Want to invest in a car but not sure how to go about it? This quick guide should help you in making the right choice.
Consideration A: Choose your brand
Think carefully about the brand and choose prestigious brands to invest in. Values can rise by 257% on some classic cars, but this kind of increase is usually only for certain brands. For example, Bentley, or Aston Martin. Jaguar is another option. Read more about car brands and their history here.
Consideration B: Buying at the right time
Don’t rush out to buy a car which you think will make a good investment. You need to take your time to think what would be the best decision. Remember, a car is worth a lot of money and you want to get it right. Equally, there’s not always a certain science to this sort of investment, and sometimes it just has to ‘feel right.’
Take the Aston Vanquish, for example. If you bought this car in 2008, you would know it was at its lowest value. Now, it seems to be worth a lot more. Buying at the right time plays a big part in getting the investment right.
Consideration C: Get a car which is limited in its numbers
It goes without saying; when there is less of something, more people want it, and its value creeps up. If there are only 100 of a certain car built, you know it is likely to become a classic. That said, it can be hard to stump up the cash for the car in the first place. You need to sign up to car forums and sites and try to be ahead of the crowd, so you know what cars are about to hit the market. Take a look at the most expensive limited numbered cars on this site.
Consideration D: Cars that have been on the big screen
If a car has been on TV or a certain film – like James Bond’s Aston Martin DB5, for example, people are going to want it. Look out for the blockbusters and see what cars they have on the screen. You will probably find it is expensive enough already, but if you’re serious enough about investing, you’ll know it is worthwhile as you’ll get a great return in a few years.
Consideration E: Do a rusty old car up
Some older cars need to go to the scrap heap – but there are occasionally, and we mean occasionally, some rough diamonds out there. If you find a friend has an old car in his garage and he wants to sell it, you might be wise to buy it and do it up. A recent example of this is when an Aston Martin DB5 which was old and rusty sold for £1,500 in 1972, and then sold recently for £320,700 after it was done up. Jackpot!
Read some more tips of getting the right investment here. Good luck with finding the right car for you!