A Car loses much of its value the moment you drive it off the dealer’s Car lot. After one year of owning a vehicle, it has lost 40% of its value. By the end of its third year and 10,000 miles, your vehicle will have lost around 60% of its value. Although many people claim buying a new Car is a great investment, purchasing a brand-new vehicle is the opposite. Yet, there are certain vehicle purchases that are great investments.
Why invest in Classic Cars?
Investing in Classic Cars is not only a fun hobby, but a great place to put your money. Plenty of wealthy individuals invest in items to grow their portfolio as a hobby. Wine and whiskey are two popular hobbies/investments wealthy persons plow money into. Yet, these investments are easily lost. A broken bottle erases the investment you have made. While uncorking a bottle of wine and enjoying it for dinner does the very same. However, Classic Car investments are not lost in the same ways.
Classic Cars do not simply sit in a garage under a sheet. Automobiles can still be driven and enjoyed by those who invest in them. Sure, you may still need to put money into your Classic Car to keep it running, but those upgrades and modifications only increase the investment you have made. You should be able to recoup the money when you sell the Car – if you do.
There are Classic Car collectors who buy classic automobiles to place in their private garages. Yet, there are many more collectors that enjoy getting behind the wheel. Many Classic Car collectors are automobile enthusiasts. They invest their money into something they love. Unlike buying stocks or properties, you can physically touch an automobile and experience it. Collectors also participate in Car festivals. This is another way in which Classic Car investors get the most out of their purchases.
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