Brokers: Time to Re-Price Those Classic Car Values

Let’s start with a basic truth; if you invest in classic cars to make money, prepare for poverty.

You buy them because you love old cars and the social scene that goes with it. That said, insurers and brokers are re-valuing many classics right now as owners discover huge demand online for classic vehicles. The pandemic has given people more time at home, and reduced the need to commute five days a week. That makes owning and fettling a classic car a practical proposition for many people across the UK.

Vanarama has sent us some estimates on classics that have risen in value rapidly over the last ten years, here’s a table;

Top 10 Affordable Classic Cars to Invest in for a Profit

Classic Car

Avg. Purchase Price

Avg. Value of Car After 10 Years

Avg. Profit

1. 1961 Volvo P1800

£7,611

£29,180

+£21,569

2. 1983 Land Rover Defender 110

£13,697

£29,161

+£15,464

3. 1972 Volkswagen Beetle

£6,548

£16,833

+£10,285

4. 1968 Ford Mustang GT 

£14,759

£24,643

+£9,884

5. 1968 Datsun 510

£6,158

£14,293

+£8,135

6. 1981 Mazda RX-7

£3,187

£10,815

+£7,628

7. 1968 Fiat 124 Spider

£8,482

£15,360

+£6,878

8. 1984 Toyota Supra

£5,035

£10,035

+£5,000

9. 1976 Alfa Romeo GTV

£6,158

£11,123

+£4,965

10. 1977 Porsche 924

£6,743

£10,328

+£3,583

 

Of course that’s just historical values. IE spoke to a guy called Roger at the British Motor Show who had a beautiful Daimler Dart V8 sports car. Long restoration job and the level of perfection and originality can affect the value of the car too. Then there are factors like celebrity owership. For example if Steve McQueen, Princess Di or Aryton Senna once owned the car or motorcycle, then you can add another 50K to the value – maybe. Depends on the auction crowd.

IE did some research and found out which classic cars are reasonably affordable, fun to own, have decent spares supply and offer some extra value in the future when it comes to selling them on.

Here’s our top five rising value classic cars, which are still affordable right now;

  1. BMW 325i – three litre engine, convertible variants, plus lots still around with under 70K on the clock at £8000.
  2. VW Golf GTi Diesel – this is truly cheap classic motoring, 130mph, 40mpg, cheap parts too – plenty still around for 5K or less.
  3. Mercedes S Class 320 – You can buy a luxury limo for £1000. Yes, it will cost a fortune to run, but for sunny Sundays, why not?
  4. Jaguar XF 2.7 diesel – Great value, you can buy a project for 2K. Cheap to run, so a classic you can use and enjoy.
  5. Toyota MR2 VVT – mint early 90s MR2 models are worth 10K now but an early 2000s 1.8 model can be had for £2500.

Enjoy what’s left of the good weather classic fans.

 

About alastair walker 6830 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

Be the first to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.