What Are The Best Classic Cars for Investment?
(Image by Sicnag via CC BY-SA 2.0)
I was talking to a friend about ideas for the best classic cars for investment and one phrase came to mind: Starsky and Hutch! (God, I love that show.)
Starsky and Hutch was a TV cop show that aired for four seasons from 1975 to 1979.
The most famous aspect of the show was that two cops fought crime, sometimes undercover, while driving around in a bright red Ford Gran Torino.
A red car with a white vector stripe extending from the roof to the sides of the vehicle no less. Anyway, that car become an icon for fans of the show.
If I were to invest in a classic car, as an investment to perhaps sell to a collector, it would be to buy a 1974 to 1976 Ford Gran Torino. Several Ford models from those years were used on the show. But still, before you buy any classic car – be sure to check the car history before buying!
My Classic Car Investment Ambitions
The average price of a new car is about $36,000. However, investing in a classic car, an investment item for possible resale, can be optimized by investing in strategically frugal and available resources.
I found a Ford Gran Torino for sale for $5,500.
Still, I would have to pay for restoration, remodeling, and mechanical updating. I would have to pay tens of thousands, or more, to get it looking like the classic car from the TV show. (Well, you can’t say, “investment,” without, “invest,” now, can you?)
Still, a fully restored 1976 Ford Gran Torino, styled after the TV show, is now worth $100,000.
Do you have ambitions to invest in a classic car? Here are some affordable options for you to consider.
These are very affordable classic cars available now that might become more valuable to collectors in the future due to rarity and potential enthusiast appeal.
A classic or vintage car is at least 20 to 45 years old in terms of model year.
1965 Ford Thunderbird
There were only 100,000 units of the 1965 Thunderbird manufactured. The car was infamously featured in the 1964 James Bond film Goldfinger.
The standard version comes with a 300HP, 390 cubic inch V8 engine. You could source one to work on for as low as $7,000.
Ford Fairlane 500 Skyliner
(Image by Greg Gjerdingen via CC BY 2.0)
This car is the second-generation model of the Ford Fairlane produced between 1955 to 1959. The Ford Fairlane was produced as the affordable alternative to the popular Chevrolet Bel Air of the era.
Additionally, the 500 Skyliner is now rarer than the first generation Fairlane. It’s also the convertible version of the Fairline.
You can find one for around $16,000. There are cheaper models out there, but they are basically just hulks good for parts that may need to be completely rebuilt.
1987 Chevrolet Camaro IROC-Z (T-top models)
When Bruce Springsteen sang, “We got rock and roll music blasting off the T-top,” in “Darlington County,” this is the car he was referencing.
Although the IROC-Z was issued in 1985, the general T-top Camaro models were a car fashion staple of the 1980s.
Your ability to make this car a worthwhile investment depends on networking with 1980s car enthusiasts. You can find a base model to work on for as low as $4,000.
Network, Network, Network
An ultra-rare 1935 Duesenberg SSJ, once owned by Gary Cooper, sold for $22 million in 2018.
However, one of the Ford Gran Torino vehicles featured on Starsky and Hutch only sold for $40,000 in 2014. So, curb your enthusiasm accordingly.
Just because you made a classic car into an investment doesn’t means it will sell itself. Network with classic car enthusiasts. Visit car collector shows. Learn how the system works.
Your ability to get the most return on your investment depends on finding the right classic car collecting enthusiast.
Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business