Making a classic car investment!

[ExcuseMyIgnorance]

I watch shows on TV that make investing in classic cars look easy. Now, I don't have the money for a Ferrari but what about investing in something less costly - perhaps an old Datsun or something. Would it be wise? I think I may buy a few and store them at my parents' farm. Does anyone else do this? Got any tips?

[rennigade]

Yep...everyone here buys classic cars as an investment. Everyone I tell you.

[riverwed070707]

Yep...everyone here buys classic cars as an investment. Everyone I tell you.

Agree. Cars are historically appreciating assets that add a lot of value to your overall portfolio

[disneysteve]

Agree. Cars are historically appreciating assets that add a lot of value to your overall portfolio

I realize OP is a troll or spammer or both, but since the topic is open, IF you actually know what you're doing, buying a classic car can be a decent investment, just like any other collectible or art item. I know very little about them personally but my cousin owns 2 classic cars (a 55 Pontiac Safari and a 60 Vette). He didn't buy them as investments but they are worth way more today than what he paid for them. Since I'm the sole beneficiary of his estate, someday they may belong to me (not anytime soon hopefully). If and when that happens, I will turn around and sell them because I'm just not a car guy but they will represent a nice inheritance.

So OP, as with any investment, you need to invest in what you know. Are you an expert on classic cars? If so, you probably know what to look for. If not, stay away.

[97guns]

i have a '72 el camino that i picked up for $6000 last summer, it hasnt gone up but im sure i can get my money back out of it.

[feh]

Classic cars are a great way to make money - for the restoration shops that work on them.

[corn18]

Classic cars are a great way to make money - for the restoration shops that work on them.

And the auction houses that sell them. I have a classic car (1980 MGB Limited Edition). I paid $10,500 for it in great condition. It was worth $10,500 when I bought it. After paying tax, tags, title and some additional restoration work I have done, I am into it for $12,400. It's now worth $10,500. So in my case, I suck at classic cars as an investment. From the other classic car folks I hang around with, it's a similar story. But the classic car folks I hang around with do it for the enjoyment of restoring and driving classic cars. Haven't met one that thought they would make money.

That being said, if you know what you're doing and do it strictly as an investment, you could make money.

[disneysteve]

the classic car folks I hang around with do it for the enjoyment of restoring and driving classic cars. Haven't met one that thought they would make money.

Same here. All the guys I know love their cars, love working on their cars, and it isn't about the money at all.

Still, a well-restored classic can be worth way more than the money put into it.

[creditcardfree]

My brother in law has a 'classic muscle car' (sorry I don't know which one). It was stolen over 25 years ago stripped of it's parts and eventually it was found and returned to him by the police. It has been sitting in his garage up until the last year. He is finally making enough money to turn it into a dream car...some crazy horsepower engine...all sorts of bells and whistles. Apparently will be worth over $100K when complete. He plans to take it to shows...by trailer I assume. His wife said he's considering it an investment and something she can sell when he dies (he is 15+ years older than her).

It's hard to fathom, but he seems to be barter a lot of the labor. It will be interesting to see how it works out.

[ExcuseMyIgnorance]

I think I'll stand down. I can wrench on cars pretty well but at the end of the day, it will take tons of hours to source cars/parts and do the (inevitable) labor.

I'd be interested to see if anyone has actually broken down how profitable their car investments have been - taking everything into account like time, labor, etc.

So many people brag about buying a car for $500 and 50 years later selling it for $30,000 but who cares if you put $29,500 into it.

[97guns]

i didnt buy my el camino for an investment, i bought it to get away from smogging and the enormous dmv fees with a new vehicle.