In high school, muscle cars adorned your bedroom walls. And your college dorm walls were no stranger to them, either. Now, you’re interested in getting them into your garage.
Like many vintage car lovers, you love working on and simply staring at your favorite classic wheels. But like many savvy investors, you also realize that vintage cars are more than just eye candy: They can be your next cash cow, too.
Many car-loving investors over the years have made vintage cars valuable parts of their investment portfolios. And now couldn’t be a better time for you to hop on the bandwagon and add these valuable, rare objects to your portfolio as well. However, before you start buying vintage cars, it’s critical that you understand how to go about investing in classic cars correctly.
Here’s a rundown on everything you need to know about buying vintage cars in 2022.
Demand for Investing in Classic Cars
An increasing number of investors are considering investing in classic cars versus pursuing traditional bond or stock investments. Why? Because of the huge profit potential associated with vintage cars, which have generally increased in value during the past couple of decades.
Of course, even if you end up not making a major profit on the sale of a classic car, you can still enjoy the thrill of owning your own timeless old-school beauty. And you can even pass it down to the next generation of car aficionados in your family.
The great news about buying vintage cars is that it’s not something that only wealthy investors can do. For instance, all it takes is between $20,000 and $30,000 to snap up a 1965 Mustang. However, if you’re just getting started with investing in classic cars, you’ll want to do your due diligence every step of the way.
For instance, avoid cars that have been involved in accidents. Or, if you fall in love with a ride that has been damaged at some point, make certain that it was restored properly. To protect your best interests as you shop, consider hiring a consultant or certified appraiser to give you feedback regarding a possible purchase. Also, track the classic car investing market, as this market evolves with time. Cars with high price tags today may end up dipping tomorrow, and vice versa.
What to Look for When Investing in Classic Cars
Before you begin investing in classic cars, note that your target cars should date back 15-25 years and possess qualities that make them intriguing to collect. These qualities might range from a limited production run to an unusual design. The rarer a car is, the greater its value will likely be.
For instance, you may fall in love with a car featuring a strong racing history. Alternatively, look for cars that have historical importance—for instance, those that raised the standard for exceeding consumers’ expectations, or one that pioneered brand-new technology.
Other qualities that make cars more alluring include being associated with respected designers, builders, or racers (think Carroll Shelby or Raymond Loewy). Any classic car that a celebrity previously owned is also collectible, particularly if those celebrities are in the ranks of James Garner, Steve McQueen, or Paul Newman, for example.
As you begin your foray into vintage car investing, it’s paramount that you weigh all of your potential deals independently before you complete a transaction. Ideally, your chosen vintage car should meet your budget, be in great shape, and offer a robust resale value. Keep in mind, though, that any car that is over 100 years old is not considered to be a classic car; instead, it falls under the “antique” category.
Top Cars to Choose When Investing in Classic Cars
If you’re looking for one of the best buys when investing in classic cars, you generally can’t go wrong with a Ferrari vehicle, such as a 1962 250 GTO from Ferrari. A handful of these iconic vehicles have been sold for tens of millions of dollars during the past few years.
Another excellent investment option is the gorgeous 57SC Atlantic from Bugatti. Or, consider the 1954 W196 Silver Arrow from Mercedes-Benz. These vehicles can easily be worth tens of millions of dollars as well.
Investing in and Shipping Classic Cars
If you end up discovering a classic car you can’t pass up but it’s in a distant location, you can easily utilize vintage car transport services to bring your dream vehicle to you. With reputable services, you can have your vehicle inspected in detail and then take advantage of customized loading. Make sure that your transportation service provider also takes photos of your vehicle upon pickup, before packing, and following packing. In this way, you can track its condition at every stage of the shipping process.
Experience the Benefits of Trans Global Auto Logistics Today!
At Trans Global Auto Logistics, we realize that vintage cars, like art, can be incredible investments for two reasons. First, you can enjoy them aesthetically long term. And second, they provide a welcome currency hedge, as you can easily transport them across boards with agreeable exchange rates. That’s why we’re excited to offer vintage car transport services for your favorite new “old” ride.
As a leading freight forwarder, we take pride in being fully licensed and bonded, and we are committed to providing you with top-tier service every time. We have more than 30 years’ experience that we are ready to put to work for you and your vintage car.
Contact us to learn more about our services and tap into our services today!