Classic vehicles could be a great option if you are looking for a fun and profitable investment. For car enthusiasts, purchasing classic cars for sale is not only a great hobby, but it can also be a great way to invest money and preserve history.
Classic cars, for the most part, appreciate pretty well. For this particular type of purchase, aging is not a bad thing. Age only helps the value of the classic car. The best part is you can drive this investment and actually enjoy it. This is far different from traditional stocks or mutual funds.
If you are new to the world of classic cars, you want to research and learn all you can about the market before investing. A great place to start is with the best investment lists. These lists are released each year and help inform car enthusiasts of what vehicles have a good chance of appreciating the most over the next few years.
Vehicle experts say that if you buy a fun car while it is on its way up in value, you will get the best of both worlds. It’s an exciting car that you can enjoy and is also an excellent investment.
So, join Sonic Bidder and take a look at a few of the vehicles experts recommend for investment in 2023.
1992-2006 AM General Hummer H1
The value of this vehicle is on the rise. The reason: Gen X. This vehicle reached the height of its popularity when this generation was entering adulthood. Despite its less-than-ideal fuel economy, the Hummer has continued to inspire car enthusiasts with its massive presence. Those looking to purchase this vehicle should be aware of fuel economy issues and manage fuel wisely.
Valuation: $105,000- $127,000
1968-1970 AMC AMX
This sleek two-seat AMX is underappreciated, but experts expect that to change soon. If insurance quotes are any indication, this vehicle should be showing increased value in collectors’ markets in the near future. Interest has risen from 13% to 38% for insurance quotes.
Valuation: $30,500- $40,600
2008-2015 Audi R8 Manual
This unique vehicle has endured among collectors. Car enthusiasts love the R8’s manual transmission, reminiscent of Ferraris and Lamborghinis. In the last five years, insurance policies for this vehicle have risen three times faster than expected. Values have increased 37% just since 2019.
Valuation: $154,000- $186,700
2001-2004 Chevrolet Corvette Z06
Although this vehicle does not always garner much attention from the world of serious collectors, the fifth-generation Corvette Z06 is a great investment and a perfect vehicle to drive every day. This is an excellent option for investors who want to enjoy their classic car. Valuations for this vehicle have tripled since 2021, with purchasing interest lying heavily with Gen X, millennials, and Boomers alike.
Valuation: $31,400- $39,300
2001-2010 Lamborghini Murcielago
Lambos have historically been a great investment in the world of classic cars, but today this vehicle is hotter than ever. Values are up almost 48% just since 2019. Owners are younger, which is always an indication that values will rise in the near future.
Valuation: $302,700- $342,700
2004-2010 Mercedes-Benz SLR McLaren
The McLaren has held a spot in the hearts of classic car collectors for decades. Still, today the interest in the vehicle has risen by 37% in the last three years alone, but it does continue to pull less value than some of the other high-end luxury collector vehicles.
2003-2008 Nissan 350Z
The speed of this car is not the only thing that’s fast. Collectors are enjoying immediate appreciation as well. Values have increased by 78% since 2021. That is the largest increase for any Z in a while.
Valuation: $37,500- $44,900
1985-1993 Saab 900 Turbo
If you are looking for something a bit different, The Saab 900 Turbo could be exactly what you are looking for. The ownership of these vehicles has gone from 7% to 22% in the last three years. This is a strong signal that the appreciation values of this vehicle will increase significantly in the near future.
1991-1998 Suzuki Cappuccino
If you are looking for a cute roadster to invest in, look no further. This small body car resembles the Honda Beat but is two feet shorter than a Miata. These little investments are often owned by Millennial and Gen Z owners. This indicates the future values for this car are bright.
Valuation: $12,200- $16,700
1984-1988 Toyota Pickup 4×4
Changing gears a bit, let’s look at a truck with classic car investment potential in 2023, the Toyota Pickup. This second-generation pickup has seen impressive increases in insurance quotes in the last five years, indicating an uptick in value.
Things to Consider Before Buying a Classic Car
If you are new to the world of classic cars, you should understand that there is more to classic vehicle ownership than simply figuring out which vehicle will have the best appreciation over time. Ask yourself these important questions before buying.
How will the car be used? Do you intend to drive the vehicle or simply keep it for show?
What is my budget? If you have a budget in mind, be sure to factor in all the expenses included in the vehicle’s purchase and upkeep.
Am I willing to maintain the car properly? Classic vehicle maintenance is different than regular maintenance. You should know exactly how to care for the vehicle before purchasing it. Contact us today to learn more!