Future Classic Cars

foxy-stoat

caprikid1 wrote: »

If you buy a good car only have classic car insurance and buy the right car plus FREE Storage it can be done. I appreciate there is no such thing as totally free storage but you know what I mean.

Agreed - but if your talking investment of say 10 years, maybe more. You need to be able to have £10,000 say tide up for that time, you either take the view that you store it for a decade and when your ready to sell sort out any and all issues with leaving the car for that long, and have a 10 year hole in the servicing/MOT record for that time or keep it running and MOT it very year, service it also, doesnt matter if you do 50 miles a year it will need to be serviced if you want to drive it, and sell when you think the value has gone up enough.

Assuming you have a garage at your house so storage would be free - it would probably cost £500 a year for insurance, MOT, minimal servicing and hope nothing major is required. So you need to sell it for £20,000 to make it worth while.

Can be done but I would put my money somewhere else - unless your going to drive and enjoy it at the weekend of course in which case you should be able to own it and get good use from it for free if you can sell it for enough.

Cars that spring to mind that I could of bought ( 10-15 years ago ) Audi UR Quattro, Sierra Cosworth, Lancia Delta Integrale, E30 M3, Lotus Carlton, Mercedes Cosworth.....cars now RS4, RS6, Defenders seem to fetch good money for some reason, Merc G Wagon, R32 Golf, Alfa GTA's seem to be going up, mint MK2 MR2 low mileage maybe worth a cheap punt, Toyota Supra MK4 have doubled in the last 5 years.

caprikid1

speaking from experience if you have to pay for storage it will not go up more than it costs unless you are buying something rare and exotic.


If you store it outside you need to drive it regularly to keep everything working, if you drive it frequently then you rack up the miles and devalue it.

foxy-stoat

I hear good things about the RX8-TF- PT or whatever letters they put after it that makes it go round corners.

caprikid1

I agree on your costs and at best you get to own and enjoy a car effectively for free.


I think my 2.8 Capri would be worth around £12,000
Cost of buying £2400
Cost of running over 15 years around £6000.


Smile every time I pull the covers off and drive it aware.....


Priceless

foxy-stoat wrote: »

Agreed - but if your talking investment of say 10 years, maybe more. You need to be able to have £10,000 say tide up for that time, you either take the view that you store it for a decade and when your ready to sell sort out any and all issues with leaving the car for that long, and have a 10 year hole in the servicing/MOT record for that time or keep it running and MOT it very year, service it also, doesnt matter if you do 50 miles a year it will need to be serviced if you want to drive it, and sell when you think the value has gone up enough.

Assuming you have a garage at your house so storage would be free - it would probably cost £500 a year for insurance, MOT, minimal servicing and hope nothing major is required. So you need to sell it for £20,000 to make it worth while.

Can be done but I would put my money somewhere else - unless your going to drive and enjoy it at the weekend of course in which case you should be able to own it and get good use from it for free if you can sell it for enough.

Cars that spring to mind that I could of bought ( 10-15 years ago ) Audi UR Quattro, Sierra Cosworth, Lancia Delta Integrale, E30 M3, Lotus Carlton, Mercedes Cosworth.....cars now RS4, RS6, Defenders seem to fetch good money for some reason, Merc G Wagon, R32 Golf, Alfa GTA's seem to be going up, mint MK2 MR2 low mileage maybe worth a cheap punt, Toyota Supra MK4 have doubled in the last 5 years.

MEM62

caprikid1 wrote: »

Capri's are not sill money either.

Oh yes they are.

Gurj247

davidwood681 wrote: »

Love the E39 :cool:

Have a e39 540 Sport that is currently undergoing a makeover - full re-spray as mechanically it is sorted, just bodywork letting it down.

foxy-stoat wrote: »

unless your going to drive and enjoy it at the weekend of course in which case you should be able to own it and get good use from it for free if you can sell it for enough.

Will probably drive it during summer months - dry weather use only assuming I can get whatever car on Classic Insurance Policy.

foxy-stoat wrote: »

cars now RS4, RS6, Defenders seem to fetch good money for some reason, Merc G Wagon, R32 Golf, Alfa GTA's seem to be going up, mint MK2 MR2 low mileage maybe worth a cheap punt, Toyota Supra MK4 have doubled in the last 5 years.

Defenders are on the up simply because they do not make them anymore.
RS4 / RS6 has popped up on a few pages I have been looking at, but finding a good one within budget would be difficult.


R32 Golf - Assuming Mk4 (which I think is when they first came out) is probably a good bet as will still be some nice ones about.


Toyota Supra - agree they are shooting up in value - a lot of the modified guys love them, tuneability and driver engagement being key reasons thanks to the engine.

Ganga

I thought that you had to store classic cars in a controled atmosphere with the car jacked up to prevent damage to the tyres.

NBLondon

Rare and expensive now will work but ties up a lot of money and there's always a gamble as to when is the right time to sell on. Quentin Willson writes about this every month.

Things like the 70s performance Fords and high-end 80s hot hatches can do well now because they have become rare in good condition - after many were wrecked, driven into the ground or scrapped when they were uncool. So I guess this is where the BMWs will sit - the good ones and the rare/unusual editions will get there but may go through a dip while they escape the wannabe drug dealer image. Off the top of my head - what about the 70s/80s 6-series (quick google... E24) There was a very dusty A-plater in a car park near me for a lot of last year and I wondered if it was a project. (Quick google... nope already over budget unless you are restoring a wreck!)

I agree with caprikid and foxy - if you get the right one you can enjoy driving it as a second-car/weekend toy and still break-even.

caprikid1

Ganga wrote: »

I thought that you had to store classic cars in a controled atmosphere with the car jacked up to prevent damage to the tyres.

1 Million Lambo Muira - Carcoon etc etc


5K old Ford, helps to lift it up but I gather some people over inflate the tyres a bit instead.


I think old cars with limited electrics are far easier to maintain and run then modern equivalents so M cars may be a lot more difficult to maintain and be a lot more risky in terms of repairs as they get older.


IE 2.8 Capri ECU - New £30
2.8 Capri Fuel Pump - £60.


Parcel shelf - £600 (Not everything is cheap !)

foxy-stoat

You would make more money buying modded cars, turning them back to standard and selling for more money and selling the trick bits. Done that to a few cars in the past and made good returns.

Some fool put 10 pot calipers on a MK4 TDI Golf with RS6 rep alloys that I bought a few years ago for £1000 - sold the calipers for £500, wheels for £250 and ended up selling the car for £1500 once it was completely back to standard.

Note to self, should of declared the income to the tax folks and paid them 40% of the profits for my trouble.....I will NEXT time I promise.