Classic cars have amazing staying power. Despite all the changes that have occurred in the world, cars from the 1950s, 60s, and 70s still possess an immense hold over the imagination. While it might sound painfully obvious, the reality is classic cars are just plain cool. Always have been, always will be. With that in mind, it’s fair to ask: is a classic car investment a good idea? Though it may come as a surprise to some, the answer is yes. Here’s why:
Classic Cars Outperformed Stocks & Bonds in 2018
The stock market is volatile. What’s more, given the current climate of uncertainty, many prognosticators predict that the US economy is headed toward another recession. While that may or may not come to pass, the truth is that investors who purchased to luxury items –– like fine wine, art, and classic cars –– received better returns than those who invested in traditional stocks and bonds last year. Classic cars –– like other luxury items –– offer physical, tangible value, which is something that investors prize during economic downturns. And classic cars are quickly becoming a viable alternative to long-standing luxury options like gold, for instance.
Classic Cars Can Appreciate in Value
One of the reasons why classic cars are a savvy investment is that their stock won’t unexpectedly plummet. There are a large number of individuals who love classic cars, and because of the size and devotion of this community, it’s unlikely that classic-car owners will see their assets depreciate over time. (This is of course assuming that classic car owners maintain their vehicles.) In addition, it’s possible for certain classic cars to actually gain value over time. However, turning a quick profit on a classic car investment is often more difficult than many people imagine. Before any classic-car enthusiast attempts to “flip” a car, they should thoroughly study every aspect of the car (or cars) they’re purchasing, as well as conduct detailed market research. Many inexperienced classic car owners have sunk untold hours, energy, and money into a classic-car project only to find that no buyer will meet their asking price.
Classic Cars Have Ineffable Value
As we mentioned above, classic cars are objectively awesome. Unlike a “regular” stock or investment option, classic cars carry ineffable charm that isn’t likely to decrease any time soon. At the end of the day, people buy classic cars because they love them; as such, it’s reasonable to assume there will always be a strong market for antique vehicles.
Contact the Pros
For many, owning a gorgeous, fully restored classic car is a dream. At Precisions Restorations, we strive to make those dreams come true. Whether you’re looking to make your first classic-car purchase or you’re working to complete a collection, our team is ready to help. Contact us here at 1-844-652-1966 or email me directly firstname.lastname@example.org. We’re happy to answer any questions you may have and provide any and all restoration services you require!