solid choice for car owners who love to fuse performance, dependability and attitude. But be prepared to pay a premium for a classic E30 in the market right now. There’s one reported sale of the E30 for a cool $58,000. Now, are you ready to spend this much for a future classic like BMW E30 M3?
2. Mercedes-Benz 190E
Mercedes-Benz has always been at the forefront of delivering quality and good looking cars for executives and business owners. And the Mercedes-Benz 190E is just one example why the company is one of the best in market. Introduced in 1984, this model is actually a result of the company to provide the market with a compact sedan that’s worthy to be parked in corporate parking lots and get appreciative looks. The design is timeless that can still directly compete with new makes and models, and was fitted with high-end features during its time.
3. Lincoln Continental Convertible
Younger car owners and enthusiasts may think not necessarily come up on their short list when it comes to premium and hip cars to buy and drive. But during the 1960s, the Lincoln brand was one of the best delivering some of the reliable and memorable cars of the decade including the Lincoln Continental Convertible. The convertible was known for rear-fitted suicide car doors, and was a favored presidential service vehicle. Under President Johnson’s administration, a Lincoln convertible is often a popular option that helped boost its popularity among the car-buying public. Today, this classic convertible can be purchased starting from $13,000 to $45,000.
4. Porsche 911 Turbo (930 Generation)
Available from 1975 to 1989, the 930 generation managed to capture the imagination of car collectors and those who love speed and performance. Engines were upgraded for 1978, thus making the production cars of 78 and 79 as the sought-after models by classic car collectors. There were other changes made on this production year including the upgrade made on the car brakes, changes on the spoiler design and the inclusion of an intercooler. In short, the Porsche 911 Turbo was made ‘way cooler’, thus allowing it to land in almost all classic car lists. Do you want to invest in a model that helped made Porsche a household name? Prepare to spend at least $25,000, or cover more than $140,000 for the best ones in the market!
5. Ferrari Testarossa
Ferrari cars are known as pricey investments but they can provide a hefty return as well provide you choose their best production models. Ferrari Testarossa that was introduced for the 1984 production year is an example that packs enough power and performance to rival today’s production cars. The two-door coupe can move from 0 to 100 km/h in just 5.3 seconds, and can reach a top speed of 290 km/h. This model was also featured in ‘Miami Vice’, adding to the popularity of this classic car.
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